How to mine PNUT using STEEM POWER(SP) delegation (APY: 59.3%)

in NutBox3 months ago

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Before mining PNUT, what is PNUT?

PNUT is a governance and utility TRC-20 token which is used on nutbox.io.


What's the purpose of Nutbox launched?

In Q1 2020, HIVE blockchain left STEEM blockchain with many decentralized applications(dapps) based on STEEM blockchain. So, Nutbox wanted to make STEEM thrive STEEM dapps again. To incubate STEEM dapps, Nutbox considered the economy of STEEM blockchain. Based on tons of STEEM POWER(SP) delegation, Nutbox are committed to rethrive STEEM blockchain using the economy for STEEM daps through the STEEM economy such as upvoting.

As well as, Nutbox developed TSP(Tron based STEEM POWER: TRC-20 SP) to expand Tron blockchain. Because, the traditional STEEM De-Fi is limited in only STEEM blockchain.


What is the mechanism of mining PNUT?

You can mine PNUT by SP delegation, deposit of TSP or TSP/TRX LP token on nutbox.io. And, it can be withdrawn to TronLink wallet at any time.


What is the use cases of PNUT?

① PNUT token holders can vote for adjusting the ratio of buying back PNUT by every week POWER DOWN of STEEM.

② It can be used voting tokens. If you pay 1,000 PNUT for your a post, the post will be received it with 10% voting power from @nutbox.mine. If 10,000 PNUT, 100% voting power.

Nutbox will further secure more use cases.


How the value of PNUT is created by?

@nutbox.mine has received around 1.82m SP from SP delegators. Based on it, @nutbox.mine makes the curation profit every week, and proceeds POWER DOWN of STEEM. Then, @nutbox.mine secures 4,000 STEEM every week. In the recent policy about buying back PNUT, it is used for it 100%.

Thus, every transactions related with buying back PNUT can be tracked on STEEM and Tron blockchain. For now, while it is manually controlled, it will be controlled by @nutbox.dao.

Account related with buying back PNUT on TRONSCAN

② PNUT has been used for a voting token.

③ There are many demand of investors who are looking forward to listing PNUT on global leading exchanges such as Huobi global, Binance, Upbit and Bithumb, as well as arbitrage traders.


What is the risk of mining PNUT?

① When you convert STEEM to SP, the liquidity of STEEM is decreased. So, when you convert SP to STEEM, a quarter of SP every week is converted to STEEM for 4 weeks. And, when you undelegate SP, it takes 5 days. Therefore, please, take the fluctuation into account.

② If you lose your master key, you will permanently lose your cryptocurrency. It's a common risk for any cryptocurrency.

Furthermore, there can be more potential risks.


How can I check the APY?

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You can check the APY, when you log in nutbox.io.


How to mine PNUT using STEEM POWER(SP) delegation

I'm explaining very detailed information for investors who don't know STEEM and Tron. So, if you know a step, please, skip the step.

(1). Click Sign up button on steemit.

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(2). Click Sign up for free button.

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(3). After entering your personal information, click Continue button.

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(4). Master key should be stored in a very secure place.

(5). Log in https://steemitwallet.com/ using your master key.

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(6) Click Keys & Permissions button.

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(7) Scroll the screen, then, click Revel button to extract real keys for posting key, active key, memo key and owner key on each taps. They should be stored in a secure place.

After that, the main keys are posting key and active key.

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(8). Install SteemKeychain on Google Chrome Extension Store.

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(9). After turning on SteemKeychain, click USE KEYS/PWD button. Then, log in with your Steemit ID and posting key.

(10). Click the 4 squares boxes button.

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(11). Click Manage accounts button.

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(12). Enter your active key.

(13). Install TronLink on Google Chrome Extension Store.

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(14). After turning on TronLink, create a new tron address. Since mnemonic keys are restore keys, they should be in a very secure place.

(15). Transfer STEEM and TRX to SteemKeychain and TronLink

Before transferring massive STEEM and TRX, I recommend that you transfer some STEEM and TRX for a test.

(16). After the test, transfer 100 TRX to TronLink for transaction fees.

(17). Before SP delegation, you have to convert STEEM to SP. Let's assume that you have 10,000 STEEM on SteemKeychain. You POWER UP 9,990 STEEM except 10 STEEM for transaction fees.

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(18). Log in with your Steemit ID on nutbox.io.

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(19). Enter 9,895 SP except 5 SP for minimum resource credits of STEEM blockchain.

(20). When a popup screen appears, proceed the smart contract and transaction.


You can check information related with mining on the dashboard at any time.


You can trade PNUT on JustSwap PNUT/TRX pool.

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Contacts

Wechat: cnsteem
Steemit: https://blog.nutbox.io/@nutbox
Discord: https://discord.gg/zPkMuGY
Telegram: https://t.me/joinchat/PrBejBh_Grp6lFZEGArDpA


Voting for STEEM blockchain witnesses

If you think that @nutbox and @smt-wherein contribute STEEM blockchain, please, vote for STEEM blockchain witnesses.

nutbox
https://steemconnect.wherein.mobi/sign/account-witness-vote?witness=nutbox&approve=1

smt-wherein
https://steemconnect.wherein.mobi/sign/account-witness-vote?witness=smt-wherein&approve=1

https://steemitwallet.com/~witnesses

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Very usefull for everyone

Very informative post for everyone

Dear i have delegated Sp to @nutbox.mine but i do not knopw how to pay PNUTS and to get vote for them. Please guide me.

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