After a Surge in Demand which Takes the Price Up by 52%, Gnox Token (GNOX) Progress Will Be by Leaps and Bounds

Gnox token
Gnox token

The events of early May, most notably the terrible crash of UST and Bitcoin’s dramatic dive to $30,000 have left many investors scared and uncertain. The crypto bear market has arrived. This is expected when current macroeconomic factors are taken into account. It seems inflation is going to be the hot topic for the next few years, and many economists state it is going to get worse before it gets better.

Tech stocks have crumbled. The NASDAQ is down 30%. And anyone who drives will have seen the actual cost of inflation the last time they filled their car.

However, all is not lost, and specially selected for this article is a brand new project set to beat the upcoming bear market.

Gnox Token (GNOX)

Gnox has been drawing the attention of crypto analysts and the crypto community following its price movement. Gnox has a dynamic pricing model employed during its presale, which in simple terms, rewards early investors. Those who partake in the primary phase will enjoy a 20% token bonus at TGE (Token Generation Event), and those who participate in the second phase a 10% bonus.

What Caused Gnox to Soar?

In DeFi (decentralised finance), there are unfortunately many bad actors. This is mainly due to two factors, its open, permissionless nature meaning anyone can build and use anything within the sphere. And secondly, the inability of ordinary investors to read code and understand any pitfalls of the smart contracts they plan to use. KYC procedure has been implemented to solve the second issue, and thus development teams serious about their projects can share their identity with a company. This acts as a fail sale against fraudulent activities, for the identities can and will be turned over to the relevant authority in the event of such actions.

Undertaking KYC is a mark of trust and states that the development team is serious about the long-term vision of the protocol. Following Gnox’s KYC, investors rallied and drove the price up, galvanised by the knowledge that Gnox is here for the long run.

What is Gnox, and Why is it Primed to Rally?

Gnox is the first protocol to offer yield farming as a service. The GNOX token features a buy and sell tax, so part of every token transaction is used to build the protocol’s treasury. The treasury is then deployed throughout DeFi protocols and all the generated yield is split in stablecoin amongst GNOX holders. Gnox is a pro-growth protocol: the principal of the treasury is never touched, only the proceeds.

During the bear market, the developers have created a protocol that will pay out larger and larger stablecoin reflections to investors, with the protocol naturally designed to favour long-term holders. In the current market conditions with impending lower lows, stablecoins are an essential store of value for crypto investors. Given Gnox’s ability to generate them for investors, several crypto analysts have acknowledged Gnox as a bear-proof investment. 

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