Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
Over the last crypto bull run, DeFi newcomer Gnox saw exponential growth in price. It is not uncommon, though. A slew of DeFi platforms produced massive gains in 2020 and 2021. However, since reaching their record highs, the majority of them have fallen by 80% to 90% or more, wiping out all of their gains.
With a strong business model that resulted in Gnox’s price growth, crypto analysts believe that the token will top Ethereum’s initial coin offering in 2014.
Ethereum’s ICO Boom
Ethereum’s initial funding came from an ICO that took place in 2014. In exchange for bitcoin, buyers received ether, and more than 7 million ether—worth roughly $2.2 million—was sold in the first 12 hours of the sale.
By the time the sale was over, more than 50 million ether, or about $17.3 million, had been purchased. At the time, controversially, 9.9 percent of this ether was allocated to the Ethereum Foundation and another 9.9 percent went to the team who founded Ethereum. Many later ICOs adopted this feature, which is sometimes referred to as a pre-mine.
Most ICOs have used the Ethereum network and ERC-20 tokens, which are interoperable with all Ethereum tokens. Many ICO investors bought protocol-specific tokens with ETH. This increased ETH’s price, which fueled the ICO boom.
Gnox is expected to outperform Ethereum’s ICO.
Even before the Gnox platform officially launched, early investors have already made gains of more than 63 percent.
A rise in the price of the token over the coming month is all but guaranteed because additional gains are essentially built in. This is due to the fact that during the presale, a sizable portion of Gnox tokens is burned on the 12th of each month, every 30 days.
Investors have a good incentive to invest now. All unsold tokens will be burned prior to the launch. This guarantees a fair launch and will undoubtedly significantly raise the token’s price one more time before it is released onto the market.
Gnox is the first reflection token with a DeFi yield farming focus. The platform’s goal is to provide investors with a way to make passive income in the DeFi industry. One of the most well-liked investment options in the cryptocurrency world is yield farming.
One advantage of yield farming is the ability to generate passive cash flow from crypto assets without having to sell them. Traders can put their money into the liquidity pool, where the longer they hold onto their tokens, the higher the returns.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register