Let us start by thanking everyone for their support during our IDO! Even in a bear market, you came out to show your support, and it’s greatly appreciated.
To give back to our community, we have restructured the staking program to allow people on Arbitrum to stake as well, although the program will be slightly different at launch.
For those familiar with the previous staking system, those elements will remain the same. Stakers will still have access to:
- Percentage of the transaction fees on the launchpad.
- A share of the tokens earned by the accelerator program.
- ISPO NFT Utility (weighed booster from accelerator token rewards — only Cardano $GENSX Stakes)
While we do predict these rewards will be substantial in the future, we are aware that during the bear market, this will need some adjustments in the meantime. Consequently, GENSX stakers will now earn $GENSX as well! We are also adding a new utility to Genius X ISPO NFTs — they will give a bonus APY to stakers! More information below.
Launchpad fees and accelerator tokens will be awarded at a later date. It’s also important to note that the staking platform will not support the staking of vesting ISPO rewards or tokens purchased in the IDO that are vesting. This decision wasn’t made lightly and was only done after careful consideration. We feel it’s important to focus our development work on the completion of the Genius Yield Platform.
Staking Program Details
On Cardano, users will be able to stake their GENSX by going to the staking dApp, which can be found here .
On Arbitrum, it can be found on our launchpad page, here!
For both Cardano and Arbitrum, users will have the option to enter a locked staking vault for either 6, 9, or 12 months.
- 6-month staking vaults earn 5% APY, rewarded in $GENSX.
- 9-month staking vaults earn 7% APY, rewarded in $GENSX.
- 12-month staking vaults earn 11% APY, rewarded in $GENSX.
Please keep in mind that once you create a staking vault, they cannot be changed. You cannot add more GENSX in the future to that vault, but you can create a new vault.
Staking on Cardano and ISPO NFTs
Staking on Cardano will be different. Originally, ISPO NFTs gave bonuses in tokens awarded from the accelerator program. Now, they also will give a bonus APY to those who stake with a Genius X ISPO NFT!
Genius X ISPO and Galaxy NFTs give the following bonuses:
- Vesta +3
- Comet +6
- Titan +10
- Galaxy at +10
These are on top of the base amounts:
- 6 months, 5% APY
- 9 months, 7% APY
- 12 months, 11% APY
For example, if a user creates a 12-month vault using a Galaxy and Titan NFTs, they would have +31% APY!
Locked staking options will be available for at least 2 months. After the Genius Yield DEX is launched, we will consider flex staking options. Details will be announced in the future.
As always, we would love to hear your feedback.
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