Key Takeaways:
- Gnox is a DeFi product that aims to offer "Yield Farming as a service" to investors.
- The GNOX token presale is currently ongoing.
NEW DELHI (CoinChapter.com) — Gnox crypto is a new platform that aims to bring DeFi income to users with little or no knowledge of DeFi yield earning protocols.
DeFi platforms provide investors with passive income options through yield farming, liquidity pools, staking, lending, etc. Investors new to the space might find the various strategies particularly confusing, giving birth to the Gnox crypto project.
The project developed a non-custodial platform that uses treasury funds to make profits on behalf of users. Gnox uses a namesake native token, GNOX, to redistribute profits to investors.
The first presale of the GNOX token is currently underway and will last till Jun 12. After that, the second presale phase will last for one month, from Jun 12 to Jul 12.
What Makes Gnox Token Different?
The Gnox crypto project offers a new approach to DeFi income by providing “Yield farming as a service” to investors. The Gnox project claims to be scalable as needed and suitable for both novices and seasoned investors.
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Gnox project has created a treasury, which would help the project become a liquidity provider (LP) in a pool. Large liquidity providers usually enjoy a very high APY% on their investment, sometimes as high as 100% to 500%.
However, the Gnox crypto project would invest in safer pools that offer an APY% ranging between 20% and 80%. In addition, after claiming the pool rewards, Gnox will use the reward to buy GNOX tokens for redistribution among holders.
However, the firm claims it will be buying GNOX coin from the secondary markets, effectively making it similar to a buy-back burn.
The GNOX token will launch sometime in Jul. Q3 2022 will also see Gnox initiate LP acquisitions and purchase of community NFT. In addition, the platform has also ensured transparency by scheduling quarterly and annual asset audits of its treasury.
On May 22, Gnox announced that the project had passed a KYC by the blockchain security firm Soken.
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Other than investing in liquidity pools, Gnox will also use the treasury money to invest in NFTs, acquiring and trading the digital assets for profit.
GNOX Coin Tokenomics
The GNOX coin has a total supply of 5,000,000,000 tokens, of which 55% (2,750,000,000 GNOX tokens) have been allotted for the presale. The team would own 5%, or 250 million GNOX coins, of the total supply.
In addition, marketing and development would share 10% (500 million GNOX tokens) each of the total supply.
Gnox would also charge 10% tax on all ordes, of which 6% would go to treasury. Liquidity pools will receive 1% of the transaction charge, and 1% would go towards redistribution.
