How to mine PNUT using TSP(Tron based STEEM POWER)/TRX LP token (APY: 62.3%)
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 And, it can be withdrawn to TronLink wallet at any time.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?
① @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.
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 You may have an impermanent loss while you provide TSP/TRX LP token. However, it's common risk of De-Fi synthesis LP tokens.
② TSP can be exchanged to TRX on JustSwap. However, the pool size of TSP/TRX is around $2,000. So, when you exchange tons of TSP to TRX, you may have a loss.
③ When you exchange TSP to STTEM on nutbox.io, it takes at least 33 days. Because, STEEM economy is designed as follows. To exchange SP delegation to STEEM, you have to cancel the SP delegation, and it takes 5 days. After canceling it, you can start POWER DOWN of SP, and It takes 4 weeks. You can withdraw a quarter of SP every week. So, you will be hard to respond the volatility of STEEM for 33 days.
④ 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?
You can check the APY, when you log in nutbox.io.
How to mine PNUT using TSP(Tron based STEEM POWER)/TRX LP token
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.
Sign up button on steemit.
Sign up for free button.
(3). After entering your personal information, click
Master key should be stored in a very secure place.
(5). Log in https://steemitwallet.com/ using your master key.
Keys & Permissions button.
(7) Scroll the screen, then, click
Revel button to extract real keys for posting key, active key, memo key and owner key on each tabs. They should be stored in a secure place.
After that, the main keys are posting key and active key.
(9). After turning on SteemKeychain, click
USE KEYS/PWD button. Then, log in with your Steemit ID and posting key.
the 4 squares boxes button.
Manage accounts button.
(12). Enter your active key.
(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). Enter you Steemit ID and log in nutbox.io.
(19). Enter an amount of STEEM that you want to convert STEEM to TSP, then proceed the exchange transaction.
(20). Log in JustSwap and click
Pool tab and
Add liquidity button.
Select a token button.
(22). Enter TSP and click TSP contract address(TW2EWoRUJfwH9nMTfLxSL9JPLZeusUtTfR) with caution.
(23). Enter an amount of TRX and TSP that you want, then approve the smart contract and confirm it.
You have to store 100 TRX for transaction fees.
mining by TSP tab.
Mining by TSP-LP tab.
(26). Enter an amount of TSP that you want to deposit, then approve the smart contract and confirm it.
You can check the information related with mining on the dashboard at any time.
You can trade PNUT on JustSwap PNUT/TRX pool.
(6). Nutbox white paper