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Blend corn and 1 cup of the coconut water together in a blender until very smooth and frothy, about 1 minute.
Pour mixture into a saucepan and bring to a boil over high heat.
Lower heat and cook, stirring frequently, until soup is slightly thickened and no longer tastes starchy, about 3 minutes.
Remove from heat and stir in almondmilk, lime juice, salt, cayenne and remaining 1 cup coconut water.
Refrigerate until chilled, at least 1 hour and up to 2 days.
Combine coconut flakes, peanuts and basil.
Ladle soup into bowls and top with coconut mixture.