The cards above are the trees. This part is how they fit together — from the one root token up to the whole network. See it live in the Orchard Atlas and Atlas Data.
The root token. Supply = 1, forever.
Wrapped NUT. Same asset, converts 1:1, used by the multi-asset pools below.
The pools themselves: two-token pairs, wNUT-rooted trios, multi-asset baskets.
Pools collected by role or history. One pool can sit in several groves.
All of the assets, pools and groves together form the Orchard.
NUT exists in two interchangeable forms: NUT itself and wrapped NUT (wNUT). They convert 1:1 at any time. Some Balancer pools use wNUT instead of NUT — the six pools shown below. Pools holding NUT form the NUT scale; pools holding wNUT form the wNUT scale.
Every line below means the corresponding structure contains NUT itself. Parallel venues can share the same counter-asset without becoming one market.
Each spoke is one Balancer pool: wNUT plus two external tokens — gtINF = wNUT + VVV + DIEM, gtBTC = wNUT + cbBTC + tBTC, and so on. Six pools, one shared ingredient.
pNUT, mNUT and nNUT are unrooted multi-asset structures. A Whorl may contain NUT or wNUT as an equal constituent and therefore touch one scale, but that does not turn the constituent into a distinguished rootstock.
A two-token pair (Branch), a wNUT-rooted trio (Graft), and a rootless multi-asset basket (Whorl) follow different math, routes and failure modes.
One pool with two assets. Example: NUT / WETH — live on Uniswap V3 and V2.
One pool with wNUT plus two external assets. Example: gtBTC = wNUT / cbBTC / tBTC at 20/40/40 — live Balancer pools.
One pool with three or more peer assets; no designated root. Example: pNUT = wNUT / SNUT / cbETH / cbBTC at 25% each — live Balancer pool.
Assets that were not created by Based NUT are called soil.
Examples: ETH, BTC, stablecoins, AI tokens, tokenized stocks. When paired with NUT or wNUT they provide external liquidity to the Orchard. The two external assets inside a Graft pool are called scions — twelve verified scions across six pools.
A grove is a collection of related pools. Three are named: Sunflower (six similarly designed graft pools), Heirloom (the historically important originals), Polyforest (routes across different market mechanisms).
Six Balancer pools, each holding wNUT plus two external assets — inference, agents, ether, bitcoin, FX and tokenized equities. Together they form the Sunflower Grove.
The original pairs, the original pNUT V2 Quad, the current V3 Whorl, and MintClub curves — live and retired structures kept together because history matters.
Routes that pass through several market types — Balancer, Aerodrome, bonding curves. We group these mixed routes under the Polyforest Grove.
The Orchard uses several kinds of markets. Each prices and manages liquidity differently.
Liquidity providers choose price ranges, so liquidity is deeper in some ranges than others.
Two-token pools where price changes as the reserve ratio changes.
Multi-asset pools where each asset has a target weight. The grafts and whorls live here.
A concentrated pool whose range can move over time. range moves over time · NUT/SALT + PIPS/USDC live
Tokens are minted or redeemed against a reserve using a predefined price curve. No LP deposit — the curve itself is the liquidity.
NUT Army assets are whole, non-fungible inventory. Their Sudoswap markets trade whole NFTs against fungible quote assets.
Wrapping is not trading — it converts between the two forms at exactly 1:1.
An LP claim can itself trade in another pool. SNUT-LP/WETH turns underlying liquidity into a second-order market.
The permaculture words describe market capacity, maturity and maintenance — states that move even when the contract address does not.
A newly planted market can exist onchain and still be economically thin. Maturity comes from usable depth and connectivity, not age.
Liquidity is edge capacity. What matters is not decorative TVL but depth at the trade size and route that needs it.
Uniswap and Aerodrome never message each other. Traders who buy cheap on one and sell dear on the other carry the price across. This is arbitrage. In Orchard terminology, we call the resulting price transmission pollination.
Fees, rewards, mints, redemptions, buybacks, rebalancing, LP and arbitrage keep value moving through layers.
Ranges move. Liquidity deepens or leaves. Obsolete routes retire. Mechanisms migrate. The Orchard is maintained, not frozen.
There is exactly 1 NUT. At any moment, slices of it sit in wallets, in liquidity pools, in the wNUT wrapper, in Mint Club reserves, or in unreachable addresses. This map tracks those slices — a balance sheet for the whole root.
NUT inside an AMM is liquid inventory. NUT held by the wrapper backs wNUT one-for-one. NUT inside a Mint Club bond is reserve backing and can return on redemption. NUT accumulated in an inaccessible sink does not.
The amount never exceeds one NUT, but availability, custody and routing accessibility can change every block.
NUT committed to curves, reserves or other backing cannot simultaneously be free trading inventory.
NUT routed through reward systems remains the same root quantity, but moves into a different economic role.
NUT or its wrapped claim can sit inside Balancer pools and trade as part of a basket.
NUT exposed to exchange supplies the inventory through which local executable prices are discovered.
SNUT is the rewards token. Every transfer pays a 1% fee that funds four jobs: NUT rewards to stakers, SNUT buyback, liquidity, and operations. It trades on five surfaces:
The Orchard uses the four-asset whorl shape three ways: a mixed-asset basket (pNUT), a pool of LP tokens (mNUT), and an ecosystem basket (nNUT).
