Binance Smart Chain is a smart contract blockchain focused on DeFi. In fact, this is the largest crypto exchange on Earth. There are 43 separate DeFi platforms all well connected in BSC. One of the latest is called Gnox Token. Before we find out why so many people see Gnox, let’s take a quick look at what happened at Binance HQ.
What happened was that U.S. regulators were looking into whether Binance violated SEC rules. The SEC suspects that Binance Coin (BNB) qualifies as a security and must be registered with the agency.
In a 2017 whitepaper, Binance said that circulation would be limited to 200 million. Half of the tokens are available for ICOs. Another 80 million has been reserved for the founding team. Binance also said that 85% of the funds raised in the ICO will be used to build the exchange.
Binance indicates that Binance.com and Binance.US are separate entities. “Binance.US is a separate U.S. -focused trading platform that serves U.S. users by offering products and services that comply with U.S. federal and state regulations,” the company said.
It will be interesting to see how this plays out. But, in the end, it is not possible to close Binance. The user base will continue to grow and the platform will continue to be attractive to DeFi developers.
What’s all the fuss about Gnox Token?
The Gnox token is a reflective DeFi token that will run on the Binance Smart Chain rails in mid -August. Before the platform was even launched, crypto investors made money on GNOX tokens. How can that be?
The Gnox team has created a unique way to handle ICOs that encourages investors to sign up quickly. The ICO is divided into three -month phases. Also, a specific number of GNOX tokens are provided for each phase. At the end of each phase, any unsold tokens will be burned before the next phase begins thus raising the value of the token. In addition, all unsold tokens will be burned prior to release. This is expected to reduce the circulating supply and the price of tokens when it reaches the open market.
Introducing yield farming as a service
So what is Gnox? The Gnox platform is an innovative DeFi platform that offers crypto investors “producing agriculture as a service.” Farmer returns are the act of investing in passive income opportunities such as liquidity pools, lending platforms, and staking. The resulting farming process is complicated, time consuming, and potentially risky (just ask LUNA investors).
Gnox, however, makes yield farming easy and almost risk-free. All investors have to do to earn passive income through various DeFi platforms is just buy and hold GNOX tokens.
Royalty on all aftermarket sales of GNOX tokens goes to the public treasury which is used to invest in the opportunity. Profits from these activities are kicked back to the GNOX holder via burns and airdrops. The key to long -term success with GNOX is that every time someone buys or sells GNOX tokens, they have to leave some. This means that regardless of whether it is a bear market or a bull market, the treasury becomes richer and thus can generate more passive income for GNOX holders.
Frankly, we think it will be difficult to make productive farming easier. And it’s easy to see what drives mass adoption.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
The SEC declined to comment.
Always do proper research when handling pre-sales of currencies and tokens. The above information is not investment advice by CryptoMode or its team, nor does it reflect the look of the website or its staff.
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