When talking about blockchain applications and exchanges, we often come across the concept of decentralization. This means that the system works without a global governing body. But is it safe? How to protect yourself in a decentralized world? Peanut! comes to the rescue!
We did a short interview with Alex Starikov, head of marketing and partnership of Peanut! during the AIBC Summit Dubai. So let’s move to the world of DeFi!
Peanut is a brand that unifies a set of DeFi tools. They have a variety of tools for decentralized exchange users whether you are a crypto trader or liquidity provider, or a crypto project which is going to list your token on decks. They have a tool to minimize the risk and maximize the profit. Right now they have four key products which they are working on.
The first one is Peanut Hedge. Peanut Hedge is a tool for liquidity providers .which log their liquidity on on any decentralized exchange with Peanut Hedge, you can protect your assets from impermanent loss by purchasing an option on derivative exchange and you do it from one user interface and also you do it without KYC. So right now the only option to buy the derivative option on exchange is through the centralized exchanges, where you need to submit your identity. With Peanut Hedge you can do it all within one interface without showcasing your personal information. They also have a second project for liquidity providers.
Peanut Smart LP
This product is specifically for liquidity providers on Uniswap v3. Uniswap v3 introduced the concept of concentrated liquidity. When liquidity providers can specify the price range of the liquidity, they provide. However, while creating a better opportunity for profits, it also creates risks, because if the price of the token pair, you provide liquidity for, goes beyond the price range of your liquidity, you will suffer in permanent loss with liquid. With smart LP they automatically balance your liquidity and they make a liquid to follow the market price. This helps you to always make sure that your liquidity always generate your profits and minimize the risk of impermanent loss.
Another product that they have is actually called Feeno. It goes from “no fee” concept, so it’s like a game of words. What is Feeno? Feeno is a technology which they are going to integrate into crypto wallets and this will allow the users of those crypto wallets to do the swaps and transactions of infinity 20 tokens without paying the gas fee. Have you ever struggled in a situation when you would need to send tokens to your friend or do a swap on decentralized Exchange, but you ran out of it right? With Feeno, you can do the transactions and pay the fee in the tokens that you sent. What is more, Feeno allows protecting you from sniping and also, if you do a large transaction and if you create an arbitrage opportunity with it – they will leverage that opportunity and they’ll give you a cash back.
And the last one is the service for crypto projects. It’s called Peanut Fair Lunch. So, what is Peanut Fair lunch? It’s a set of tools which allows us to protect tokens, which are going to list on decks from sniping bots. Sniping, boss of the boss, they sit in a mining pool and they are hunting your liquidity transactions. When a new project is listed on decks and when they send the transaction to create a liquidity pool, snipers hunt those transactions and they try to buy your tokens at the lowest price. Pump the price up and then dump those tokens to the new investors at the highest price. With Peanut Fair Launch, you can prevent price pumps and dumps. You can offer the fair token price to your new investors. Then you can get full control over your tokens. So with Peanut Fair Launch, they guarantee that they will create their own snipe bot that will be the first to buy your tokens. So basically you get full control over the tokens purchased by the bot. And you can control what happens with those tokens afterwards.
The short history of Peanut!
They’ve been in business since 2015. Peanut right now has about 15 employees. They launched their project in November last year, the idea came after they noticed the growing acceleration of decentralized exchanges in the summer 2020. They had the public sale in February 2021 and they listed on the centralized exchanges in 2021 as well. Right now Peanut token is available on Pancakes, Uniswap and also on centralized exchanges like MXC and Gate.io.
And the biggest challenge is..
The biggest challenge is to create a product which really works and which brings value to the crypto community and also to make sure that the token has a utility that community has faced in the US.