Cryptocurrency exchange announced the listing of Thetanuts Finance (NUTS) on its stake-to-mine platform PoolX. Thetanuts Finance (NUTS) is an on-chain options trading protocol for traders who want to long or short altcoin options and is available for mining until May 30.  

The listing of NUTS comes only days after the launch of Bitget’s innovative product, PoolX, an investor-centric feature that allows participants to stake particular cryptocurrencies and earn various emerging or popular tokens. Each project that launches on PoolX is going to feature more than one mining pool, and the exchange will distribute rewards on an hourly basis based on the individual user’s staking volume.

Calculating the pool rewards per user will entail the following formulae: 

Holder’s Staked BGB  ÷ Corresponding pool prize * the sum of all BGB tokens from all eligible participants each participant’s staked BGB = Holder’s BGB Rewards

Thetanuts Finance is a unique derivatives trading platform that aims to provide various components of decentralized finance that have been missing from the industry for years. One of the platform’s benefits includes automated vaults that have significantly simplified yield generation through a combination of user-friendliness, OTC trading, and centralized and decentralized finance. Moreover, the platform allows both institutional and retail investors to earn higher yields by leveraging sustainable options strategies that aim to reap from high volatility assets.

As per the latest announcement about the listing of Thetanuts Finance on Bitget’s PoolX, participants must be knowledgeable of the following terms:

Bitget will automatically distribute rewards from the PoolX mining pools depending on an individual’s amount of stake. 

The exchange will snapshot every participant’s staked per hour and determine their rewards accordingly, with each mining pool’s APR calculated separately. 

In case a user stakes their tokens before the kick-off on PoolX, the staked amount will be determined in the first hour and rewards will be distributed in the second hour.

Participating in mining rewards for Thetanuts Finance only requires a user to be part of PoolX by signing up on the largest cryptocurrency trading platform Bitget.