$PNUT : The exchange's "10% discount redemption voucher", 86% annualized return is all a trap!
What is it essentially?
PNUT is just a platform token of a third-tier exchange (Phemex), with three core functions:
Discount on transaction fees (holding 5000 PNUT saves 20%, but you must spend $250 to buy the token first)
Lock-up mining (annualized return of 86% is misleading, in reality, you receive a small amount of PNUT daily → the more the price drops, the more you lose)
Voting for tokens (luring you to bet on junk projects that crash immediately after listing)
Three major pitfalls:
Annualized scam:
86% returns are all newly minted PNUT → daily sell-offs dilute the token price, and your interest and principal are halved!
Depth is a nightmare:
The Binance PNUT/USDT pool has only $50,000 depth → selling $10,000 can crash the price by 30%!
Exchange dependency illness:
Phemex is ranked 48th globally → risk of running away at any time (refer to FTX’s crash before, where the platform token was also “stable”)
Survival guide for investors:
Discount hunters:
Only buy PNUT after trading over $10,000 a month (otherwise, the saved fees won’t cover the token's price drop), sell it immediately after use!
Self-destructive behavior:
❌ Trusting high annualized lock-ups (interest can’t keep up with the speed of going to zero)
❌ Hoarding tokens waiting for a spike (historical highs have dropped by 98%)
❌ Voting for betting on junk projects (100% crash upon listing)
Bloody lessons:
Last month, users locked up and earned 86% “returns”, but the PNUT price plummeted 70% in a week → Principal + interest resulted in a loss of 58%! Working for ten years to exchange savings for a 10% discount card? Paying an IQ tax that hurts!
Runaway signals:
Weekly trading volume of the exchange drops by 20%+
Large PNUT holders transferring tokens to the exchange on-chain
Remember: The ultimate fate of platform tokens is to go to zero; running away after enjoying the discounts is the only clear-headed choice!
It's better to share joy than to be alone; if you reach out, I can pull you ashore!!
SUI TURMP BONK PEPE OM SOL PNUT
