If you’re at the stage in your crypto investing adventure that you’re asking questions like, “what the heck is a PancakeSwap,” then this article is especially for you. If you’re already DeFi savvy, this article has one lesser-known DeFi platform that you might want to dig into because it will appeal to your less savvy family and friends who want to get into long-term crypto investing.
Let’s take a closer look at the PancakeSwap (CAKE), QuickSwap (QUICK), and Gnox (GNOX) DeFi platforms.
QuickSwap (QUICK) – Like Uniswap only cheaper
QuickSwap is an automated market maker application running on the Polygon Network. While all transactions are backed up by the Ethereum network, Polygon offers faster, cheaper transactions. As on most DeFi platforms these days, QUICK can be staked for passive income.
QuickSwap is actually a fork of the legendary Uniswap DEX and offers the same liquidity pool model and lower fees. It offers similar functions and user interfaces. The platform offers 125 different crypto assets and more than 600 trading pairs.
QuickSwap is quickly gaining traction and will be giving Uniswap and other decentralized exchanges a good run for their money, so to speak.
PancakeSwap (CAKE) — A DEX for pros
PancakeSwap is another DEX that offers yield farming opportunities. However, PancakeSwap is a bit more complex and offers a richer pallet of opportunities. Although it’s definitely not a great place for beginners to get started, it’s super popular among professional yield farmers.
A lot of these folks have been abandoning centralized exchanges like rats from a sinking ship lately for fear of having their funds frozen. That, combined with crypto regulations coming down the pike is making PancakeSwap a favorite destination for those seeking a truly decentralized and pseudonymous DeFi platform.
Gnox (GNOX) — Yield farming as a service
While platforms such as PancakeSwap and QuickSwap offer some sweet yield farming opportunities, there’s one catch. You have to do all of the research and all of the work yourself. While this might be fine for experienced pros, it’s not advisable for newbie crypto investors.
Gnox offers the ideal DeFi platform for crypto investors who have a long-term horizon. Simply buy and hold GNOX tokens and the rest is done for you. You’ll gain exposure to a diversified portfolio of cryptocurrencies and passive-income producing opportunities from across several platforms and blockchains such as liquidity pools, peer-to-peer lending platforms, and staking opportunities. It’s called “yield farming as a service.”
Gnox has some great features such as an eternally deflationary supply, hourly airdrops of passive income, plus some nice incentives to get in early via the presale.
The Gnox platform officially launches in mid-August. However, you can get in on the presale of the GNOX token by visiting the Gnox.io website. The nice thing is that all unsold tokens will be burned prior to going onto exchanges. This assures a fair launch, kicks up the price, and kicks off the ever-decreasing supply.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register