What do Gnox Token (GNOX) and Moonbeam (GLMR) have in common?

2 years ago 130

The post What do Gnox Token (GNOX) and Moonbeam (GLMR) have in common? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The crypto market has been going down fast and hard lately, reaching new lows we haven’t seen in months. That’s a fact, and no one is happy about this.

But we think that 2022 will be a big year for cryptocurrency, just like 2021 was. It will be different from 2021, though. Some of the weaker projects and tokens will lose value, but some of the best projects will rise to the top.

Moonbeam and Gnox are two of the industry’s most anticipated projects. Let us take a peek at these two emerging platforms.

Gnox (GNOX)

Gnox is the first DeFi earning protocol to offer “Yield Farming As A Service” to individual and institutional investors.

This token is a yield farming platform that may pay out up to 50% APY to crypto investors. The key to its high rates is its treasury, which is brand new in the crypto industry.

The project lends and reaps the benefits of a portion of its treasury, allowing them to provide value to investors while ensuring long-term and growing returns.

Moonbeam (GLMR)

Moonbeam is a developer-focused blockchain that aims to be compatible with Ethereum’s existing development tools and network. It offers a complete EVM implementation, a Web3-compatible API, and bridges to existing Ethereum networks. This allows developers to easily port their current Solidity smart contracts and DApp frontends to Moonbeam.

On the Polkadot network, Moonbeam will also be a parachain. That implies it will benefit from the Polkadot relay chain’s shared security and will be able to merge with other Polkadot-connected chains (once that functionality is available on Polkadot).

What are the similarities between Gnox (GNOX) and Moonbeam (GLMR)?

Gnox and Moonbeam are comparable in that they both provide opportunities for passive income.

By putting GLMR to work, users can earn low-risk rewards. Moonbeam gives users the option of selling their coins to collectors. Then they compensate these nodes for their contributions to the platform’s security. They distribute the awards among individuals who have been executed based on the amount of money they have staked in the game.

Gnox is building a decentralized network that compensates its users passively. Each transaction is subject to a tax to assist the DeFi treasury.

This concept of treasury is new to the industry, and it is used to supply liquidity to safe pools while also collecting a return on investments. Based on the portfolio size, their holders receive a share of the earnings made by these investments.

Gnox uses this technique to incentivize long-term investment by offering dividends to users who hold the token. Investors are protected from market volatility and limited liquidity because the payout is paid in stable coins.