The post Gnox (GNOX) Soars 52% Following KYC Certification By Soken DeFi, Binance Offers A Lifeline To Terra (LUNA) Ecosystem Projects appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Gnox’s presale price increases by 52% after passing a thorough background check and receiving a Soken KYC badge on May 21, 2022.
The current price of its native token, $GNOX, is 0.0152, up by 52% from the initial presale price of 0.01.
The project team says they are pleased to have passed Soken’s rigorous KYC procedure and “will continue to prioritize the safety” of its investors at all times and in everything they do.
“It is an honor to have you here today, and we look forward to making DeFi available to everyone,” they added.
“Working with Soken is always a pleasure because they understand complex concepts quickly and deliver excellent outcomes. Gnox values Soken’s knowledge, time and work put into granting us a KYC badge,” said Gnox’s spokesperson.
Soken, a DeFi and Web3 security company, takes its business model very seriously when presenting potential clients with compliance solutions. They utilize a number of strategies to assure the legitimacy and credibility of those who possess their certification.
“To prevent malicious players from prepping to cheat the system, Soken employs a rotating set of compliance criteria that are not publicly disclosed. For these reasons, we are determined that Soken was the best fit for our project,” said Gnox’s spokesperson.
Gnox is the first to provide yield farming as a service. The idea has been designed to reward long-term investors by implementing buy and sale taxes, which are used to fund the treasury.
This treasury is then used to benefit token holders, allowing them to take advantage of the best yield opportunities in the DeFi sector.
Binance provides support to Terra (LUNA) ecosystem projects
Meanwhile, Binance’s BNB Chain is supporting Terra ecosystem projects seeking to transition away from the troubled DeFi protocol.
In the wake of the biggest black swan event to impact the cryptocurrency market in recent years, BNB Chain has pledged to give investment and help to projects considering migrating from the Terra ecosystem.
Stader Labs will be among the first Terra ecosystem projects to connect to the BNB Chain. The company develops liquid staking solutions for four blockchains: Solana, Near, Fantom, and Hedera, and is scheduled to offer BNB liquid staking through a recently announced agreement.
Gwendolyn Regina, investment director at BNB Chain, spoke to Cointelegraph about the decision to support struggling enterprises in the Terra ecosystem.
“The Terra ecosystem has a lot of talented creators and developers, and our support is aimed at helping those builders and teams, building new projects on the BNB Chain. Hence, we are simply interested in supporting developers and projects so that they do not miss out on future potential.”
Binance is not the only cryptocurrency company assisting troubled enterprises in the Terra ecosystem. Telos also stated this week that it will seek to accelerate the migration of decentralized applications, or DApps, that were previously functioning in the Terra ecosystem by providing financing, marketing support, and technical aid.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register