Most crypto analysts are in agreement that even if this bear market is coming to an end, it’s going to be a while before the crypto space sees any sustained upward movement. So go enjoy your summer. While you do that you should also be thinking about what you’re going to do when the crypto market starts turning around again in a few months’ time.
Here are three altcoins for you to research that could provide investors with returns upwards of 25X in the coming decade.
Convex Finance (CVX)
First, we have Convex Finance (CVX). This important DeFi protocol allows crypto holders using the Curve finance (CRV) platform to earn a greater cut of trading fees without actually staking the asset. Curve is the largest DEX in the world by TVL. No one knows the true identity of the developers of the platform. Nonetheless, most DeFi investors consider CVX to be a fairly low-risk investment with serious upside potential — a rare combination in altcoins.
The whole Convex/Curve thing is a bit complex for the average crypto-curious investor so we won’t try to explain it all here. The DEX is more geared toward experienced crypto investors and traders. Although it’s not likely to see mass consumer adoption, CVX growth is only limited by the amount of value it can attract to its platform. And Convex has set some very high stakes that are sure to attract billion-dollar investors.
BitDAO (BIT)
BitDAO is an ambitious project that’s on a mission to build its own fully decentralized crypto investment platform. Managed completely by BIT holders BitDAO is one of the largest and most respected DAOs in the world.
There are some big players behind BitDAO including PayPal co-founder Peter Thiel, Bybit, and many others.
BitDAO supports the development of platforms focused on DeFi, DAOs, NFTs, and gaming with R&D fund. They so this in exchange for assets related to those platforms. The goal is to amass a valuable treasury of assets.
BitDAO will be a true test of whether or not a DAO can pull off triple digit returns.
Gnox Token (GNOX)
While both Convex and BitDAO might be a bit too complex for crypto-curious investors, Gnox Token has gone in the other direction and has made crypto investing and yield farming as simple as pie. All you have to do is buy and hold the GNOX token in order to invest in a diversified collection of passive income-producing cryptocurrencies. Gnox calls it “yield farming as a service.”
The trick is, every time someone sells their GNOX tokens, a portion of the sale is raked into a common treasury. The treasury is invested in assets across several platforms that produce passive income. With each trade, the treasury grows larger and larger and thus can produce more and more passive income. All of the profits are shared equally amongst GNOX holders — similar to buying an ETF.
Profits from investments are used to buy GNOX tokens off exchanges and burn them thus reducing the circulating supply and increasing the price. So not only is the treasury constantly growing, the token is deflationary. On top of all that, a 1% royalty on all token sales is airdropped back to holders resulting in an ever-increasing stack of GNOX tokens — just for holding them.
The sheer simplicity of the Gnox investment plan gives it a real chance at mass consumer adoption which could easily push the token to 25x returns over the next decade.
The Gnox platform officially launches later this summer. You can learn more about how it all works on the Gnox.io website. While you’re there be sure to get in on the ICO before it goes public. All unsold tokens will be burned prior to launch assuring a fair launch and drastically increasing the price of the token right as it goes publi.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
Website: https://gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://twitter.com/gnox_io
Instagram: https://www.instagram.com/gnox.io/
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 Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
Catherine
Beincrypto
Bitcoinist