How does the Genesis Vision platform work?
Genesis Vision is a decentralized trust management platform built upon blockchain technology and smart contracts. Each manager in the Genesis Vision network has their own cryptocurrency. The process of transferring funds to the manager is carried out by buying a manager’s cryptocurrency on the internal exchange. From a manager’s point of view, the trade process will not change. The trader will continue to operate on the exchange or through a convenient broker. Genesis Vision, in turn, represents a common open source of reliable information about the statistics of the network participants’ activities and an absolutely transparent system of investment and profit distribution built on smart contracts. Each investor has access to managers from all over the world. Information is available on their trading and profit statistics, which is now accessible in one place. For further information please refer to the whitepaper.
What is the significance of the Genesis Vision Token?
The Genesis Vision Token (GVT) is the main GAS used within the Genesis Vision platform. Investors will be using GVT when investing in a certain manager (when buying the manager coins within the platform exchange) and the manager profits will also be distributed in GVT.
Genesis Vision explained in layman’s terms (ELI5)
The GVT token will be the main token used for investing and distributing profits within the platform. For example, if you as an investor want to invest $1000 you will have to buy $1000 worth of GVT. For the sake of the example, if the GVT token is worth $100 you would have to buy 10 Genesis Vision tokens and then exchange those on the platform for the Manager’s tokens. After the Manager’s investment time-frame let’s say that the Manager turns your $1000 investment to $1500 well then you will get that money back in GVT at that current market price. Continuing the example, if GVT would now be worth $120, the investor would get back 12.5 GVT equivalent to the $1000 he initially invested plus the $500 that the Manager made in profit for him.
Who are the team members and advisors and are they experienced and capable of building this project?
The full list of the team members and advisors can be found here. As you can see the team is very experienced and fully competent in building this product. The team has quite the roster of reputable advisors with names such as Charlie Shrem, Konstantin Gladych, and Demetrios Zamboglou to name a few.
How is Genesis Vision different when compared to other fund management tokens?
Genesis Vision is not strictly limited to the crypto world and also unites traditional market participants with the crypto space (Forex, classical assets like gold & silver, etc) so it’s disruptive potential is much larger. Still, the financial industry is very large. There are hundreds of existing companies in it and new ones are constantly appearing. You will witness many more ICOs that will somehow be associated with funds management.
Are there any competitors to Genesis Vision and if so, who are they?
Is there an official communication channel for the Genesis Vision community?
At the time of this writing the official communication channel is Telegram. We invite you to join us if you have not already.
Where can I find the Genesis Vision roadmap?
The current roadmap can be found here. As you can see from the roadmap we are aiming for Alpha release of our platform April 1st. This release includes the blockchain platform, client application and integration with MetaTrader.
Where can I keep track of the development of this project?
The Genesis Vision platform will be open-source. All of the development and updates are committed to the Github.
What is Metatrader and why is it important?
MetaTrader is an electronic trading platform that is widely used by online retail foreign exchange speculative traders and is heavily used in Forex trading. The MetaTrader integration in the Genesis Vision platform will assist in bridging the gap between the Forex and the Crypto worlds.
Where can I buy GVT tokens?
Currently, GVT tokens can be bought on Binance, KuCoin, HitBTC, and EtherDelta.
How can I safely store my GVT off of the exchanges?
Was GVT issued via a legitimate ICO?
Genesis Vision ran one of the most certified ICOs to date. See the full detailed report here.
Is the GVT token recognized as a security?
The GVT token successfully passed the Howey Test (thus confirming it is not a security). Proof can be found here.
What is the target market for Genesis Vision?
Genesis Vision is targeting the $70+ Trillion Dollar Assets Under Management market (projected to reach $100 Trillion Dollars by 2020). Capturing even a small percentage of this market would directly correlate to the growth of the GVT token since the GVT token is used as the GAS within the platform.
How can I keep up-to-date with scheduled GVT events?
Coinmarketcal is a great way to stay up-to-date with upcoming events.
When will we be able to actually start trading within the Genesis Vision platform?
The Alpha version of the platform will come with real trading. The anticipated release date is April 1st, 2018.
Why issue a new GVT coin instead of relying on Ethereum?
