Maybe buying altcoins during a crypto winter is not the best idea. Typically, riskier assets fall faster and harder and take longer to get back up than blue chips. So even if we have reached the bottom, popular altcoins such as Binance (BNB) and VeChain (VET) might need to stew a bit longer before they can cheer up.
BNB has lost two-thirds of its value since last fall’s highs. The coin now faces some serious resistance levels on the way back up. And BNB has actually fared better than most assets. On the other end of the spectrum, VET plummeted more than 90% in the same time period. Now trading at just two cents, a beaten-down VET is going to take its time getting back up.
If you want to make a little bit of money while you wait out the lull, consider getting in on the ground floor of some new tokens that are launching this summer. With a new token, there are no resistance levels to push through. If you pick your assets well, you could see a sudden, life-changing influx of wealth.
Gnox Token (GNOX) – Yield Farming As a Service
One asset that could fit the bill is GNOX. The Gnox platform will be launching in mid-August. Their innovative tokenomics and the simplicity of their strategy could make GNOX the first crypto investment token to gain mass adoption.
So what is Gnox Token? It’s one single token that gives you exposure to a diverse basket of cryptocurrencies and passive income-generating. All you have to do is buy and hold the token. That’s it. The rest is done for you. Gnox calls their innovative play “yield farming as a service.”
Early investors in GNOX are enjoying massive discounts on the token for the next couple of months. The way it works is the ICO is happening in three phases. Each closes on the 12th of the month. A certain number of tokens is allocated to each phase. At the end of each round, all unsold tokens are burned, thus raising the price of the token for the next round. One final burn before launch will drastically increase the price of the token once it goes on the open market.
This will also set the circulating supply of GNOX tokens on a downward trajectory. No more tokens will be minted after that point. In fact, tokens will be bought back and burned every month resulting in coveted eternal deflation.
The funds to buy tokens back will come from yield farming investments. The money for those investments comes from the Gnox treasury. And the treasury is funded by sales of the GNOX token. When investors buy GNOX, a portion of their purchase goes into the treasury. And if they sell their tokens, they have to leave another donation behind.
This “tax” if you will, assures that the treasury is eternally growing and producing more and more passive income. It also discourages speculating and encourages long-term holding.
The fun doesn’t stop there. An additional 1% rake on all GNOX sales is airdropped back to holders once every hour. So not only is the token deflationary, individual stacks are constantly growing. If GNOX is successful, it’s going to be very, very successful.
You still have time to get in on the GNOX presale. Hop on over to the Gnox.io website. Check out their whitepaper. Do your research. Early investors have already seen a 60% increase in the value of their stack. It’s not too late to make some gains this summer yourself.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.