The Nuboxes' first project Peanut will reach the countdown of her halving today.
This will be the second time $PNUT halving event, which drops the rate of mining rewards to 5 $PNUT tokens.
What is Halving
A little background about halving. For people, who follows cryptocurrencies, halving is a way to cut the rate at which new coins are released into the circulation.
For $BTC as an example, every 210,000 blocks or approximately 4 years, the block rewards is cut in half, until the year of 2140. The last halving we had was on May 11, 2020.
Halving reduces the rate of generating new coins; along with coin burning together, are ways to theoretically manage inflation.
PNUT's Halving Policy
The total amount of $PNUT token is unlimited; therefore, it adopts the Bitcoin's halving mechanism.
There are 5 halving events during the lifetime of $PNUT. And it will stay at the last rate in the remaining of the project.
In order to combat the inflation, $PNUT utilizes the coin burning method to keep the total amount of tokens in check.
Nutbox has burnt 15 million PNUT on October 1, and total of 40000000 PNUT have been burnt so fa.
Rules as follow:
| Blocks | Reward |
|---|---|
| block 0 - 100000 | 20 $PNUT / block |
| block 100001 - 1000000 | 10 $PNUT / block |
| block 10000001 - 2000000 | 5 $PNUT / block |
| block 20000001 - 3000000 | 2.5 $PNUT / block |
| block 30000001 - ∞ | 1.25 $PNUT / block |
And the history and projected dates are:
- Oct. 2020,
- Oct 5th, 2021,
- Oct, 2022,
- Oct 2023
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- English：https://t.me/nutbox_defi
- Chinese：https://t.me/nutboxcn