Let’s find out the possible effect of the Gnox token upon the Binance Coin
Symbiosis is when two distinct entities interact in a mutually beneficial fashion. A simple example observed in the animal kingdom is the relationship between the honey bee and the flower. The bee collects the nectar which is then used to feed the hive, and at the same time, spreads pollen allowing flowers to reproduce. In the crypto markets, this same phenomenon is often observed between two tokens or protocols.
In this article, the possible effect of the Gnox token upon the Binance Coin will be explored.
Gnox Token (GNOX)
Gnox is the first reflection token to offer yield farming as a service to its investors. The Gnox protocol will eliminate the complications natural to DeFi investment and thus will introduce the nascent sphere of economic activity to newbies. Gnox is eliminating the barriers and opening up DeFi investment to all. The protocol features a specially designed treasury that is deployed for the benefit of token holders within DeFi protocols and the generated revenue split amongst token holders in stablecoin.
How Will the Gnox Token Help Binance Coin (BNB)?
The Gnox token currently in its pre-sale phase will be launching at the end of Q2 2022 on the BNB Chain (BSC). It will be a protocol on the BSC and thus to interact with the protocol market participants will have to pay transaction fees on the network. The native token on the BSC is BNB. That means every transaction on the BSC requires BNB as ‘gas fees’. Therefore every participant who wants to invest in the Gnox protocol will have to own some BNB. Gnox has plans to scale massively and if successful in this mission, this event, could drive lots of traffic towards the BSC and force the price of BNB up due to demand.
Due to the scalable nature of Gnox, it could potentially see a huge influx of new users to the BSC.
After using the network and witnessing its transaction speed and low cost may decide to explore the ecosystem further. The BSC hosts PancakeSwap, one of the largest decentralised exchanges (DEXs), where tokens on the BSC can be bought and sold. Users of the Gnox protocol may migrate here, and all these new investors utilising the BSC and paying gas fees in BNB can only be a boon for the BNB token.
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Join Presale: https://presale.gnox.io/register