"Peanut" is an unofficial name it has acquired due to it's small body.
1955 Silvertone Danelectro
1 pickup "peanut"
1967 Danalectro Dane N series Hornets
Note the different amount of fore-aft bridge tilt for
different string down-pressure preferred by each guitar's owner.
History of Danelectro bridge plate and strings saddle:
From their very beginning Danelectro has used the same design of bridge plate assembly. The bridge plate is mounted by sitting loosely atop a flathead wood screw at each of the 2 front corners of the plate, with holes through the bridge plate for a screwdriver to adjust the height of those screw-posts that are screwed into the body of the guitar. The holes to adjust the screws are smaller than the screw heads and the bottom of the plate is counter-sunk flat to serve as sockets that keep the plate stationary with it's front sitting on those 2 screw legs. A 3rd screw is inserted into a hole in the center of the rear of the bridge plate and screwed into the body from the top, whereby the string tension holds the front of the plate down on the 2 front screw legs and the rear screw prevents the string tension from "flipping" the back of the plate forward. All 3 screws afford adjustment of the fore-aft tilt angle of the bridge plate as well as latteral tilt to level the strings' different gauges over the fretboard. The saddle is secured with a single screw threaded into the bottom of the saddle through the bottom of a fore-aft slot centered near the front of the bridge plate. The strings ball-ends are secured into slots in the rear edge of the plate. This same scheme was used for 12 string guitars as well; ...as illustrated on the 2 Dane N series Hornets shown below. Knowledgeable guitarists can invision the problems the average person would have with setting reasonable intonation across a straight crowned saddle with only it's angle of incidence adjustable for intonation.