Best Cryptos for DeFi Newbies – Gnox (GNOX), SafeMoon (SAFEMOON)

Decentralized Finance (DeFi) is a blockchain-based fast-growing financial industry outshining traditional finance. It targets to revolutionize the world of finance by ensuring safety. DeFi is at its infancy stage, yet to witness regulation. And that might be injurious for investors that haven’t researched.

This article analyzes two projects lucrative for new investors while accumulating impressive returns.

SafeMoon (SAFEMOON)

SAFEMOON joined the crypto space in March last year via the BSC (Binance Smart Chain). The altcoin differs from many in the market as it targets long-term investments. Nevertheless, some of these projects are pump & dumps, where the platform promises investors to invest massive cash waiting for the ‘moon.’ Unfortunately, they lose everything.

Novices can interact with SafeMoon without worries. The altcoin’s market cap stands at $340 million. SAFEMOON employs three ethics to protect investors – Burn, LP Acquisition, and Reflection. The project achieves the principles through the new purchase & sale taxes.

Participants incur a 10% tax on each transaction. The platform distributes 5% of the tax to all hodlers, discouraging token sales. Meanwhile, that ensures price stability (Reflection principle). The other 5% refills the liquidity pool to offer SAFEMOON a stable floor price (LP Acquisition). Also, that prevents massive dips whenever whales decide to offload the tokens later. Lastly, burn involves Safemoon wallet receiving reflections, then removing the assets, thus the name burn. Demand and Supply apply here.

Gnox

Gnox joined the financial industry in 2022 Q2 on BSC (Binance Smart Chain). It’s a first-of-a-kind project tailored with a treasury working for its investors only. Investors can purchase the tokens for presale, available on all chains.

Gnox will alleviate entry barriers within the DeFi world, simplifying DeFi investment processes. Most decentralized finance investors do not access lucrative returns associated with DeFi. Meanwhile, Gnox boasts yield farming services.

How Gnox Achieves That

Gnox project implements buy & sell taxes on each transaction. Moreover, it goes past anything available in the current market, explaining its hype in the cryptocurrency community. The project distributes 1% of each transaction to Gnox holders every 60 min (Reflection). Another 1% goes to PancakeSwap liquidity to build a sturdy floor price (Liquidity).

Meanwhile, the DeFi treasury receives 6% of each transaction. The treasury goes to several DeFi protocols while distributing all proceeds to token holders. Lastly, 2% of each transaction boosts marketing to guarantee stable new investors, translating to price increases.