Important Notice
Deposits and withdrawals are not currently available for this coin.
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.
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.
The primary use cases for Donut include:
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.