Place/Date: - July 28th, 2022 at 2:52 pm UTC · 3 min read
A token selling out during its presale is a good omen and proof of solid momentum and community support behind the project- two things essential to a successful protocol. This article investigates one such token that is beginning to draw attention from whales on other blockchains, and the migration of these curious whales is a distinct possibility.
Gnox completely sold out its second presale stage and now enters its third and final stage. Gnox is the first of its type and the leader in a new generation of reflection tokens. Gnox makes DeFi (decentralised finance) earning easy, attracting large whales from the Ethereum and Avalanche ecosystems looking to generate yield with their assets. Leveraging next generational technology Gnox is disrupting DeFi.
Gnox is unique in its DeFi investment approach and has dramatically simplified the process. Instead of users searching for trusted protocols, forming LP tokens, and constantly checking the project hasn’t rugged- Gnox’s treasury does all the hard work. Investors will receive an hourly distribution of GNOX and a stablecoin reflection every 30 days. Funded by buy and sell taxes, the protocol’s treasury earns yield on behalf of investors, and designed to accrue, Gnox will likely make larger and larger stablecoin payouts with time. This simplicity has caused excitement within the crypto community. Some Ethereum whales are considering moving to Gnox due to its easy and low-touch solution for generating passive income.
Ethereum launched in 2015 and revolutionised the crypto asset sphere forever. Introducing smart contract capability the Ethereum network birthed DeFi, a brand new financial landscape where owners of digital assets could generate yield. DeFi is developing rapidly; it started by mimicking TradFi (traditional finance) but is now introducing new and novel financial services made possible by the composability of blockchain technology.
Ethereum draws closer to its famous merge and is building significant hype. The majority of crypto whales operate within this ecosystem. It is by far the most extensive and most prosperous ecosystem within crypto, with more than 60% of the total market’s TVL (Total Value Locked) hosted in Ethereum smart contracts.
The Avalanche network launched in 2020 and brought DeFi investment to a greater audience. Being EVM (Ethereum Virtual Machine) compatible, developers could port their Dapps (decentralised applications) across from Ethereum, with its slow transaction speed and high gas fees, to Avalanche, with its rapid transactions and low cost. The result has been Avalanche becoming a critical player in DeFi and one of the largest chains ranked by TVL. Avalanche has positioned itself as a blockchain of tomorrow and will remain a central figure as DeFi evolves.
Crypto whales love to generate yield with their crypto. Whales understand the laws of finance better than most and know that having their assets working for them and generating yield is a central pillar of financial independence. The low-touch solution and monthly stablecoin payout offered by Gnox are proving highly attractive to these prominent players, and it is likely to see a migration in the coming weeks.
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