GENS is the utility and governance token of the Genius Yield DeFi Platform and powers the Genius Yield ecosystem. Genius Yield is an All-In-One Defi Platform that includes a DEX, Staking Vaults, and will introduce a Yield Aggregator in the future. This article will delve into GENS tokenomics, staking, utility, and more.
GENS Tokenomics & Distribution
GENS has a total supply of 100,000,000 tokens of which 36.32 Million tokens are currently in circulation, equivalent to 36.3% of the tokens supply. At 0.709 per GENS, this gives the token a market cap of $17,066,341 and a fully diluted market cap of $47,751,329, placing it at spot #19 in the Top 50 on TapTools. GENS currently has 17,350 holders, a median holder balance of 41.05 GENS equivalent to 25.41 ADA, and an average holder age of 315.27 days.
The tokenomics of GENS are illustrated above. Together, the Seed Round, Public Sale, and ISPO constitute 38% of the total token supply. Additionally, 18% of the supply is designated for the team, 12% for token liquidity, and the remaining allocation is distributed among marketing & partnerships, token liquidity, an ecosystem development fund, a rewards program, and the Genius Yield DAO treasury.
GENS has 466.34K ADA in liquidity across four Decentralized Exchanges on the Cardano blockchain. The most liquid DEX for this token is VyFinance which holds 49.53% of the total liquidity, followed by Minswap with 39.93%, and WingRiders with 10.40%.
GENS has a lifetime trading volume of 57.82 Million with a total of 51,219 trades. This volume is equivalent to 66.35 Million GENS. The token has 28.85 Million ADA in buy volume and 28.97 Million ADA in sell volume.
Currently, 2,332 wallets are staking a total of 10.80 Million GENS, equivalent to 29.74% of the circulating supply of the token. The number of GENS tokens staked has increased 70.98% over the last six months, while the number of wallets staking has increased 4.24% in the same time frame.
The top 5 wallets staking GENS have a total of 1,469,084 tokens staked, equivalent to 13.60% of staked GENS. These wallets have been staking for an average of 8.8 months.
We’ll now examine the various utility that GENS has to offer.
GENS holders can engage in governance and directly influence the protocol’s future. The Decentralized DAO is responsible for important decisions, including voting on parameter changes and the introduction of new features, yield farms, and more, ensuring a community-driven approach to protocol development.
The Fee Sharing Program for GENS token allocates 20% of total revenue to those staking GENS tokens, providing them with a share of the platform’s earnings.
GENS holders can stake their tokens to earn yield, which is paid out in GENS tokens. The current options are locked staking which is available in 6, 9, or 12 month increments. After the DEX goes live, Genius Yield will introduce flex staking which will allow holders to unlock their tokens at any time.
In summary, GENS on Cardano offers diverse utility through governance features and an innovative revenue-sharing model, enabling holders to share in the platform’s financial success. With the upcoming launch of the Genius Yield DEX, GENS’ evolving role within the Cardano ecosystem presents an intriguing narrative for future observation.
You can find out more about GENS and Genius Yield at the following link: https://www.geniusyield.co/
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