The crypto space is a new Wild West. The digital Gold Rush has attracted people from all walks of life, many of whom don’t really understand the practice of investing. This is made all the more obvious by the fact that two of the fastest-rising cryptocurrencies are what are known as “meme coins.” This means that people are buying them because of their fad power rather than their staying power.
However, there’s another token that’s fast-rising for exactly the opposite reason. While the tokenomics of Dogecoin and Shiba Inu make these assets volatile and risky, a new coin on the scene seems to have figured out a way to greatly reduce risk while incentivizing early adoption and long-term hodling behavior.
Dogecoin (DOGE)
Dogecoin (DOGE) was originally developed as a spoof crypto token. Although it started as a joke, it is now a top-ten cryptocurrency by market cap with almost cult status. DOGE is based on the same technology as Bitcoin and Litecoin. However, Dogecoin developers were able to make the blockchain faster and more affordable to use.
Unlike most cryptocurrencies, Dogecoin has no maximum supply. More than 14 million tokens are created each day. At the time of writing, there is about 131.28 billion DOGE in circulation. An estimated 0.002% of Dogecoin wallets hold two-thirds of the total DOGE in circulation.
A large part of Dogecoin’s success is the attention it gets from Tesla’s Elon Musk. Tesla recently announced that it would accept DOGE for some of the merchandise in its online store.
Shiba Inu (SHIB)
Shiba Inu coin (SHIB) was created anonymously by “Ryoshi” in August 2020. Another dog-themed meme coin, similar to DOGE, SHIB quickly gained in popularity.
When the token was launched, Ryoshi gave 50% of the supply to Ethereum founder Vitalik Buterin. Public awareness and the price of Shiba Inu soared after Buterin burned 90% of his supply (which would have been worth billions of dollars). The remaining 10% were donated to charities.
A major reason for SHIB’s popularity is the project team’s continued effort to build utility into the token. The Shiba Inu ecosystem now includes a decentralized exchange called ShibaSwap, a metaverse presence, a DAO, and much more.
Gnox Token (GNOX)
Gnox is a unique DeFi utility token. The project aims to make DeFi investing simple for both first-time and experienced investors alike. Everyone who buys and holds the GNOX token shares equally in a stream of passive income. Ongoing revenue is produced by investing the funds from a treasury into staking opportunities, liquidity pools, and lending protocols. Gains are then shared amongst GNOX holders on a monthly basis.
The treasury is funded by a 10% “tax” on all transactions. First, 6% goes into the investment pool. Another 1% is redistributed back to hodlers every 60 minutes. The remaining 3% is used for marketing and operations. This 10% tax scheme not only greatly benefits early adopters and long-term holders, but also disincentivizes day traders and swing traders from causing volatility in the GNOX token’s price.
Although the platform doesn’t launch until July 18th, GNOX is currently in ICO mod. Early adopters can learn more about the Gnox plan and purchase the coin on the platform’s website.
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://titter.com/gnox_io
Instagram: https://www.instagram.com/gnox.io/
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