Coins to watch in the middle of the bear market
Launch of the GNOX token to address the main challenges of the DeFi segment
Gnox, Cardano and Binance: what makes these three DeFi platforms so special? The answer is that they all have a chance to take a big chunk out of market leader Ethereum in the coming years.
Right now, Ethereum is the heavy smart chain and a stronghold for decentralized finance platforms. But will it stay that way? How many of you are old enough to remember the browser wars between the first two leaders, Netscape versus Explorer, both of which are now dead. Or the battle for search engine dominance between platforms like Alta Vista, which was taken over by Yahoo, and Excite, whose doors were blown out by Google. So being among the first does not guarantee that you will be able to pull yourself away from the pack.
Binance is an entrenched DeFi powerhouse. Right now, $BNB is around a third of the market cap of $ETH and is earning on them. And Cardano, with its slow and steady approach to development, is gearing up to take on the two juggernauts. $ADA’s market cap is half that of BNB, but it’s still respectable at over $16 billion. And millions are flocking to several other competitive Layer 2 DeFi platforms.
But what about the Gnox Token? What makes it so special?
While even technologists are still struggling to manage crypto wallets and DeFi platforms, Gnox has come along and made crypto investing a no-brainer. For DeFi to gain mass adoption, it needs to be simple.
You could think of Gnox as a financial management service. You put your money in their hands and they do all the heavy lifting to identify and analyze the myriad of opportunities to invest their clients’ money in a diversified, risk-adjusted portfolio of individual assets across multiple market sectors. .
Essentially, all people have to do to invest in DeFi opportunities is buy and hold the GNOX token. That’s it. No more CEX and DEX and staking, lending and pooling. This is all done for the incumbents. This is called “yield farming as a service”.
While that’s an apt analogy to get the idea across, it’s a bit more complex than that. Gnox has developed a tool that brings together data on passive income opportunities across multiple platforms and blockchains. These are reduced to the cream of the crop. Then, GNOX holders can collectively vote on which investments are worthwhile – if they so choose.
The cash for these investments is funded by a 10% royalty on all secondary market token sales. The majority of this sum goes to the Treasury, but 10% of this sum is also flown back to current holders. Treasury profits are shared proportionally among all GNOX holders on a monthly basis. The royalty ensures that cash continues to grow whether we are in a bull or bear market.
The Gnox platform is expected to launch in mid-August. In the meantime, they offer nice incentives to participate in their ICO. In addition to not having the 10% fee in place, the tokens are burned at various stages of the ICO. Once completed, any unsold tokens will be burned.
So, while Cardano and Binance are likely to pull business from Ethereum, Gnox Token has the potential to eat away at the market capitalization of each of them.
Learn more about Gnox:
Join the presale: https://presale.gnox.io/register