The pNUT pool holds wNUT, SNUT, cbETH and cbBTC at equal 25% weights — successor to the older V2 basket that held NUT instead of wNUT.
wNUT plus three Aerodrome LP tokens. The LP tokens are themselves assets here — one pool holding pieces of other pools.
NUT plus NUTINO, SALT and PIPS — the root pooled with three ecosystem tokens in one basket.
nutUSD changes how capital can enter and leave the Based NUT economy.
Deposit USDC, receive nutUSD — a vault share (the ERC-4626 standard) of a lending reserve. The reserve lends only into approved Morpho markets.
The design lends USDC against cbBTC and cbETH collateral on Morpho, with loans capped at a conservative 38.5% of collateral value. Interest flows back to the reserve; each share's worth rises or falls with it.
LP and BPT tokens are transferable claims on underlying reserves. Once a claim gets its own market, liquidity becomes an asset inside more liquidity.
The cleanest live example is the SNUT/WETH LP claim trading against WETH in a separate Uniswap V2 meta-pool. The claim has a fair NAV from its underlying reserves, while the meta-market gives it a second price.
Balancer BPTs do the same thing structurally: gtINF, gtAGT, gtETH, gtBTC, gtFX, gtSIL, the pNUT generations, mNUT and nNUT are tokenized claims on multi-asset structures. mNUT makes that recursion explicit by using LP claims themselves as Whorl constituents.
Revenue routing, attestations, social federation and real-world state can feed or observe the Orchard without becoming AMM edges.
The FeeRouter takes USDC revenue and spends it two ways: buying PIPS and adding NUT/wNUT liquidity. Each spend is recorded by an EAS attestation. Money flows into the pools — the router itself adds no new market.
| Asset | Class | Price | 24h | Volume 24h | Liquidity | Links |
|---|---|---|---|---|---|---|
| AAPLc | External | - | - | - | - | |
| AERO | External | - | - | - | - | |
| ALMD | Nested | - | - | - | - | |
| ALMD/cbETH | Sudoswap | - | - | - | - | |
| ALMD/NUT | MintClub | - | - | - | - | |
| cbBTC | External | - | - | - | - | |
| cbETH | External | - | - | - | - | |
| DIEM | External | - | - | - | - | |
| EURC | External | - | - | - | - | |
| gtAGT | Nested | - | - | - | - | |
| gtAGT wNUT/VIRTUAL/MOR | Balancer v3 | - | - | - | - | |
| gtBTC | Nested | - | - | - | - | |
| gtBTC wNUT/cbBTC/tBTC | Balancer v3 | - | - | - | - | |
| gtETH | Nested | - | - | - | - | |
| gtETH wNUT/cbETH/wstETH | Balancer v3 | - | - | - | - | |
| gtFX | Nested | - | - | - | - | |
| gtFX wNUT/USDC/EURC | Balancer v3 | - | - | - | - | |
| gtINF | Nested | - | - | - | - | |
| gtINF wNUT/VVV/DIEM | Balancer v3 | - | - | - | - | |
| gtSIL | Nested | - | - | - | - | |
| gtSIL wNUT/NVDAc/AAPLc | Balancer v3 | - | - | - | - | |
| MOR | External | - | - | - | - | |
| NUT | Root | - | - | - | - | |
| NUT/AERO | Aerodrome | - | - | - | - | |
| NUT/cbBTC | Aerodrome | - | - | - | - | |
| NUT/SALT | MintClub | - | - | - | - | |
| NUT/wETH | Uniswap V3 | - | - | - | - | |
| NUT/wETH | Uniswap V2 | - | - | - | - | |
| NUTINO | Nested | - | - | - | - | |
| NUTINO/cbBTC | Uniswap V2 | - | - | - | - | |
| NUTINO/NUT | MintClub | - | - | - | - | |
| NVDAc | External | - | - | - | - | |
| PIPS | Ecosystem | - | - | - | - | |
| PIPS/NUT | Aerodrome Slipstream CL | - | - | - | - | |
| PIPS/USDC | Balancer reCLAMM | - | - | - | - | |
| pNUT | Ecosystem | - | - | - | - | |
| pNUT | Balancer | - | - | - | - | |
| PNUTRMY | Nested | - | - | - | - | |
| PNUTRMY/NUT | MintClub | - | - | - | - | |
| PNUTS | Nested | - | - | - | - | |
| PNUTS/NUT | MintClub | - | - | - | - | |
| PNUTS/USDC | Sudoswap | - | - | - | - | |
| SALMD | Nested | - | - | - | - | |
| SALMD/cbETH | Sudoswap | - | - | - | - | |
| SALMD/NUT | MintClub | - | - | - | - | |
| SALT | Nested | - | - | - | - | |
| SALT/USDC | Aerodrome | - | - | - | - | |
| SNUT | Ecosystem | - | - | - | - | |
| SNUT-LP/wETH | Uniswap V2 | - | - | - | - | |
| SNUT/NUT | Aerodrome | - | - | - | - | |
| SNUT/wETH | Uniswap V2 | - | - | - | - | |
| SPNUT/USDC | Sudoswap | - | - | - | - | |
| tBTC | External | - | - | - | - | |
| USDC | External | - | - | - | - | |
| VIRTUAL | External | - | - | - | - | |
| VVV | External | - | - | - | - | |
| wETH | External | - | - | - | - | |
| wNUT | Ecosystem | - | - | - | - | |
| wstETH | External | - | - | - | - |
Pairing with NUT gives the Orchard another route. If that route finds liquidity and connects to the rest of the graph, the topology changed.