How did Peanut Achieve its Promotion by Community Members from 7 co... | Ecency

Peanut is a decentralized staking platform, which can be simply regarded as an on-chain financial service organization.

If we judge Peanut by the standards of an organization, the data looks good. There are currently 580 accounts in the Peanut community with a market value of $2.2 million. Although Peanut is a small organization, it currently has 11 part-time staff and 8 global partners from 7 countries. Peanut is also incubating an organization that is hundreds or even thousands of times the size of its own —— Nutbox.

How is it all done?

Building Positive Network Effect with Crowd-Staking,

Providing cToken with Value Support

Peanut is the first to adopt the Crowd-Staking model to build its positive network effect. Regarding Crowd-Staking, please refer to the article "Crowd-Staking, a Project Launch Method that Brings Tens of Billions of Dollars Worth of Incubation Funds".

Peanut is built on the Steem Blockchain, which is a public content platform that adopts the Delegated Proof of Stake (DPoS) consensus mechanism. On Steem Blockchain, STEEM is its local asset, and STEEM POWER (SP) is its staked asset. SP holders have the right to vote for validators and the right to upvote public content.

Peanut Economic Model

On the Peanut network, SP holders vote for community validators or delegate SP to the community, and they will receive PNUT in return. The community account @community.mine will use the Staking Reward (in the form of STEEM) that SP holders should have received to repurchase PNUT to instill value into PNUT. In this way, a small closed loop is formed. In this closed loop, PNUT has a certain value, and community contributors also receive PNUT.

On a larger scale, the community will distribute a certain percentage (here 10%) of PNUT to the DAO.Fund to support the development and operation of community services and applications. In the Peanut network, the current applications available include community media based on blockchain, community DeFi with liquidity mining at its core, and practical application —— paying PNUT to get post upvotes. These applications will generate value and be further injected into PNUT through Community.mine.

Through these two closed loops, Peanut thus constructed a closed loop of its positive network effects, which is economically feasible. An organization, whether centralized or decentralized, must be economically sustainable. Peanut completed the first layer with the help of Crowd-Staking, and used the DAO.Fund and Community Services to build a more stable and sustainable second layer on the basis of the first layer.

DAO Governace,

Breaking the Boundaries of Organization, Rewarding the Contributors

Due to the emergence of cToken (communityToken) and the allocation of 10% of cToken to the community DAO.Fund, the community also has a public fund. The DAO.Fund is to the community what a company’s public assets are to the company, and DAO Governance shapes the governance and decision-making structure of the community.

Peanut manages and motivates members who contribute to the community through the DAO.Fund and DAO.Committee. The development of DAO.Fund is carried out through the Peanut Proposal System. Contributors in the community can write proposals, describe their contributions to the community, and submit them to the community for voting. Once members holding PNUT vote for the proposal, DAO.Fund will allocate PNUT rewards to contributors according to the content of the proposal.

Peanut Proposal System

This mechanism breaks the boundaries of the Peanut community and allows affiliates in any region of the world to join Peanut and become contributors to the Peanut community. It is also the reason why we have Peanut regional ambassadors from 7 countries around the world.

For the incentives of daily operation or minor tasks, Peanut works it out through the DAO.Committee. The DAO.Committee's assets are derived from the DAO.Fund, where DAO.Fund will automatically transfer 20% of it to the DAO.committee account every month. The members of DAO.committee are elected by community members holding PNUT, and each term is 1 year. When the DAO.Committee allocates PNUT rewards to contributors, it only needs to make a notification during the disbursement to comply with the supervision of the Peanut community.

DAO Governance allows organizations of any size to develop into a public organization, attracting global enthusiasts to contribute to it. This kind of DAO.Fund and DAO.Committee takes into account both fairness and efficiency, with transparency at its core.

Social Media,

Connect Us Closer Together and Provide Services for DAO

The main purpose of DAO.Fund is to develop and run services and application modules suitable for the Peanut community. The community blog is the first community service incubated by it. blog.nutbox.io allows community members to receive financial rewards through publishing their works, and at the same time provides an online social space for the community. Peanut community members can share and discuss on community development here daily. What's more, submission of Peanut Proposal by contributors and third-party bounty tasks are also issued through blog.nutbox.io.

The blockchain-based blog blog.nutbox.io firstly provides authors with a channel to protect the ownership of their content, permanently store the content and speak out their minds; secondly, once someone upvotes the content, the author can receive STEEM Reward; finally, it provides a community discussion space for Peanut Proposal and a mass communication channel for bounty tasks. Even better, PNUT holders can pay for upvotes with PNUT, allowing Peanut community accounts to upvote their posts, get better display positions, and more STEEM rewards.

On the basis of the community and Social Media, we have also built a DeFi service centered around liquidity mining. Content creation, Peanut Proposal system, Peanut bounty platform and other services and applications to be developed will make the Peanut community more and more connected, and provide services efficiently and cost-effectively.

About Nutbox

Nutbox is a one-stop DAO factory for the community, providing non-technical founders with a series of tools (Crowd-staking, DApp factory, and DAO governance factory) to facilitate the creation of their own DAO platform.

For more information, please visit https://nutbox.io