It has been outright bloodshed in the crypto market, with Bitcoin losing important support levels one after the other. There’s no point sugarcoating this event as a market correction, as we are clearly heading towards the bear market.
Several leading cryptocurrencies like Ethereum, Solana, and Polkadot have been grounded by the carnage and are currently down to ashes. As inflation rises and regulations come into force, one can expect further volatility in the upcoming quarters. The macro outlook is still bullish, but many of the so-called utility tokens may never see a new all-time high.
Despite the turbulences, the industry continues to grow with groundbreaking innovations and developments on the cards. The excitement is still there, with talented developers pumping fresh blood into the space.
While the whole market is taking a plunge, one upcoming project, Gnox is ready to take the crypto world by storm. It is off to a great start within a fortnight of the presale, and has already gone up by 52%.
What is Gnox and why is it pumping?
The DeFi market is flooded with strategies that promise insane passive rewards for those who lock up their assets. There’s no doubt one can leverage various protocols to earn far better than any interest-bearing product. However, it is still early days for new investors to understand the mechanism and invest in legit platforms.
Gnox is looking to solve this problem by developing a community-focused, multichain protocol that offers “Yield farming as a service” to investors. The ecosystem is powered by a self-accruing reflection token, GNOX, which anyone can hold in an eligible wallet to reap timely rewards.
As per the whitepaper, the tax collected on every transaction will be added to treasury assets in the form of stable coins and LP tokens. The DeFi experts in the team will utilize these funds to provide liquidity to safe trading pairs and earn interest with DeFi lending. Whatever the treasury makes within a certain time frame will be redistributed proportionally to GNOX token holders in Binance USD (BUSD).
Furthermore, the buy-back event will create a buying pressure on the token, thus maintaining its value regardless of market conditions. Given the lucrative incentives on offer, the project model is aimed toward encouraging long-term investment.
As the treasury grows in strength, so will the rewards and the features. The promising roadmap for the next three quarters has lured investors into getting in early during the presale phase and making the most of their investment.
Join presale: https://presale.gnox.io/register
Website: https://Gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://twitter.com/gnox_io
