Genius X Announces the GENSX Utility Token and a Tiered Staking Program
Genius X, a platform where ambitious startups building on Cardano receive essential support in business development activities to achieve speed, scalability, and edge, is pleased to announce GENSX and a tiered staking program.
Genius X, a platform where ambitious startups building on Cardano receive essential support in business development activities to achieve speed, scalability, and edge, is pleased to announce GENSX and a tiered staking program.
GENSX is a utility token with a maximum supply of 1 billion.
The GENSX token can be staked in the Genius X Staking center for extra rewards and to receive various platform benefits.
Staking rewards will be collected from:
- Redistribution of the 20 percent of Genius X Launchpad fees, or an equivalent of one percent of the total raised if the applicable fee is between five and seven percent. Fees received in ADA will be converted to GENSX in the open market and issued to stakers from the Genius X DAO Treasury.
- Redistribution of one percent of each Genius X Accelerator Program clients’ total token supply. Rewards will be in the clients’ native token and distributed from the Genius X DAO Treasury.
GENSX stakers receive the following benefits:
- Governance and voting rights in all Genius X Improvement Proposals (GIPs)
- Diverse tokens. Staking rewards will be in GENSX and clients’ native tokens.
- Early access to Genius X utility NFTs collection
- Participation in the Genius X Launchpad sales starting Q4 2022
- Access to the Genius X Grant Program from Q1 2023 through which stakers will also be free to submit a project, vote, get rewards, and vote for projects to receive available grants.
The more GENSX staked, the more rewards received.
Details of the GENSX Tiered system will be announced at a later date.
About Genius X
Genius X is an accelerator program launched by the world class team behind Genius Yield. Our goal is to foster innovations on Cardano by providing early-stage blockchain startups with all the tools they need to become successful.
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