Gnox DeFi Aggregrator
DeFi has grown at an impressive pace since the summer of 2020 when a huge chunk of the financial sector was in a state of chaos. Investors worldwide ventured into this decentralized industry in hopes of high returns, thanks to the concept of Yield Farming.
As the DeFi space continues to develop, it has spread out to different blockchains, each having an ecosystem of isolated protocols. Returns vary greatly across different platforms, and diversification is the key to maximizing returns. However, it is inconvenient and inefficient to track information spread across multiple protocols. That’s where Gnox DeFi aggregator comes into play.
It represents an interoperability protocol that is designed to connect multiple blockchains in one single interface. This facilitates straightforward network transactions from one chain to another.
Let’s take a closer look at some key offerings of the tool.
Multichain functionality
A majority of DeFi applications exist on Ethereum, where high network fee has always been a barrier for entry-level investors. This is why Gnox is integrating other blockchains to unlock the potential for higher yields with minimum transaction cost. The aggregator currently supports the following chains:
· Velas (VLX)
· Binance Smart Chain (BSC)
· Fantom (FTM)
· Avalanche (AVAX)
· Near Protocol (NEAR)
· Cronos (CRO)
· Ethereum (ETH)
Multichain expansion will continue with further developments in the project. This will provide more scalability, usability, and functionality without compromising speed and cost.
Best interest rates
Gnox DeFi aggregator automatically siphons the very best rates from various liquidity pools, lending services, and other yield farming opportunities. Users don’t have to compare the prices on different platforms to get the best deals. All the information will be available in one place, making it convenient for any investor to make an informed trading decision.
Advanced portfolio tracking
Gnox uses custom-built aggregation architecture to display user portfolios across multiple chains. This enables investors to manage their DeFi assets, monitor investments, execute trades, and track returns among all pooled assets across different protocols. It eliminates the need for understanding the technical complexities of blockchain, which can be intimidating for new users.
Risk Indicator
All DeFi investments carry some degree of risk, which is hard to quantify even for risk-tolerant investors. Gnox aggregator displays a risk score for various protocols, forecasted by DeFi experts on the basis of user behavior, volatility, collateral liquidity, smart contract, and protocol parameters. The risk indicator will display a safety score in terms of probability, including:
· 100% — Very safe with negligible chances of loss to investors
· 50% — Medium risk with a chance to lose capital in volatile market conditions
· 25% — High risk with a substantial chance of depositor loss
Treasury asset allocation
Besides providing yield farmers with a tool to manage their DeFi portfolio, Gnox also maintains transparency about treasury assets. A portion of rewards generated from investing these funds in various DeFi protocols is redistributed to GNOX token holders. With the help of this aggregator, users can keep an eye on the current treasury balance and asset allocation in various liquidity pools and lending protocols.
Intuitive user interface
Gnox DeFi aggregator provides all the above features by putting UX/UI at the core of its functionality. It offers an unparalleled user experience by demystifying the complexity involved in using dApps. As a result, it helps new users to navigate the world of DeFi even with limited knowledge of the underlying mechanism.
In a bid to drive greater adoption within the space, Gnox combines the efficiency of centralized strategies with decentralized protocols to develop a tool for better yield optimization and efficiency.
