# PNUT Economic

Peanut (PNUT for short) is the native practical token of the Peanut network, which aims to promote the development of the Peanut network and the development and operation of the Nutbox v2 network.

# Distribution of PNUT

PNUT is carried out in a bitcoin-like distribution method, and the distribution rules are as follows:

  • 0 - 1000000 block,20 PNUT/block
  • 1000001 - 10000000 block,10 PNUT/block
  • 10000001 - 20000000 block,5 PNUT/block
  • 20000001 - 30000000 block,2.5 PNUT/block
  • 30000001 - ∞ block,1.25 PNUT/block

PNUT is mainly distributed to the corresponding contributors of the Peanut network through SP mining and liquidity mining. The final ratio of delegating SP mining and liquidity mining in the future will reach a balance of 80 | 20, which is controlled by the community.

In order to support the development, operation, and marketing of Peanut and Nutbox, on the basis of the above distribution, 10% of PNUT is generated per block to enter Peanut.dao. Peanut.dao is fully owned by the Peanut community and controlled by the DAO composed of PNUT holders. During the founding period, the DAO committee represented the community in making decisions and handling daily affairs.

# PNUT value capture

# A storage of value

Storage of value refer to assets that can maintain their value, and assets that will not depreciate significantly over time. The value of each PNUT in circulation is supported by the actual value. All PNUT transactions are publicly visible on the blockchain, and its design makes it possible to maintain a stable value in a highly volatile market.

# A medium of exchange

The medium of exchange refers to all things that can represent value standards and are used to promote the sale, purchase, or exchange/transaction of goods or services. As a medium of exchange, PNUT can be matched with the corresponding scene on Steem, and PNUT can be used to conclude transactions and add value to PNUT. For example, you can pay PNUT to get upvote from Peanut (@nutbox.mine) on the Steem blockchain.

# A repurchase value

After Peanut obtains the delegated SP, will use better strategies to obtain curator rewards. This reward will repurchase PNUT in the open trading market. Peanut also has a Steem witness node. Peanut is receiving witness rewards every day, and this part of the proceeds will also be repurchased to PNUT. The funds involved in the repurchase also include fees paid by users for using Peanut's various services.

# A gas fee

The decentralized automatic network formed by the Nutbox protocol provides services to members 24/7. Regardless of whether users want to participate in SP mining, convert STEEM into TSTEEM and TSP, save TSTEEM mining and stake TSP for lending, they all need to pay a certain fee to obtain the services provided by Peanut Bank. This fee enters nutbox.gas and will also be used as Peanut community funds to repurchase PNUT.

# A right to participate in the system

PNUT can also be used for on-chain governance functions such as on-chain voting, technical committee, treasury distribution, referendum governance, etc. Holding PNUT can obtain rights in Peanut network governance.