GOING $PNUTZ!: GeezOnApe Is Introducing A Geez NFT Backed Token To Their Ecosystem!

PNutz are back by Geez Nuts!

 

On Monday, the ApeChain ecosystem had a lot to chew on after GeezOnApe Founder Rida released an 18 page whitepaper on $PNutz, the soon to launch token of the Geez ecosystem that will power everything from games and gambling to the metaverse and DeFi; all backed by cold, hard Geez NFTs!

In the token’s whitepaper, Rida and the team explained that by introducing a fully NFT backed token to their ecosystem, Geez aims to be everywhere and anywhere in the Web3 world, finding new holders, liquidity, and DeFi opportunities.

 

With the token the community can also look forward to all sorts of new activations and games, according to the whitepaper.

In total, $PNutz will have a supply of 5,500,000 tokens, and each Geez NFT will be worth 1,000 $PNutz and vice versa.

 

“Geez Bank operates like an ETF vault. Each time a Geez NFT is deposited into the vault, 1,000 PNutz are minted,” the team wrote. “When any Geez NFT is redeemed, 1,000 PNutz are burned, ensuring every PNutz in circulation is fully backed 1:1 by Geez NFTs.”

 

Looking ahead, the Geez team is planning a $PNutz presale for 100,000 $PNutz at a price of 1 $Ape per $PNutz. Geez holders will get priority and will be able to purchase up to $2,000 USD worth of tokens. For more information on this, check out Rida’s post in the GeezOnApe Discord here: https://discord.com/channels/1306657803644960768/1306693325948194926

 

 

For everyone else, Rida tweeted the TLDR on $PNutz earlier today, saying, “Instructions are simple: Buy Geez / delist your Geez!”

The Bored Ape Gazette will continue to follow $PNutz and will let you know how the presale goes this week. Stay tuned for updates!