$13 Million Total Value Locked Within 5 Days
GYM NETWORK’s initial product, the GYMNET Vault, reached a total value locked (TVL) of
$13 million within the first 5 days after the launch. This outstanding result clearly reflects the high demand that has already built up during the pre-launch phase with a wide range of marketing activities that attracted many new users to GYM NETWORK and its innovative concept.
People love the concept of GYM NETWORK because, for the first time, they now have the opportunity to earn affiliate commissions via profit sharing, simply for introducing others to their favourite DeFi platform. And the simplicity of the system makes it even easier for the average user to adapt to the DeFi space, which has been the initial motivation and the idea behind GM NETWORK.
“GYM Network is not about reinventing the wheel but creating something new and innovative based on existing, proven systems,” says Alberto Mera, the system designer of GYM Network. “The biggest innovation comes from adding rewards to the user for participating in the protocol and implementing an affiliate system so that you can receive affiliate commissions for referring other users.”
Gym Network’s Initial Product: The Vault
GYM NETWORK has ambitious goals laid out in a long term roadmap, that reaches ahead into 2024, with the vision to become a metaverse that’s combining an ecosystem of diverse DeFi earning opportunities, allowing its users to access them via a single virtual world. The first available product within this metaverse ecosystem is the GYMNET Vault which allows users to deposit their favourite crypto currency (it starts with BNB) and earn an interest rate on them. As they do this through the GYM NETWORK platform, they will also earn rewards in the form of the GYMNET Token.
What the GYMNET Vault does is, it connects to other established DeFi platforms, such as Alpaca Finance, and puts a layer on it that allows the user to not only earn the interest rate offered by these other platforms but also the GYMNET rewards. Next to that they now have the opportunity to invite other users via their affiliate link provided by GYM NETWORK and earn commissions as a profit share from the interest rates and rewards of their referred partners. The deposit amount remains untouched and is fully available to be withdrawn anytime.
“What I really like about GYM Network is the fact that I can earn high rewards at low risk and always access my funds whenever I want to,” says a GYM Network investor.
More Launch Stats About Gym Network
Next to the vast increase of the GYMNET Vault in such a short time, there are even more impressive facts that highlight the huge success of the project while it’s still at its very beginning:
- The market capitalization went from $60 million to $87 million upon launch.
- The PancakeSwap liquidity pool went straight up to $5 million.
- The GYMNET token price went up by 50% within the first 3 days of trading activity.
About Gym Network
GYM NETWORK is a fully decentralized protocol operating on the Binance Smart Chain. It combines optimal yields with high rewards for its users. Thus, investors get easy access and save a lot of precious time using the DeFi project. Next to that users can also earn commissions by referring new members into GYM NETWORK. The smart contracts are audited by Certik, a top contract auditing provider, which has audited leading cryptocurrency exchanges such as Binance and OKEx.