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Over the past couple of years, crypto staking has become an extremely popular strategy to earn passive profits on digital assets. Anyone can put their idle cryptos to work and earn rewards with minimum effort.
What is staking?
Staking involves locking up your digital assets on blockchains that leverage Proof-of-stake as a consensus protocol. These are utilized to secure the network and validate transactions. As a result, you are rewarded with the relevant tokens.
Unlike the Proof-of-work concept where you need specialized computers and a high-energy setup, staking is a much easier way to reap rewards without any additional costs. Unless you want to become a validator yourself, you can easily delegate your assets to accumulate rewards.
Tether (USDT) staking is a great example of how safe and seamless it is to buy, hold and earn interest with negligible risks. A majority of centralized and decentralized platforms offer incredible APY returns, much higher than any conventional interest-bearing product.
Some of the best staking sites offering high-interest rates include Curve, Nexo, BlockFi, and Cryto.com. No savings account can make you 12% a year with limited downside risks, given that the value of USDT is always pegged to the US dollar.
On the other hand, the Gnox protocol makes it even more convenient for users to generate passive income. By just holding the token in an eligible wallet, the holders can reap consistent rewards. Unlike USDT, you don’t have to transfer your assets to any platform or stake on-chain.
How does Gnox reward the community?
A typical reflection project has a treasury to support development and marketing. Gnox identified a gap where the treasury can also be deployed to incentivize token holders. This would encourage long-term investment in exchange for guaranteed passive returns.
The funds are allocated to safe DeFi protocols, and the proceeds from these investments are redistributed to GNOX holders. DeFi yields from adding liquidity and lending cryptos keep coming back as an incentive for the community. Users don’t have to take any additional steps to earn passively. Furthermore, every time GNOX is traded, you get a 1% tax credit to your wallet every 60 minutes.
Everything is paid out in stable coins, so there’s no risk of losing the market value of your rewards, in the event of a crash.
Join presale: https://presale.gnox.io/register