What is Nutbox?
Nutbox is a discentalizedprotocol, providing Staking Airdrop and decentralized application toolkit, which includes DeFi module, community blogs, community goverance and so on. Nutbox will help community establish its "Staking +DeFi"-based community token economy. With Staking Airdrop, community project founder without technical background, can create a mechanizm to distributute community token by Staking yield farming: clients who join Staking Airdrop can get their community token reward as long as they stake their PoS assets through community interface. Meanwhile, the community fund can raise money by accumulating Staking reward from PoS blockchain. With the help from Nutbox, Staking Airdrop project founder can create a series of smart contracts to launch its Staking Airdrop without coding or deploying validator nodes on the PoS blockchain.
What is the mainframe of Nutbox?
The mainframe of Nutbox is a Nutbox blockchain, which is based on Substrate. It will connect to Polkadot and become to one of its parachain. The smart contracts of Nutbox includes TokenFactory (to provide generating-community-token function), Staking Airdrop (to provide the staking-yield-mining function), Farming (to provide the liquidity-yield-farming function), DutchAuction (to provide the Dutch-auction function ), Goverance (to provide the community-goverance function ), DApp launcher. All of those modules make it is easier to provide Staking Airdrop, DeFi and other application scenarios by the communities.
How does PoS consensus work?
When Beacon Chain of Ethereum 2.0 launches its PoS consensus, More and more projects choose PoS as their consensus solution. According to the assets scale, PoS is becoming the second largest consensus in the blockchain industry. Polkadot, Cardano, EOS, Tezos as well as Cosmos is making various of funny PoS consensus experiments, promoting the innovation in crypto-assets and decentralized system area.
The PoS (including DPoS, NPoS, etc.) consensus mechanism aims to replace the energy-consuming hash calculations in PoW (Proof of Work) with Staking assets to provide security for the network. This mechanism uses local crypto assets as collateral to determine whether to participate in the blockchain operation. This brings more advantages than PoW, including faster block output, better performance, more environmentally friendly, larger economic design space, and lower security costs.
Is there Staking Airdrop?
Staking Airdrop is a brand new token offering method. In a traditional ICO, the project founder persuades investors to buy new token at one time; meanwhile in Staking Airdrop, the investors are convinced by the project founder to save staking assets at the coin-offering institute (such as Nutbox) and buy the new token with staking rewards.
The staking reward makes Staking Airdropan exciting innovation. Non-technical project founders can use Staking Airdropprotocolto issue project tokens (communityToken, cToken for short) on the chain and distribute them in according to distribution rules. Users only need to pledge PoS chain assets to the project's on-chain nodes (voting or proxy, etc.) to earn cToken, and the project party will get Staking reward. For example, in Polkadot, the one who pledge his DOT to nominate Nutbox validators can obtain cToken regularly.Unlike IEO, IDO, and ICO, Staking Airdropextends the token issuance cycle, supports the project party in the form of cash flow, and reduces the default risk of project. Staking Airdrop, as a method of financing cryptocurrency projects, can also solve some classic problems in the past, such as lack of accountability and liquidity, and the imperfect price diStaking Airdropvery mechanism in the initial stage of token launch.
How does Staking Liquidity protocol work?
Nutbox uniformly realizes the liquidity of similar assets in all communities through tToken (tradeToken, the liquidity token of Staking Token). Each type of PoS token corresponds to a different tToken. For example, tDOT corresponds to pledged DOT, tETH corresponds to ETH participating in ETH2.0, and tSP corresponds to Steem Power.Token holders can pledge or redeem assets through the Nutbox pledge-assets smart contract, without third-party intervention. When Token holders initiate staking to the Nutbox pledge contract, they can obtain tToken 1:1. tToken that represents the ownershipof the corresponding Staking Token. At the same time, any holder of tToken can initiate redemption to the corresponding Nutbox pledge asset liquidity agreement anytime and anywhere, and Staking Token will be sent to the corresponding account after unlocking.
How does Nutbox Ecosystem work?
The most important thing for Nutbox is to promote the development of Staking Airdrop, Liquidity Staking Token, Nutbox DApp laucher, and to introduce tToken into the application scenarios of various communities.Nutbox will consider incentives for channels that support Staking Airdropand Liquidity Staking Token. As long as developers integrate Peanut pledge mining and Nutbox pledge asset liquidity protocol into their wallet, DApp or Exchange, they will receive a certain percentage of rewards ( controled by the benefit ratio).Nutbox will also incentivize the behavior of providing liquidity for tToken and NUT: 1) tToken and NUTrelated trading pairs; 2) tToken related mortgage lending pool; 3) Token conversion into tToken. The proportion of NUTdistributed by each part will be adjusted according to the revenue created by each pool. The list of trading pairs and the list of lending pools which participate in Yield Farming will be voted on by NUTholders, and the list will be updated every 6 months.55% of NUTminted will be used by yield farming, part of which will serve as incentives for the entire ecosystem, including PLO slotauctions, Oracle use and cross-chain related costs.