What Is Squirrel? (NUTS) Complete Guide Review About Squirrel.

What Is Squirrel? (NUTS) Complete Guide Review About Squirrel.

What Is Squirrel?

Squirrel Finance is the first decentralized insurance solution for yield farming on BSC that instantly & automatically compensates users if their funds are locked or stolen. Although the risk of a “rug” or a code bug is small,is built for users who want the extra protection. Squirrel is an insurance platform that covers users from any issues that would prevent them from withdrawing and receiving their funds. By design this involves the following cases:

If you can recover your deposited tokens, regardless of their value, Squirrels job is done. If you cannot, then will compensate you with NUTS up to your insured value. See the insurance section for a more detailed explanation of how this works.

Squirrel Storage Key Points

Coin BasicInformation
Coin NameSquirrel
Short NameNUTS
Circulating Supply1,435,480.77 NUTS
Total Supply1,435,750
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

How Does It Work?

Squirrel Coin wraps existing farms on BSC with a smart contract that deposits to the underlying farm (e.g. CAKE). This allows you to continue farming like normal, but with the added coverage. Then when a user goes to withdraw, Squirrel checks that the user received their expected deposited back. If they do not match, the user will automatically be compensated in the same withdrawal transaction for their insured value in the form of NUTS. There is no human involvement. Decentralized insurance. Automatic payouts.

Tell Me More!

The docs offer an in depth explanation of the platform, tokenomics, insurance mechanisms, and a roadmap. For any unanswered questions, partnership ideas or if you would like your project to be insured with Squirrel, please don’t hesitate to contact the team!

Fees

Deposit Fees

  • Deposit fees for farms are 0%, but vaults may have a negligible inherited deposit fee. If there is a fee, the amount charged will be displayed on the bottom corner of the ‘Stake’ popup. Otherwise it is zero.

Withdrawal Fees

  • Withdrawal fees for farms are 0%, but vaults may have a negligible inherited withdrawal fee. If there is a fee, the amount charged will be displayed on the bottom corner of the ‘Stake’ popup. Otherwise it is zero.

Insurance Fees

  • In return for coverage, 20% of farming profits are charged to users farming on Squirrel. These are baked into the displayed APRs. The rate you see is the rate you get, fees are already included.
  • 100% of the insurance fees are redistributed to users staking NUTS in the NUTS Farm. So goes back to the community.

Farms

Squirrel Farms on Squirrel may either accept an LP or a single asset as a deposit. Farms earn a different asset than the deposited asset. Rewards should start accumulating immediately. The rate of return should be equal to the displayed APR, all fees are already factored in. Farming rewards will need to be manually harvested. Like all vaults, all farms distribute NUTS to users staking funds proportional to your % share of the farm.

NUTS Farm

The NUTS Farm is the only farm on Squirrel that does not get a NUTS bonus. Instead, 100% of insurance fees collected by Squirrel are used to buyback NUTS on the open market and pooled to distribute. This does not generate any new NUTS but instead redistributes them from the open market to users staking, while reducing the available supply on the open market. If the distribution transaction fails (ie: due to network congestion) the payout rolls over until the next distribution, which will be larger.

Vaults

Squirrel Coin your deposits into vaults on Squirrel will start increasing and compounding automatically. Earnings made from farming will increase your deposited amount. The rate of return should be equal to the displayed APY, all fees are already factored in. You get what you see. In addition, Squirrel Finance distributes a fixed amount of NUTS over the week to users staking in vaults. The amount you get is equivalent to the weekly bonus multiplied by your % share of the vault. These NUTS will need to be manually harvested or compounded.