By EWN •
Updated: 15 Jul 2022 • 17:07
There are three traits that can make a top-10 cryptocurrency — utility, popularity, and simplicity. If your coin or token doesn’t have a lot of one or two of these three qualities, it’s going to get crushed by the competition.
Binance Coin (BNB) is currently the 5th largest altcoin by market cap. It’s success is due for the most part to the fact that Binance is one of the most used crypto exchanges on Earth. That is, BNB has tons of utility. Not that it has mass consumer adoption yet, but it is a favorite haunt of experienced crypto traders.
Dogecoin (DOGE) is successful almost exclusively because of its popularity and instantly recognizable brand name. DOGE doesn’t offer a whole lot in the way of utility, but it does have the most recognizable logo of any altcoin. Never underestimate the power of a strong brand name to attract a dedicated community.
Simplicity is harder to come by in altcoins. Bitcoin is simple. Its mission is simply to act as a store of value and payment method. It doesn’t do anything fancy. It leaves all the fancy stuff up to layer two developers.
However, there is one altcoin that is simple like Bitcoin, and that packs tons of utility punch like BNB. And it’s only a matter of time until Gnox Token (GNOX) achieves the popularity and brand name recognition of DOGE or Bitcoin.
The simplicity lies in the fact that GNOX has one single function — that is to make cypro investing as simple as humanly possible. In order to invest in crypto safely, it’s super important to diversify your holdings. But who really has the time to research every altcoin that comes around? And who has the time to compare all the myriad of yield farming opportunities out there?
With the Gnox platform, all crypto investors have to do is buy and hold GNOX tokens. The rest is done on their behalf. The Gnox platform gathers data on scores of DeFi tokens and passive income opportunities across several platforms and blochchains. A team of crack DeFi analysts then scours the data to find a nice rounded basket of investments.
A common treasury is allocated to several different types of passive income opportunities such as staking, lending, and liquidity pooling. At the end of each month, profits from these investments are used to buy back and burn GNOX tokens. This reduces the number of tokens in circulation and raises the price. This buy-back-and-burn mechanism assures that GNOX token has a perpetually deflationary supply.
Additionally, 6% of all aftermarket sales of GNOX token is raked into the treasury. Money can never be taken out of the treasury. This assures that money is perpetually flowing into the treasury so that it earns increasingly larger returns each month. Also, 1% of all sales is paid back to GNOX holders as a kind of royalty. This assures that the size of holders’ stacks is perpetually growing. It also encourages long-term holding while discouraging speculative short-term trading.
You really can’t make crypto investing any simpler than that. The great news is that you still have time to get in on the pre-sale of GNOX token before the platform launches in August. Periodic token burns assure that early investors are well rewarded upon launch. In fact GNOX has already gained 63% since the presale started. Moreover, all unsold tokens will be burned before launch assuring a fair launch and potentially multiplying the value of the token on Day 1.
You can learn more about GNOX tokenomics by checking out the project whitepaper on the Gnox.io website.
Learn more about Gnox and get in on the pre-sale at Gnox.io.
Join Presale: https://presale.gnox.io/register
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our
Download our media pack in either English or Spanish.