Gnox (GNOX), Binance Coin (BNB), Cardano (ADA): Coins To Watch Amidst Bear Market – U.Today
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Gnox, Cardano, and Binance: What makes these three DeFi platforms so special? The answer is that they all have a shot at taking a big chunk out of the market leader, Ethereum, in the coming years.
Right now, Ethereum is the heavyweight smart chain and a bastion for decentralized finance platforms. But will it remain that way? How many of you are old enough to remember the browser wars between the two early leaders, Netscape vs. Explorer, both of which are dead now. Or the battle for search engine dominance between platforms such as Alta Vista which was bought by Yahoo and Excite, the doors of which have been blown off by Google. So being an early frontrunner doesn’t guarantee you’ll be able to pull away from the pack.
Binance is a well-entrenched DeFi powerhouse. Right now, $BNB is about one-third of the market cap of $ETH and gaining on them. And Cardano, with its slow and steady approach to development, is getting in shape to take on both behemoths. $ADA’s market cap is half that of BNB but is still at a respectable 16-plus billion dollars. And millions are pouring into several other competitive Layer 2 DeFi platforms.
But what about Gnox Token? What makes it so special?
While even technologists still have trouble dealing with crypto wallets and DeFi platforms, Gnox has come along and made crypto investing a no-brainer. In order for DeFi to see mass adoption it needs to get simple.
You might think of Gnox as a financial management service. You put your money in their hands and they do all the heavy lifting to identify and analyze the myriad of opportunities to invest their clients’ money into a diversified, risk-adjusted portfolio of individual assets across several market sectors.
In essence, all people have to do to invest in DeFi opportunities is to buy and hold the GNOX token. That’s it. No more CEXs and DEXs and staking and lending and pooling. All of that is done for holders. It’s called “yield farming as a service.”
While that’s an apt analogy to get your head wrapped around the idea, it’s a bit more complex than that. Gnox has developed a tool that gathers data on passive-income opportunities from across several platforms and blockchains. Those are narrowed down to the cream of the crop. Then GNOX holders can collectively vote on which investments are worthy — if they want to.
The treasury for these investments is funded by a 10% royalty on all aftermarket token sales. The majority of that goes into the treasury but 10% of that is also airdropped back to current holders. Profits from the treasury are shared proportionally amongst all GNOX holders on a monthly basis. The royalty assures that the treasury keeps growing whether we’re in a bull market or a bear market.
The Gnox platform is set to launch in mid-August. In the meantime, they’re offering some nice incentives to take part in their ICO. Aside from not having the 10% royalty in place, tokens are being burned at various stages of the ICO. When it’s over, any unsold tokens will be burned.
So while Cardano and Binance are both likely to take business away from Ethereum, Gnox Token has the potential to eat into the market cap of all of them.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
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June 29, 2022 at 05:39PM