Is Gnox (GNOX) Prepared To Take The World Of DeFi By Storm Like Pancakeswap (CAKE) Once Did? Massive Burn, Price Increase By 63%, And A Monthly Passive Income

PancakeSwap (CAKE) is a decentralized finance (DeFi) platform that offers yield farming opportunities. The site launched during “DeFi Summer” of 2020 and it quickly gained popularity.

Another new DeFi platform is launching soon. Will Gnox Token (GNOX) take the world by storm as CAKE did after its launch? And how will it perform?

First, let’s look at PancakeSwap so we know what we’re comparing to.

PancakeSwap (CAKE) offers yield farming

The PancakeSwap platform not only facilitates the exchange of cryptocurrencies but it also offers yield farming opportunities. Users stake a variety of tokens in order to provide liquidity for exchanges. In return, they earn a portion of the transaction fees.

Trading on PacncakeSwap is limited to BEP20 (Ethereum-compatible) tokens. PancakeSwap users who deposit funds into the pools receive various tokens in return including CAKE, SYRUP, and FLIP. We won’t get into how all that works, because it takes some explaining.

By April of 2021, the price of CAKE had passed $43. Since that time it has fallen more than 90% along with the rest of the DeFi altcoin market to around $3. That means that if you bought at any point after January, 2021, and you held onto your CAKE, you’ve lost money on the token and your losses might far outweigh the gains from yield farming. Also, if PancakeSwap were to experience a black swan event such as we’ve seen with some other DeFi platforms, its price could plummet at a moment’s notice.

Gnox Token (GNOX) offers yield farming as a service

While PancakeSwap offers yield farming, guess who has to do the farming. That’s right, you do. You have to do all of the hard work including learning how to use the platform, all the research to determine which cryptocurrencies to stake, and all the babysitting of your investments to make sure they’re performing as hoped.

Gnox Token, on the other hand, offers “yield farming as a service.” This means that all investors have to do is buy and hold the GNOX token and the rest of the work is done for them. A common treasury is used to invest in a variety of passive income opportunities across several DeFi platforms and blockchains. This diversification all but eliminates the risk of a black swan event wiping out the treasury.

One of the special things about the GNOX token is that the treasury is designed to grow in all market conditions. If people are clamoring to get GNOX tokens, the treasury goes up. And if people are clamoring to sell GNOX tokens, the treasury also goes up in value. This is achieved by attaching a 10% royalty to all aftermarket sales of the token (which begins in mid-August). As the treasury grows, over time it produces more and more revenue that’s distributed proportionally amongst faithful GNOX holders.

Another special feature of GNOX is its presale scheme. Once each month leading up until launch, a portion of the tokens are burned thus increasing the price of the token. So far, the earliest adopters have seen a gain of 63%.

Then, upon launch, the rest of the unsold tokens are burned. This is expected to greatly increase the price of the token one it hits the open market. So, the earlier one adopts some GNOX tokens, the more gains they’ll see by launch time.

Gnox Token’s strategy makes DeFi and passive income super simple and nearly risk-free. We think that this will gain the platform widespread popularity that will rival or even surpass that of more complicated DeFi platforms such as PancakeSwap.

Learn more about Gnox:

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

For publishing articles on our website get in touch with us over email or one of the accounts mentioned below.