Is Avalanche (AVAX) and Pancakeswap (CAKE) Concerned about (GNOX) Defi?

Place/Date: - June 3rd, 2022 at 8:28 am UTC · 3 min read
Source: Gnox

Is Avalanche (AVAX) and Pancakeswap (CAKE) Concerned about (GNOX) Defi?

The DeFi revolution came as a reaction to the self-centered agendas of financial institutions that benefit themselves at the expense of their users. Decentralization focuses on full freedom and accountability without the need for controlling parties and intermediaries.

We have come a long way in this revolutionary transformation. Platforms like Avalanche and Pancakeswap have led the way for a growing DeFi ecosystem. Faster transaction speed and lower costs fueled the growth of these protocols, making them a destination of choice for DeFi enthusiasts.

However, the sector is still in its infancy and the biggest challenge right now is to protect the investors. Those new to the space often fall prey to dozens of crypto scams in hopes of multiplying their money overnight. It’s a free market with no central authority, and the only way to stay safe is by doing proper research.

The complex nature of DeFi protocols can be overwhelming for entry-level investors, and this is where Gnox has identified a huge gap in the market. It is on a mission to build a highly scalable DeFi earning protocol that not only earns profits for the user but also safeguards them from unknown risks.

How Gnox Demystify DeFi Earning?

Gnox is based on a reflection model where the ecosystem derives value from its own community and incentivizes users for just holding GNOX tokens. For each transaction on its network, a 10% fee is applied for the following reasons.

  •       To boost DeFi treasury funds and invest in the development of the ecosystem, irrespective of market conditions.
  •       To fund innovative marketing strategies that help in building a community at a rapid pace.
  •       To invest in safe DeFi protocols and share passive rewards to GNOX token holders in stable coins
  •       To redistribute 1% tax to every wallet that holds the utility token

As the treasury grows, the protocol will accept community proposals for various investment projects that generate consistent passive income every month. A small percentage will also be allocated to NFTs with real-world value.

Furthermore, the future roadmap outlines multi-chain expansion for a smooth transition from and to the Binance Smart chain. With plans to introduce NFT staking and a decentralized exchange, Gnox aims to fill the void and revolutionize the DeFi space like no other player.

The presale garnered a lot of attention following the news of a successful audit, and several DeFi enthusiasts are turning their attention from AVAX and Pancakeswap to Gnox.

Find out more about Gnox here: Website, Presale, Telegram, Discord, Twitter, Instagram.