Three Cryptocurrencies Swapping Out the Old With the New: Spookyswap (BOO), Gnox Token (GNOX), and PancakeSwap (CAKE)


Crypto is a fast-paced environment and the great stars of yesterday are often forgotten by the next morning. It is an environment where everything moves rapidly and investors are forced to stay up to date or fall behind. In this article, three new rising stars will be explored, and it will be the responsibility of tomorrow to judge whether they shall be remembered or not. 

SpookySwap (BOO)

SpookySwap was the first and is currently the largest decentralised exchange (DEX) on the Fantom Opera network. BOO is the native token to the SpookySwap protocol and along with being a governance token can also be locked in exchange for receiving trading fees from the platform. BOO currently trades at $3.85 down from its All-Time High of just shy of $40. The price action of BOO is correlated to the popularity of SpookySwap and the current price of Fantom (FTM) the native token of the Fantom Opera network. SpookySwap features plenty of yield opportunities and is often the first place DeFi curious investors on the Fantom chain find themselves.

Gnox (GNOX)

Gnox is a protocol scheduled to launch on the Binance Smart Chain (BSC) in Q2 of 2022. It marks the first of a new type of reflection token that seeks to simplify the process of DeFi investment for all investors. By becoming token holders of GNOX, investors gain exposure to DeFi earning protocols such as yield farming, with the rewards being reflected in stablecoin every 30 days. The Gnox protocol makes this possible through its treasury which is funded through its tokenomics of buy and sell taxes. A portion of every trade of the Gnox token will go directly to the treasury fund which is then employed in DeFi yield strategies on behalf of the investors. Because the principal of the treasury is never touched, logically over time it will grow, and thus the stable reflections will increase over time. Gnox is currently accepting pre-sale purchases across multiple chains. And the project’s early adopters seem excited to see how effectively the treasury will function.

PancakeSwap (CAKE)

PancakeSwap is the largest decentralised exchange (DEX) on the Binance Smart Chain (BSC) and hosts lots of liquidity pools where DeFi investors can earn yields. CAKE is the native token of the DEX and is used to pay out rewards to liquidity providers on the protocol, this token can also be single staked on the DEX to entitle the investor to transaction fees from the DEX. PancakeSwap has a Total Value Locked (TVL) of $5 billion and is a popular protocol for other DeFi protocols to utilise for generating revenue through its cake pools. The growth of PancakeSwap was due to the high cost of Ethereum DEXs and the large range of tokens it offers not available on centralised exchanges (CEXs) such as Binance. As investors become more crypto curious so do their desires to own tokens which are smaller and less well known. 

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