Why Gnox’s (GNOX) “Yield Farming As a Service” may change DeFi forever and battle giants like Sushi Swap (SUSHI) and Yearn Finance (YFI)

2 years ago 173

The post Why Gnox’s (GNOX) “Yield Farming As a Service” may change DeFi forever and battle giants like Sushi Swap (SUSHI) and Yearn Finance (YFI) appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Given the massive rise in cryptocurrency investments, investors are also looking for strategies to earn passive income on decentralized platforms. Crypto assets worth almost $96 billion are locked in DeFi right now. One of the main components behind this exponential growth is an ROI-optimizing strategy known as Yield Farming.

The concept of Yield farming is unique to DeFi, wherein the investors use their tokens to earn interest and speculate. It can be done by providing liquidity to DEX, lending crypto through a smart contract, and staking tokens to provide security. It’s a high-risk investment with rapidly changing incentives, but the rewards are way higher than any other interest-bearing product in the centralized world.

While DeFi offers exciting financial opportunities, it also comes with risks, challenges, and complexities that new investors struggle to comprehend. This is the reason why usage is somewhat lackluster in this sector.

Gnox, a DeFi earning solution, aims to solve this problem by offering a revolutionary “Yield Farming As a Service” to entry-level investors. It takes the guesswork out of the equation by providing a single token to the users, which they can hold to reap the benefits of yield farming.

It is the first reflection project in the world that will use DeFi treasury assets to invest in safe liquidity pools and loaning protocols with high returns. A portion of the rewards accrued with these investments will be credited to $GNOX token holders in stablecoins. As the treasury grows in strength, the purchasing power will increase. This will not only maintain the buying pressure but also generate more rewards for long-term holders.

Furthermore, a 10% tax will be applied on each transaction to boost treasury funds, support ecosystem development, and create value for GNOX holders.

This groundbreaking concept can make life easier for an average investor who finds it troublesome to benefit from DeFi strategies. Gnox is on a mission to provide seamless service without any additional steps. Users can simply buy, hold, and earn interest without doing the hard work.

For an ecosystem that derives value from community, Gnox is a step towards the future of investing. Almost anyone can become a DeFi expert and get guaranteed returns on their investments with this innovative solution. The protocol will support multiple chains and offer top-notch educational services to transform the DeFi space forever.

The first phase of GNOX presale has already begun with 1.375B tokens on offer. Given the strong fundamentals of the project and unique DeFi features on offer, smart investors are betting on the success of this initiative.