Every crypto market cycle features protocols that burst onto the scene and cause a massive disruption to the status quo. These protocols typically target highly practical market verticals, and the native tokens of these projects go on to see explosive gains. This article features a protocol hailed by several experts as a serious contender for the next breakthrough project of the new generation.
Gnox offers yield farming as a service and aims at revolutionising the realm of DeFi (decentralised finance) earnings. Instead of being reserved for the select few with time and technical ability, Gnox brings DeFi investment to all crypto investors. The GNOX token represents a single investment vehicle facilitating meaningful participation in DeFi.
Gnox features a treasury which is the first treasury designed for investors. Deployed in DeFi protocols to generate yield, it provides all investors with a monthly stablecoin reflection. Funded via buy and sell taxes, when GNOX launches on the open market, this capital fund will grow in value. As the capital sum of the treasury accumulates, so will its ability to deliver more significant reflections. The market has not priced in Gnox’s passive income stream, making this project undervalued. With Gnox bringing DeFi investment to a broader percentage of market participants, the potential for this protocol is colossal.
Uniswap changed the face of DeFi forever. This DEX (decentralised exchange) became the blueprint for building a successful decentralised exchange. Uniswap introduced greater swap efficiency for traders and allowed investors to generate yield by creating LP (liquidity provider) tokens by introducing an automated market maker system. This removed the intermediaries involved in the swapping process and meant traders interacted with smart contracts. Uniswap enabled instant swaps and has become the foundation of all subsequent DEXs.
Uniswap now has liquidity depth that rivals some of the largest CEXs (centralised exchanges), and UNI, the governance token of the protocol, trades at $6.92, down from its ATH (All-Time High) of $44. The rise of this token was extraordinary; at the start of 2021, it was valued at $4.70 and just five months later hit its ATH.
Aave is the largest protocol ranked by TVL (Total Value Locked) and introduced and popularised one of the most utilised functions in DeFi- permissionless lending. Lending is one of the core aspects of TradFi (traditional finance) and has driven economic growth globally. Aave delivered the ability to access funds instantly through collateralisation in a permissionless manner. This protocol provided a critical financial service to anyone with an internet connection.
AAVE, the governance token, experienced explosive growth proportional to the development of the protocol. It was valued at $90 at the start of 2021 and by May and reached $632.
Protocols that deliver value to the ecosystem will always grow. Uniswap pioneered the way to develop DEXs, Aave brought critical financial services to the blockchain, and Gnox makes DeFi investment equitable and accessible. Investors should always follow value, and price appreciation will naturally follow.
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