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Gnox Crypto: Everything You Need to Know

gnox crypto
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Gnox is a DeFi investing platform that helps users streamline crypto investing while generating passive income through yield earning, lending, and other decentralized protocols. Powered by the native GNOX utility token, the Gnox platform runs on BNB Smart Chain (BSC). There are more than 200 million tokens in the GNOX token sale, i.e., almost 80% of the total supply. Users need to pay a 10% tax for each Gnox transaction.

How does Gnox crypto work?

Gnox helps make DeFi investing accessible to crypto users who might just be getting started with the decentralized finance space. Gnox uses treasury funds to enable investments across crypto borrowing and lending services, the NFT sector, and pools of tokens providing liquidity.

Gnox makes up to 500% yield for its liquidity-providing service. The company plans to harness the power of multichain functionality to unlock the true potential for high yields on Ethereum (ETH), BSC, Avalanche (AVAX), Fantom (FTM), Near Protocol (NEAR), Cronos (CRO), Velas (VLX), etc. With Gnox crypto, you get up to 50% APR.

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Gnox crypto: supply, price, and token sale

Currently, there are 206,000,000 GNOX tokens, represented by the $GNOX symbol. The value of the Gnox token during the GNOX sale climbed from $0.100 to $0.015. In the second phase, Gnox tokens were sold for $0.016. Now, with a Gnox crypto pricing of 0.016 cents, the Gnox market cap is approximately $3.2 million.

79% of the Gnox token supply (161 million GNOX) is up for the three-phase token sale. Gnox crypto that will not be sold as a token will be distributed like this:

• 5% for each of the team, marketing, and development.

• 6% for the public.

Gnox tax breakdown

A 10% tax must be paid against each transaction of the Gnox crypto token, fulfilling several use cases, such as marketing incentives, community reward distribution, and treasury capital regeneration. GNOX holders get monthly DeFi rewards, but the owners get a share of each GNOX transaction every 60 minutes.

• 1% of every transaction goes to the holders in $BUSD.

• 1% of each transaction goes to a Liquidity Pool for Pancakeswap for creating a stable price floor.

• 6% of every transaction gets transferred to the DeFi Treasury.

• 2% of all transactions is used for marketing efforts so the company can get a consistent flow of new users.

Gnox treasury

Gnox’s stablecoin holdings, NFTs, and DeFi liquidity pool (LP) tokens make its treasury, which serves two main purposes:

• It helps collect rewards accrued from DeFi yield-bearing protocols and redistribute a part of these rewards to GNOX owners.

• It holds NFTs to create long-term appreciation opportunities.

It’s hard for investors, especially newcomers, to evaluate and get DeFi returns because of the complex and fast-paced nature of cryptocurrencies. A majority of entry-level investors don’t fully understand how to benefit from providing liquidity, loaning protocols, and other DeFi strategies. Gnox is trying to bridge that difference.

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Sunny yadav author

Author: Sunny Yadav

Sunny is a creative individual with a flair for writing, who enjoys simplifying tech concepts for modern readers. With his years of experience working with global tech companies related to AI, ML, cybersecurity, blockchain, crypto, big data, and IoT, Sunny brings the editorial eye to the table, making him a great addition to our team.

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