Hello folks, feels like I haven't written the Nutbox report for ages.
I have been out of the crypto world for a while due to the real-world work related tasks. And during my absent, almost all cryptocurrencies were in some kind of small bulls run. Solana, KuCoin Token, Polkadot, Ethereum... you name it, all have had 20ish% over a period of time. The new blockchain social media platform, Torum, which was just put on PancakeSwap in the Binance Smart Chain, has grown 15.8% in the past seven days.
I'd like to congratulate all HODLers, who have been held down these coins/tokens and wish you have made a good return.
$PNUT Price
The price of $PNUT did not go up after the halving event. From Monday to Sunday of the past week, the price fell from $0.0236 to $0.022, a decrease of 6.78%.
The halving may have some negative effects on prices. Some user on Telegram asked about the meaning of the halving for Peanut project. Iguazi, the founder of Nutbox, explained the role of reducing circulation and the mining process of $PNUT, which follows closed to Bitcoin.
Of course, he also emphasized that Nutboxes' Peanut project is a decentralized product, and the HODLERs can participate in the direction where the development goes. Anyone can propose to cancel the halving process before the halving event next year; as long as the majority of users vote and agree of course. All users together write the history of the Peanut project.
Total Delegated SP
As mentioned earlier, the famous Uptober has brought many joys in crypto world. Bulls runs tend to drive many crypto traders to cash out for profits.
Not to mention, that the South Korean exchange's new KYC requirements and mainland China's control of all cryptocurrencies may have also caused many crypto enthusiastic to remove their funds from the market.
In the past, large-scale withdrawals often led to a decline in the number of total delegation; and the past week was no exception. The number of total delegated power has dropped from 6,527,127 to 6,103,978; the growth rate was -4.44%.
Of course, the drop of total agents has some benefit. Users who have not undelegated or reduced their own delegation are getting more staking rewards.
Earned PNUT = Delegated Power * PNUT produced every block / Total SP delegated to
The reward obtained by staking are calculated by multiplying the number of $PNUT token generated per block by the individual amount of delegated SP, then dividing by the total number of delegation.
As the number of total agents in the denominator reduces its size, the decline in reward caused by the halving has been somewhat eased.
Walnut Project Development update
The walnut project will launch officially in the fourth quarter of this year. Seeing that we are in quarter four, we know the future is about to come.
The following is the status update of the Walnut platform in the past week.
- Contract and relayer:
- The contract has completed the final audit.
- Crowdloan relayer partially completes local testing.
- Walnut front end
- Update contribution remark structure.
- Fix the input verification problem when creating an existing community tag.
- Add homepage, Dapp store, games and other functions.
- Walnut backend
- Added identification of lp token and calculation of its price.
- Add game-related interfaces.