Buy Peanut (NUX)
What is Peanut?
Peanut is an automated system of smart contracts designed to modify prices after each transaction. This system allows liquidity providers to maximise profits and reduce slippage without requiring manual intervention. Peanut (NUX) is the digital currency associated with this platform, operating across the Ethereum and Binance Coin blockchains.
How does Peanut work?
Peanut utilises a system of smart contracts that are built on the Ethereum and Binance Coin blockchains. These contracts are programmed to adjust prices following each transaction, which aids liquidity providers in earning more while minimising slippage. By automating these processes, Peanut improves the efficiency and profitability of liquidity management. Additionally, the NUX tokens can be staked to earn periodic rewards, and participants in platform activities may receive airdrop rewards.
What are the potential use cases for Peanut?
Peanut's primary use cases include:
- Liquidity Management: By employing smart contracts that automatically adjust prices, Peanut aids liquidity providers in maximising returns and reducing slippage.
- Arbitrage: The platform's hybrid infrastructure supports arbitrage strategies by effectively balancing liquidity between decentralised and centralised exchanges.
- Staking and Rewards: NUX token holders can participate in staking for rewards and become eligible for airdrop incentives through active platform participation.
What is the history of Peanut?
Peanut was founded by Alex Mormot and launched in December 2020. The initial exchange rate observed for NUX was $2.99 in March 2021. Following its token generation event in February 2021, Peanut integrated with Uniswap to provide liquidity solutions. Noteworthy milestones include its peak price of $3.20 in April 2021 and its lowest price of $0.00250 in October 2023. The platform is listed on multiple exchanges, facilitating the trading of its tokens. As Peanut continues to evolve, it maintains its focus on offering innovative liquidity management solutions within the DeFi space.
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Frequently Asked Questions (FAQs)
What is the current price of Peanut (NUX)?
The Peanut price is $0.00739131 AUD, representing a -0.03% from the day prior.
Where is the best place to buy Peanut (NUX) in Australia?
The best place to buy Peanut (NUX) 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 Peanut (NUX) 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 Peanut (NUX)?
The trading volume of Peanut (NUX) is $17.6K AUD in the last 24hrs, representing a -0.03% from the day prior.
How can I buy Peanut (NUX)?
Peanut (NUX) 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 Peanut (NUX)?
The current market cap of Peanut (NUX) is $348.0K AUD.
Can I convert Peanut (NUX) to cash?
Yes - With Coinstash you can convert your Peanut (NUX) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Peanut (NUX) are there?
The current circulating supply of Peanut (NUX) is 50.0M.
Is Coinstash a safe place to buy Peanut (NUX) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Peanut (NUX) 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.