I am not a regular Leofinance blogger, so please forgive my writing mistakes. However, I want to share a token that most people may not have heard off, PNUT.
Before I start talking about this token, I want to warn everyone that this token may be controversy to HIVE users since it is a DeFi token bridged on STEEM blockchain. I know, I know. I hashtagged Proofofbrain in this post, so let us use our brain calmly, and just realize this token as it is.
PNUT belongs to DeFi application, Nutbox, which is created by the same team of dApp, WhereIN. Nutbox went live about half of a year before Cub Finance.
Unlike a regular DeFi such as PancakeSwap or our beloved Cub Finance, community members do not need to form a liquidity pool from two different tokens. As a matter of fact, there is no need to send any tokens to new addresses before earning returns.
The development team calls this “Mining by Delegation”. It means that all it requires is to delegate some amount of STEEM powers.
Look at the roadmap of Nutbox project, the development team wants to expand its reach to Binance Smart Chain and Polkadot parachain; and they would not stop there. There are also plans to connect Near and Cosmos, which brings more use of PNUT to the crypto world.
If we think about the ultimate goal of cryptocurrencies, we don’t want to use them as another form of stocks; we want the cryptocurrencies as real "money", so that we can move away from the centralized banking system.
I am going to leave a screenshot of a post regarding PNUT token here, just in case people hate STEEM web addresses. This is a real use case of a local shop, that accepts PNUT token for purchasing store items in Indonesia.
Let us think about all cryptos, which is not in top 10. Let us count Dogecoin as well since newegg.com accepted DOGE as an alternative payment method.
Can anyone think of any cryptocurrency can be used to exchange real world merchandize without requiring using VISA card? PNUT can. Isn’t that something?
PNUT is a like the underdog in the big whale crypto world, and fight its way to the top.