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What is Donut?
Donut (DONUT) is an ERC-20 token that represents the community points of the /r/ethtrader subreddit. It is distributed to subreddit participants based on the quality of their submissions and activity. Donut serves various purposes including governance, tipping, and purchasing exclusive features within the subreddit.
How does Donut work?
Donut operates on the Ethereum blockchain as an ERC-20 token. It uses Ethereum's Proof of Work consensus mechanism, facilitated by the Ethash algorithm. Smart contracts on the Ethereum network manage the distribution and governance of Donut within the /r/ethtrader subreddit. Participants earn Donut based on their contributions and can use it for various functions like voting in community polls and acquiring exclusive subreddit features.
What are the potential use cases for Donut?
The primary use cases for Donut include:
- Voting in governance polls within the /r/ethtrader subreddit.
- Tipping and rewarding users for their contributions.
- Purchasing exclusive features and badges within the subreddit.
- Potentially being used in digital banking and cryptocurrency rewards systems.
What is the history of Donut?
Donut originated as a community point within the /r/ethtrader subreddit in October 2018 and was later tokenized as an ERC-20 token on the Ethereum blockchain in December 2019. This tokenization leveraged Ethereum's technology for its distribution and governance. Donut’s primary application remains within the /r/ethtrader subreddit, emphasising governance and community engagement activities.
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Frequently Asked Questions (FAQs)
What is the current price of Donut (DONUT)?
The Donut price is $0.00905545 AUD, representing a -13.61% from the day prior.
Where is the best place to buy Donut (DONUT) in Australia?
The best place to buy Donut (DONUT) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Donut (DONUT) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Donut (DONUT)?
The trading volume of Donut (DONUT) is $17.4K AUD in the last 24hrs, representing a -13.61% from the day prior.
How can I buy Donut (DONUT)?
Donut (DONUT) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Donut (DONUT)?
The current market cap of Donut (DONUT) is $2.0M AUD.
Can I convert Donut (DONUT) to cash?
Yes - With Coinstash you can convert your Donut (DONUT) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Donut (DONUT) are there?
The current circulating supply of Donut (DONUT) is 227.3M.
Is Coinstash a safe place to buy Donut (DONUT) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Donut (DONUT) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.