Unlike Other Presales, Gnox Token (GNOX) Presale Is Getting The Attention It Deserves. Learn How The Token Surged 52% In Price

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The post Unlike Other Presales, Gnox Token (GNOX) Presale Is Getting The Attention It Deserves. Learn How The Token Surged 52% In Price appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Presales are something that excites seasoned crypto investors. Those who have been in the space since 2017 will undoubtedly remember the ICO boom that year. The websites that tracked upcoming ICOs sprang up everywhere, satiating investors eager to enter projects on the ground floor.

Much has changed since then, and with many of these ICO projects failing, investors have become less interested in presales. Now they often go ignored by investors who wait for market price action confirmation before entering. However, once in a while, a project comes along that cannot be ignored; this article features a brand new crypto project currently in its presale phase that has grabbed the attention of investors.

Gnox Token (GNOX)

Gnox is a new protocol slated to release at the end of Q2 on the Binance Smart Chain (BSC). Gnox is bucking typical procedure with many projects waiting for ideal market timing- prevailing bullish sentiment- Gnox is instead powering through its launch during strongly bearish market conditions. Those familiar with the space know that a project that builds during the bear will inevitably flourish during the bull. But this alone is not enough to explain the protocol’s success.

Why is GNOX Getting Attention?

The 52% price rally enabled by the project’s dynamic pricing model came directly after the team completed KYC procedure. KYC procedure is the stamp of approval for DeFi projects that showcases to investors that the team is serious, nonfraudulent, and has a vision for the future. Investors were galvanised, and their support showed in the price action.

What is GNOX?

Gnox is the first protocol to offer yield farming as a service and thus possesses a first-mover advantage, which is a potent force for market success. When questioned, analysts who have studied the whitepaper have consistently pointed out a single facet of the project that explains its draw to investors: the treasury.

Gnox’s treasury, funded via buy and sell taxes, is a growth-focused passive income machine. Every new investor in Gnox who buys a token and every investor who sells a token contributes to accruing this capital fund. It is then deployed in various DeFi protocols to generate yield. This yield is then converted to stablecoin and split amongst GNOX holders proportional to the number of tokens held. But the exciting mechanic is the growth-orientated nature of the treasury: the capital is never touched, only the proceeds generated.

The developers at Gnox have designed a protocol that will slowly but steadily grow with time, reflecting a greater and greater volume of stablecoin to GNOX holders, thus driving up the desirability of the token and, therefore, its price. GNOX is a project all investors would be wise to add to their watchlist.