Well first, since we have many target markets and all of them trade different assets and have different account currencies we opted to create a “universal” currency inside the platform which is untied from other fiat and crypto currencies. For reasons of simplicity and to avoid confusion.
Secondly, as mentioned in the GVT Whitepaper, GVT was created to be blockchain agnostic and while initial development is done on the Ethereum blockchain, the underlying blockchain can be changed if the developers see fit (i.e… slow ethereum transactions).
Is the GVT price anticipated to rise in value?
Well, as with anything that has a finite supply the scarcity and increase in price is based upon simple supply and demand mathematics. Since the Genesis Vision Token is the main GAS used within the platform (both for investing in managers and taking out profit) and due to the fact that the platform is targeting a huge market the demand for the token will grow (due to new investors, managers & brokers).
Will the GVT token price be equal to the investments done on the platform?
Not exactly. Increase in management volumes increases the value which is represented by circulating GVT. However, it is not a 1:1 relation since invested GVTs are not necessarily “locked” in the manager’s account but can be returned back to circulation. That is why GVT capitalization can be higher or lower than the amount of funds in management in each particular moment.
Is Genesis Vision limited to only crypto?
No, the platform will first target the Crypto and Forex markets where the company has the most experience and further along the roadmap they will also support Stocks, Futures, etc
Is this “X” project/ICO a GVT competitor?
Although often debated, many projects which at first glance seem to be GVT competitors are actually not targeting the same markets at all. While companies will not be named, many “competitors” are just focusing on the Crypto market and thus competing effectively among themselves while the Genesis Vision has a much larger reach outside of the Crypto world being that they are going into FX, Stocks, Futures AND Crypto all together.
Why would a fund manager switch to using the GVT platform?
Managers will be able to continue to trade as they are and through use of the Genesis Vision network they will get access to investors all over the world, which is not available now because they currently limited to work only within the ecosystem of their single broker.
To give an example: We have MoneyManager1(MM1) who trades at Broker1(B1). In most cases MM1 could offer his trust management skills only to B1 clients because he is fully linked to B1's ecosystem. So if he wants to also offer his services to clients from a second broker he needs to open another trading account in B2's ecosystem and manage them completely separately.
Genesis Vision will link all of them into one system so this MM1 will be able to offer his services among clients of all brokers at the same time.
Are copy-trading platforms competitors of Genesis Vision?
The main issue of the copy-trading system is the lack of speed. Just imagine that there is some good trader. He made a trade, then the system copies his actions and executes it on your trading account. All of this takes time, sometimes only milliseconds, but still the price can go away and the copy-trader will have a different result. And even if the trader earned profit the copy trader could still lose due to another price/lack of volume.
In the Genesis Vision system, when we speak about money management, the trader is the one running all of the trades himself and there are no delays.
How will Genesis Vision attract platform participants?
Genesis Vision already has quite the advantage being that the Chief Business Development Officer of GVT is Alexey Kutsenko. Mr. Kutsenko is the CEO of the well known Tools4Brokers platform. Because of this Genesis Vision can tap in to existing brokers of T4B which will consequently bring participants to the platform (the existing managers & investors in those managers).
Also, there will be marketing covering two sides: B2B to attract brokers/exchanges/big money managers and B2C to attract investors and common traders.
As per the roadmap, the partner’s brokers are already in discussions while external brokers will be targeted after the 1.0 release of the platform.
Will GVT token volatility hurt the Genesis Vision platform?
From the investor’s point of view investments will be made in USD (with internal exchange to GVT of course) and profit distribution will be in USD (again with internal exchange to GVT) and thus the GVT Dollar Value risk will be on the broker’s side not at the investor’s side — the investor will profit directly from the manager’s performance.
The brokers deal all the time with such kind of currency risks because they have deposits in different currencies and they need to control the rates (normal practice in the FX world).
Is AI trading a danger to the Genesis Vision platform?
Since Genesis Vision itself is not a platform for trading but a platform responsible for investments handling and profit distribution it does not matter how an individual manager trades. Thus, the money can be invested by the manager via manual action, automated scripts, crowd based opinions or even AI, depending on the options allowed by the different trading platform linked with Genesis Vision. In summary, it may actually be wise for a manager to consider use of AI.
