Despite prevailing market conditions, projects are busy building. The bear market is the time to build and educate, laying deep foundations for the next bull market phase. The better built the foundation, the greater the eventual rally. DeFi (decentralized finance) is one area that continues to develop at an astonishing rate, with multiple projects carrying on with roadmap targets doing the hard work now to prosper later. This article features a crypto project that completely sold out its second presale phase and is attracting the interest of crypto holders active within DeFi.
Gnox (GNOX)
Gnox, scheduled to launch in Q3 2022 on the BSC (Binance Smart Chain), has just closed its second presale stage, where all available tokens were allocated; it completely sold out. Investors bought up every available token, and an investigation of the protocol’s mechanics explains why.
Gnox’s Mechanics
Gnox has created a single investment vehicle for DeFi earnings. Investing in DeFi has never been so simple; with the new strategy dubbed Hold To Earn, developers at Gnox have streamlined the convoluted process of generating yield within DeFi to holding a single token. Investors no longer need to form LP (Liquidity Provider) tokens, worry about impermanent loss, or be constantly alert for the project rugging.
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Gnox’s treasury does all the hard work on behalf of the investor and is deployed in trusted and longstanding DeFi protocols to generate income. GNOX holders receive a monthly stablecoin reflection proportionate to the number of tokens held. With the protocol’s treasury funded via buy and sell taxes, it has been designed to grow over time and deliver increasingly larger stablecoin reflections.
Avalanche (AVAX)
Ava Labs launched the Avalanche network in 2020. It is a layer one protocol that utilizes a PoS (Proof of Stake) consensus mechanism and is designed to solve the scalability issues faced by the Ethereum network, the leading blockchain with smart contract capability.
The introduction of faster and cheaper transactions made Avalanche a certified player within the DeFi sphere, and it is one of the most popular chains. The Avalanche network gives investors plenty of opportunities to earn within DeFi. Because it uses PoS, users can stake their native tokens AVAX to secure the network and generate yield, with staking rewards currently being 8.65% APR.
Binance Coin (BNB)
BNB is the native token of the BSC and the utility token of the world’s leading exchange Binance. BNB is a token that has gone from strength to strength since its release in 2017, initially trading at $0.15 per token; it now trades at $253 and has changed the lives of many early investors significantly. BNB is sometimes called a ‘blue chip’ crypto and will continue to be a central player in the years to come.
Final Thoughts
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AVAX and BNB holders closely watch Gnox’s final presale stage because of the shake-up the protocol could bring to DeFi. AVAX and BNB investors love to generate yield in DeFi, and with Gnox offering such a convenient source of passive income, it is a token they are unlikely to miss.
