The crypto borrowing and lending platform Nexo recently provided transparency into exactly how its business makes money. Its lengthy breakdown follows the collapse of numerous high-profile crypto lending firms that were overexposed to defunct projects and businesses. Nexo’s Business Model As Nexo explained in a Twitter thread on Monday, Nexo’s primary business strategy is to facilitate collateralized credit. Its core services include crypto collateralized loans, interest-bearing crypto accounts, and spot, futures, and options trading. Through its Earn product (crypto interest…
Traditional financial and investment platforms have been around for a long time, allowing people to accumulate assets and earn capital. Nonetheless, the traditional investments prove a choice for the wealthy, leaving out the unfortunate in the society. Centralization is the main problem with these types of ventures, limiting the potential of people all over.
Cryptocurrencies came to save the day as an investment and cash alternative for people from all lifestyles. Over 5500, cryptocurrencies are running in the global crypto market today. Increased adoption of the coins does not prevent their volatility, which is a significant problem for traders.
As a solution for volatility, stable coins got an introduction, backing fiat currencies, and real-time assets. An example is the US Dollar stable coin, Tether (USDT). Despite the advantages of these coins, they rarely increase in value in time, thus a downside to maximizing capital.
Apollo Fintech’s Gold Secured Currency (GSX) gives everyone a chance to invest without the unpredictability in almost every crypto.
What is GSX?
Gold Secured Currency (GSX) is a stable coin that grants its owners profits for maintaining asset value. GSX is a trust-backed coin that increases in value over time and blends beneficial properties of cryptocurrency, stable coin, and an investment coin. The currency runs on the Apollo Blockchain for maintenance of the currency while ensuring legitimate, decentralized transactions.
Apollo Fintech owns over 3000 acres of land for gold and platinum mining in Zimbabwe. All commissions from the coin transactions facilitate developments in the Apollo infrastructure, their mining lands, and gems. Likewise, the process will enhance the immeasurable value of the coins. The plan assures holders that the coin will never have a lower value than the gold, secured gold, gold ore, land rights, and gold and platinum group mine inclusive of all assets backing GSX.
How it Works
25% of transaction fees associated with Apollo Fintech’s products will go into buying more gold and mining land for constant supply to back GSX. Users will have access to this progress so they can follow the increase in GSX value.
50% of the gold production goes to powering GSX, which ultimately increases its value. The other 50% will pay GSX owners their dividends. Apollo Fintech can purchase GSX directly as long as GSX fulfills certain conditions.
Benefits of GSX
- GSX is a trust-backed coin by gold, mines, and lands. In turn, its value will always surge higher than the assets
- GSX will soon be available on other alternative cryptocurrencies exchanges besides Apollo offering users a choice in their preferences
- GSX chose to utilize a decentralized platform to provide its users with a confidential space to trade with.
- Owning of GSX comes with a variety of rights like owning rights to the precious metal industry, the gold-rich mines, and refineries with mining equipment. Furthermore, any selling of assets by the company provides a share of the income for users
- Every year offers GSX holders dividends from the profits garnered in gold and platinum mining
- Geologists will be responsible for conducting assets auditing procedures from time to time, and the auditing information will be available to the public
- Asset profits steadily increase with time giving investors motivation to own GSX as early as possible
- As long as a person holds GSX, they can redeem it for equivalent gold value. The minimum value set for redeeming is $200,000.
Apollo Fintech Successes
The network supports a variety of functions like predicting market situations, storage and controlling crypto assets, and designing customized blockchain systems. Besides providing a secure environment for users to trade and transact, Apollo Blockchain ensures they maximize their incomes through staking.
Blockchain technology works under strict regulatory abidance that supports fundraising activities and complete compliance with securities laws. The system is equipped with a variety of powerful technologies that assist users in sending tokens reasonably. Apollo blockchain is working towards collaborating with other business platforms as their driver for financial instruments.
Apollo Fintech is zealous in formulating solutions for shortcomings in current government systems to save funds and secure systems. Apollo is the first company to build and sell a functional e-Government platform.
The Apollo National Currency System is a network that facilitates the exchange of a national government’s currency in a decentralized way. It will iron out several issues in the traditional currency systems, including delays, corruption, frauds, security deficiencies, and expensive minting processes.
Apollo Fintech is working on releasing the most expansive social network globally in Q3 2020. Stratus targets security, and censorship-free social platforms stamp out obstacles presented by topical ones. The design will procure a sustainable and easy interface for consumers. By interlacing properties of existing prominent sites into a single network, they utilize every aspect, hence achieving the higher purpose of satisfying users.
As per the CEO of Apollo Fintech Steve McMullah, all sites in the Stratus ecosystem will be available from the main application, which will all be end-to-end encrypted. They have also incorporated a fiat and Apollo wallet for any monetary transactions required.
GSX Distribution Event
Apollo will launch a distribution event of the GSX coin setting aside 10 billion of the total coins to the CDE selling at $0.046. 50% of the coins that will not sell during the event (if any) will be burned and transferred to the genesis account to prevent future spending.
The company will hold another 20 billion coins for one year after the distribution event. However, they can burn part of these coins to add value to the coins and assets in general.
In an ever-growing decentralized economy, leveraging higher profits in investments is crucial. Apollo Fintech has taken the initiative to offer its users a viable option. Gold Secured Currency is their answer to most of the questions concerning the right steps on where to put your money.
As an asset-backed cryptocurrency, GSX combines different features bringing users a wholesome experience. The coin will always augment in a value higher than the assets that back it. Furthermore, users get other benefits from holding GSX, including dividends and ownership rights in the company’s assets.
Frequent auditing ensures transparent regulations within the company. The Apollo blockchain further ensures the security and sustenance of the coin for smooth running. Apollo Fintech has more to offer as we witness other significant partnerships in different sectors.
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects or cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurrencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision. Learn More