How will users buy GVT tokens in order to invest through the platform?
GVT tokens will be able to be bought on exchanges and investors will be able to acquire GVT directly on the Genesis Vision platform.
The Genesis Vision platform will have direct integrations with BTC, ETH (including ERC-20 tokens) and Cardano. The investors will then have the opportunity to receive these coins into the platform similar to as they do on exchanges (deposit and withdrawal of different coins).
Will there be any protections in place in-case a manager performs poorly?
The investor will be sharing the money managers profits and his losses as well. Thus, it is important to choose managers carefully based upon their past trading results as well as the type of markets they are trading on (eg. Forex vs Crypto).
Also, the platform will have built-in protection in the sense that the manager will not be able to attract more than a certain amount of $ funds based on his overall trading history (thus stopping many people from FOMOing into certain money managers with little trading history).
Still, the investor will be able to have some control on the amount of risk that the manager is taking with their funds — eg. max loss, etc (further details to be released by the team).
Can managers disappear with my money once I have invested with them?
No. Manager’s trading accounts are blocked from withdrawing and depositing funds.
How will investors know which managers to pick at platform launch?
Genesis Vision will first be targeting existing brokers which will then upload their manager’s trading history on the blockchain and therefore investors will be able to see old trading history and make informed choices.
For the managers that will be joining for the first time on the platform (without any provable prior trading history) the Genesis Vision platform will require them to first trade with their own funds until a sufficient trading history is created — once that is established investors will be able to place money into these new managers.
Will the managers publish their real-time strategies on the blockchain?
This will not be done for the following two reasons:
First, blockchain technical limitations. Processing of such a large number of transactions will create considerable load on the blockchain platform.
Secondly, not all managers will agree to publish all their transactions in real time out of concern for their trading strategies protection.
To address the blockchain speed issue Genesis Vision will be using IPFS where they will store all transactions of the manager and hashes of the respective trades will then be pushed to the blockchain (thus ensuring speed & the fact that trading history can not be later altered).
For the second issue, trust management systems usually offer an option to hide trading history during the reporting period. At the beginning of the reporting period the broker’s trading platform plug-in generates a crypto key for the manager which will be used to encrypt all the manager’s trades into IPFS. At the end of reporting period a key for decryption is published and the entire trading history becomes public and available for validation by hashes.
What is White Labeling? Will Genesis Vision support it?
In the FX industry, White Label brokers are a type of brokers which do not have their own trading platform but instead use labeled solutions from technical providers or other brokers. They are like a SaaS brokerage service. Genesis Vision will have partnerships with White Label providers and will connect the provider’s trading platform to the GVT ecosystem so that all brokers of that White Label provider will be automatically linked to GVT ecosystem.
How will FX regulations influence the development of Genesis Vision?
The first phases of the GVT platform will be in the FX markets which are less regulated than other financial industries. It means that they will be able to connect GVT platform with huge amount of brokers from different parts of the world (where regulation is less than for example in USA) easily. These will be the pilot steps for the platform and even this will give huge opportunity for total turn-over. When we speak about countries with restrictions like USA or China, just try to look at it in this way: Genesis Vision is a network to connect investors/money managers between each other like UBER connects drivers and passengers. Some governments try use current taxi licensing and laws to UBER but UBER is not a service for a TAXI itself.
The same thing with Genesis Vision — you’re an investor and you found a good money manager in the platform so Genesis Vision and blockchain will help you to organize your process of investing/profit distribution but Genesis Vision itself is not a company which accept investments or handle your funds so the strict regulations do not hinder the development of the Genesis Vision platform.
Why would anyone invest through managers when they can just hold the Genesis Vision token and make profits?
