My Gym Network experiences
I’ve spent a lot of time with Gym Network and the team behind it over the past few weeks. Countless hours went into research, online webinars and AMA’s (Ask me anything) with the team. And I have to say that I am enthusiastic about their vigor and drive, their know-how and transparency!
76 developers are currently employed in the investment project, and more will be involved. There are also marketers, front-end designers and much more.
What is Gym Network - is it worth investing in?
GymNetwork is a completely decentralized investment project, which will be based in Dubai. Gym Network promises 200%+ APY (i.e. annual return including compound interest) on your staked BNB (Binance Coin).
So you need BNB on a decentralized wallet, e.g. B. Metamask, TrustWallet or Ledger and then send them via gymnetwork.io to Alpaka Finance in the BNB Vault Pool. You will then receive daily rewards on your coins that are with Alpaka (NOT with GymNetwork!). NO, you don’t actually get your return not only daily, but in real time, i.e. every second. I can watch my rewards grow, some in BNB or WBNB (wrapped BNB) and some in the in-house gym token.
In the following video I presented the Gym Network Investment project in more detail:
What is Gym Network Scam or legit/reputable?
In my opinion, Gym Network is not a scam. The entire team behind GymNetwork is very transparent, has a digital footprint, shows up in regular zoom calls and is available to answer any question.
In addition, the project runs decentrally and via smart contracts and is therefore not that easy to manipulate. CertiK has verified that the gym is programmed as they state. The most renowned audit company in the crypto sector and can also be read. The CertiK certificate also confirms the security and that there are no major security gaps in the programming.
Gym Network is decentralized and therefore does not require KYC. In addition, the invested funds are not with Gym at all, but with Alpaka Finance. One of the largest decentralized crypto exchanges ever. So that from my point of view the chance of a scam at Gym or the total loss of the investment is very low.
What risks do I see for the investment?
There are roughly 3 risk components: Binance, the value of the BNB and Alpaka Finance.
But how likely is it that the largest exchanges will go bankrupt or disappear in the short term? In my opinion very low.
However, the value of the BNB can decrease and thus the value of our investment. Personally, however, I think it is more likely that the BNB will rise.
An additional risk is the value of the Gym Token. However, this is not a risk for our seed capital, it only determines the amount of our return.
The Gym Token has also gained 7000% + in value in the last half year.
My Gym Network experience and opinion
I think GymNetwork has tremendous potential! And therefore I invested more than 40 BNB (approx. 70,000 USD) directly at the start.
How can I start at Gym Network?
1. If you don’t have a decentralized wallet yet, create one. I use the metamask myself.
2. Put any number of BNB in your metamask. The minimum investment is 0.05 BNB, currently around 18 euros.
3. Go to GymNetwork via my link: https://www.gymnetwork.io/?r=obgoy
and click on the light blue button in the top right corner and connect your metamask to Gym Network.
4. Make your Invest / Move BNBs to Vault
5. Sit back and enjoy watching your rewards roll in 🙂
Step by step guide
Need help setting up a MetaMask?
How do you make your investment at GymNetwork?
What to do and press on the Gym Network dashboard
Don’t worry, it’s not difficult at all. You can find step-by-step instructions on a separate page. If you have any questions after that, I’m happy to help.