Gnox Token (GNOX) presale is in full auto after the team completes KYC process with Soken Team

Gnox Token (GNOX)

Gnox now in its primary presale phase has already begun to fly. Its value has soared 52%, and the final days for investors to lock in the best rate with a 20% token allocation bonus are ending. The Gnox protocol employs a dynamic pricing model, and following a successful KYC procedure of the team, investors have flocked to the token and driven the price up. Many analysts are touting this coin to go up in price again during its second presale phase.

What is Gnox?

Gnox is the first protocol to offer yield farming as a service. Gnox is on a mission to make DeFi investment egalitarian. Many are barred from investing in the fastest-growing financial sphere due to a lack of time or technical knowledge. DeFi investment is risky, complicated, and a space full of bad actors. Gnox has distilled this process into a single investment vehicle, meaning GNOX holders are automatically investing in DeFi.

The token features a buy and sell tax. Part of every token transaction goes toward building a treasury which is then put to work in DeFi protocols. The yield generated is shared in stablecoin amongst GNOX holders proportionally to the number of tokens held. With the treasury principal never being touched, only the proceeds, Gnox has built a growth-orientated treasury that theoretically will begin to pay out greater and greater revenue.

Analysts have consistently pointed to this fact when asked about the surging demand for the token. Many point to the fact that with prevailing bearish market conditions, a token that pays out stablecoin is a highly valuable asset that all investors should at least consider adding to their portfolio.

KYC Procedure

KYC (Know Your Customer) is a process taken from traditional finance (TradFi) and turned on its head for DeFi. Typically it involves the financial institutions verifying the identity of the person who wants to utilise their services to avoid fraud and determining suitability for various financial products. In DeFi, where everything is open and permissionless, there is no need to verify identity to utilise services.

However, DeFi is still the wild west with an uncertain regulatory framework. It is full of bad actors, and most investors participating in the sphere cannot read code, therefore, are unable to verify contracts themselves. KYC in DeFi involves a project’s team sharing their identities with a company, these identities will then be shared with the appropriate law officials in the jurisdiction following any fraudulent activity.

Soken.io

A highly respected firm that has partnered with CoinMarketCap, CoinGecko, and Crypto.com. Seen as a leader in the industry, it began auditing smart contracts before expanding its business into the legal field to help developers operate in accordance with the law depending on their jurisdiction.

The Gnox team has completed a KYC procedure. This has shown investors that they are serious about the project’s development and are in it for the long term. Investors have responded with an aggressive influx of capital driving up the token’s price.

Find Out More Here:

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

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