There are multiple reasons why an individual would choose to invest through managers with some of those reasons being:
a) Like all investments there is volatility. Some people would like to hedge their investments through a manager to avoid the ups and downs of normal market cycles. Now, of course there is a risk involved with managers, again, the same as any other investment, but because of the transparency of the Genesis Vision platform it allows users to do their own research and invest with managers accordingly.
b) Many people are not tech savy and have no idea where to look or begin when it comes to investing in cryptocurrencies. I personally talk to many people every week about cryptocurrencies and the first thing they say is “I want in but I don’t even know where to begin. Can you help me?”. By using the GVT platform new and inexperienced users no longer have to worry about buying some coin that they were told was the next big thing only to find out it was a hype coin that devalues over time and they lose their initial investment. They can buy into reputable managers and sleep sound at night knowing their investment is in good hands.
c) Most people are just too busy to be constantly researching analyzing the markets to find the next best investments and so they would want someone with a track record to do this for them. Being that they are busy they also don’t have the time to respond in the cases of market corrections, dips, etc and a manager does have time.
d) Diversification. A lot of investors tend to diversify their portfolio to hedge against potential losses. Some may choose to hold GVT and invest through managers at the same time.
When will Genesis Vision be on other exchanges such as Bitfinex and Bittrex?
Many exchanges require those who apply to list their tokens to sign non-disclosure agreements and therefore the team cannot talk about upcoming exchanges because exchanges don’t allow that. There has been stated however that a working product is needed for listing on big exchanges. That could mean that once alpha is live new exchange listings will take place.
Also, the team believes the volume on Binance is sufficient for the time being and so getting listed on more exchanges is not a priority right now.
Why do so many tokens belong to only a handful of addresses?
The are many reasons that so many GVT belong to these addresses. Some being:
a) Exchanges must hold a large amount of any token so they can provide liquidity in the markets.
b) Founder’s/Team members. As stated in the whitepaper the team would allocate 11% of the total token supply (less than most companies do) in order to provide an incentive and funding to complete the project. The Founder’s coins are locked and cannot be touched for 1 full year.
c) 5% is reserved for the Genesis Vision Fund. Tokens from this fund will be regularly invested in successful platform managers.
d) Market makers — otherwise known as “Whales”. Investors with deep pockets. People that see the true value of the Genesis Vision platform and buy in and hold because they know one day their bag will be worth exponentially more.
You can find the full list of addresses with token amounts here.
What if the profit growth of the GVT token itself outpaces the managers profit growth or if the manager doesn’t make a profit?
The beauty of the platform is accessibility and transparency.
With that said, nobody has a crystal ball. This is why it is good to educate yourself and thoroughly do your research before making any investments. Some are more profitable than others. It all depends on where you place your bets. A desired result is virtually never guaranteed.
I’m concerned about adoption. How widely will Genesis Vision be used in the future?
User adoption will happen in Genesis Vision because of the following reasons:
a) Investors/traders, especially new and inexperienced ones, try to trade and lose most of the time. It is commonly known that “95% of day traders lose money” and they end up quiting. When they see managers making nice profits, they’ll want to try it.
b) Genesis Vision is not only limited to crypto but to other investments as well. For instance, stocks. On the stock market in order to be classified as a day trader and be allowed the privileges that day traders have one must have $25,000.00 in their trading account. Through use of this platform those with smaller accounts can still have access to the stock market and the managers may trader accordingly.
Looking at the charts it shows huge spikes of volume. Is this coin being subjected to P&Ds?
There are several reasons these things can happen. Without getting too in-depth let’s break it down to several reasons as to why the price and volume can rise very quickly:
Market cap, low volume, and thin order books. Being that Genesis Vision is still under the radar for a vast majority of the population, even in the cryptosphere, this means that most people are not aware and have not bought GVT and therefore the market cap can unfortunately be subjected to quick price movements. As stated, the low market cap means criminals can target tokens such as GVT and use buying power to spike the price of the token, lure others in, and then dump on them. These actions are illegal but because this is crypto it happens from time to time. With that said, not all spikes are P&D, some are organic, some are deep pockets buying in, some are day traders doing what they do, among many other reasons…
With Alpha coming so soon we are beginning to move away from the days where small malicious actors can manipulate token price and therefore these things will no longer happen. This is the same thing that happens with virtually every other token before it gets mainstream.
In general, in regards to volume, the volume stays on the lower side because most people that have bought into Genesis Vision see the instrinsic value and are buying to hold and not to day trade with. Many are being patient and waiting for Alpha release, marketing efforts, partnerships, beta release, 1.0 release, etc.