> For the complete documentation index, see [llms.txt](https://docs.basednut.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.basednut.com/based-nut/the-orchard/pnut.md).

# pNUT

## BASED PEANUT ($pNUT)

### Overview

**BASED PEANUT ($pNUT)** is an index token within the BASED NUT ecosystem, developed in collaboration with Balancer. It provides exposure to a basket of diversified assets, including **cbETH, cbBTC, NUT, and SNUT**, combining them into a single token. This index structure offers holders a simplified and efficient way to participate in the broader DeFi landscape, benefiting from a wide range of assets within the BASED NUT ecosystem.

<figure><img src="/files/hcPR13hgoW6qPX3enU2o" alt="" width="188"><figcaption><p>Peanutoshi Nutkamoto</p></figcaption></figure>

### Key Features

* **Index-Based Structure**: $pNUT aggregates multiple tokens, offering holders exposure to several assets through a single token, providing a diversified portfolio within the BASED NUT ecosystem.
* **Real Yield**: Unlike many DeFi protocols that rely on emissions or minting new tokens, $pNUT generates real yield through market activity.
* **Volatility Farming**: Price fluctuations between $pNUT and its underlying assets create arbitrage opportunities. Traders can capitalize on these price differences, generating fees that are distributed to participants in the ecosystem.
* **Arbitrage Opportunities**: Arbitrage arises when prices deviate between $pNUT and its underlying assets, enabling traders to profit through wrapping or unwrapping $pNUT in relation to the underlying asset values. Additionally, there is an opportunity between the price discrepancies in the LP pools and in the index token in Balancer pool.

<figure><img src="/files/h6JIoWk0PtJRhGdloEYK" alt="" width="188"><figcaption><p>BASED PEANUT</p></figcaption></figure>

{% tabs %}
{% tab title="Technical Details" %}

## **pNUT V1 Technical Details**

| Technical Details |                                            |
| ----------------- | ------------------------------------------ |
| Token Name        | BASED PEANUT ($pNUT)                       |
| Chain             | BASE                                       |
| Index Components  | cbETH, cbBTC, NUT, SNUT                    |
| Token Address     | 0x2A5757b60987FF10385De1D4D923792f6fdCfFf1 |
| Symbol            | $pNUT                                      |
| Total Supply      | ∞                                          |
| {% endtab %}      |                                            |

{% tab title="Liquidity" %}

## Liquidity

### ⚖️ **Balancer**

* [**pNUT - (25cbETH-25SNUT-25NUT-25cbBTC)**](https://balancer.fi/pools/base/v2/0x2a5757b60987ff10385de1d4d923792f6fdcfff100010000000000000000019e)
  * &#x20;:peanuts: **pNUT:** Balancer Index token containing cbETH, cbBTC, NUT and SNUT.
    {% endtab %}
    {% endtabs %}

$pNUT offers an innovative solution for diversified, decentralized, and yield-generating exposure to multiple assets within the BASED NUT ecosystem. For further technical details and in-depth integration, refer to the ecosystem's technical paper.