While the whole crypto market is suffering from a negative trend, Gnox has taken the other way round with a 63% spike in its price. It is reminiscent of what top cryptos like Shiba Inu (SHIB) and Fantom (FTM) did in their early days.
Currently, in its third presale phase, Gnox is an upcoming decentralized protocol that seeks to transform the future of investing with its innovative “Yield farming as a service” feature. For the first time, a community-focused platform will give potential investors a chance to leverage yield opportunities with no background in DeFi.
This revolutionary concept is made possible by deploying treasury assets to liquidity pools and lending protocols for rewards. 40% of that is given back to the native token (GNOX) holders in proportion to their holdings.
What led to the spike in Gnox price?
Gnox utilizes a new standard in tokenomics to support the underlying value of the ecosystem. For every buy/sell transaction of its native asset, there’s a 10% tax. Below is a breakdown of where the funds are used.
- 6% is added to the treasury
- 2% is reserved for marketing
- 1% is redistributed to GNOX token holders
- 1% goes toward creating a stable floor price by adding liquidity on Pancakeswap.
All these factors combined have a direct impact on maintaining the inherent value of the token to the upside. Furthermore, the incentive model of this platform attracts investors of all levels to choose an easy path of passive income.
Gnox DeFi experts do all the hard work in assessing safe Defi avenues to invest in. GNOX holders can participate in governance voting to arrive at a consensus regarding deployment strategy. The more tokens you have in your wallet, the higher your rewards will be. This will also depend on the growing strength of the treasury.
All the details regarding the current treasury balance and the corresponding allocation will be visible on the Gnox aggregator. Once the contract is launched, there will be no human intervention or central entity controlling the funds. All the unsold tokens after the presale event will be burnt, and it may lead to further price appreciation. Experts believe this is the best time to invest in the DeFi space, while the winter is around.
Join presale: https://presale.gnox.io/register
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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