The Gnosis team is giving away 1000 GNO tokens to stablecoin liquidity providers !

By poopster | How-to-get-the-most-out-of-your-crypto | 17 Jun 2020

You heard it right guys - the Gnosis team is giving away another 1000 GNO tokens to everyone who provides liquidity on the Gnosis Protocol DEX. The current price of GNO at the time of writing is around $29 meaning the team is giving away over $29,000 in incentives just for providing liquidity. For those of you unfamiliar with the Gnosis Protocol DEX it is an amazing Defi tool that allows users to aggregate stablecoins through mass swaps. It does this through smart contracts and utilizes up to 7 different stablecoins : USDT, TUSD, USDC, PAX, GUSD, DAI, and sUSD. I will attempt to describe it in laymens terms since i myself am a laymen :

Say the price of DAI is $1.005 and the price of USDC is $.995. The smart contract effectively swaps all your DAI for USDC and in this way you build your balance. The smart contract does these massive swaps in batches which are performed every 5 minutes.

It is a brilliant and very simple way to increase earn passive income on any stablecoins you hold. To date i have earned over 26% yield on my investment/deposit.

This is the second incentive program that the Gnosis team has offered, the first one ran from May 22 through June 19 when they will distribute the first 1000 GNO tokens. The program saw such great success that they decided to continue doing it for round two. Anyone can view the leader board of the first round to see how the participants fared and what their investments were here : Dune analytics. For my part, i had an investment of around $3800 and looks like i will receive almost 4 GNO tokens (i am in 21st place).

Once again, anyone can enter and receive a piece of the pie and i highly encourage you all to do your own research on this incredible Defi project and share your thoughts. On top of the free tokens, the 26% interest i am earning is unbeatable. Compare it to the 6% to 8 % that most other platforms offer for stablecoins and it is a no-brainer for me. If anyone has ANY questions about any of this i am going to leave a list of links where you guys can find more information about Gnosis, the contest, and the platform. They also have a Discord server that i have utilized quite a bit when i have any questions and the Gnosis team has been awesome about helping me out - huge shout out to them for the support, I appreciate you guys especially Chris and Martin.

One very important factor is choosing the right spread % for your swaps. I have experimented with this several times placing multiple orders and feel like i have a pretty good system in place. PLEASE be sure to choose wisely when you pick your spread % as gas fees are insanely high right now and submitting new orders can prove costly. Anyone who wants to know more about choosing a good spread % please feel free to leave a comment or contact me via discord. Thank you for reading guys and best of luck to anyone who decides to enter !

Helpful links :

One last thing :

If anyone needs help or if you have any questions, I can always be reached via my discord server : https://discord.gg/KhpN53N

My name there is poopster and we also have free investing and crypto channels for anyone who wants to join. We currently have over 700 members and would love to have you all.

Also, if you are not a member of publish0x i will include my ambassador link here. i appreciate anyone who uses it :

https://www.publish0x.com/?a=4QbYD70azq

Resources

Ethereum (ETH) DeFi Free Crypto CryptoGiveaway Gnosis (GNO)

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poopster

Defi enthusiast

How-to-get-the-most-out-of-your-crypto

As a crypto investor with limited resources i have recently learned several ways to maximize my crypto portfolio in some creative ways. I had to think outside the box and use every resource at my disposal. I have found that the greatest resource is my network. The more eyes/minds you have on any given subject, the more thoughts and ideas you get on that subject. With that in mind, let me share my experience with you.