Genesis Shards Partners With Centaur for Community and Ecosystem Growth
Centaur is pleased to announce a partnership with Genesis Shards, a pre-IDO liquidity vehicle that gives users early access to tokens. Genesis Shards wraps illiquid tokens to promote more accurate price discovery and crowd-sourced exposure. This collaboration will entail the listing of GS on the multi-asset, multi-address, multi-purpose Hadar wallet. In addition to this, both projects will explore the possibility of cross-listings with GS listing on Centaur Swap in future and CNTR listing on Genshards as a community round.
Pre-IDO Liquidity Vehicle
Genesis Shards is a decentralised ecosystem designed to address existing problems in the pre-IDO space. Pre-IDO projects face a high risk of default owing to low token liquidity due to the lack of a tradable market and inconsistent OTC trading practices. Major liquidity issues include the requirement to lock tokens into long vesting periods and liquidity fragmented across many DEXes.
Genesis Shards creates pre-IDO liquidity for startup projects before their public DEX launch by converting non-fungible tokens (NFTs) into a decentralized finance (DeFi) option, developing a seamless cross-chain liquidity environment for pre-initial DEX offering (IDO) tokens. Genesis Shard’s Genpad creates a liquidity vehicle for projects by wrapping fungible tokens into GenTicket NFTs. These pre-IDO NFTs can then be traded on the open market and redeemed for project tokens after the IDO.
An All-Encompassing DeFi Suite
Hadar is a place to easily manage and store crypto assets across several protocols , such as Bitcoin and Ethereum. Wallet users can manage crypto assets on the go across any device with the same log-in details, without the need to export and import private keys. Users will eventually gain access to a broad array of DeFi services including lending/borrowing, staking, and swaps. As these services and their usage grows, they will contribute liquidity to Centaur Swap and the larger ecosystem.
By listing GS on Hadar, investors and community members will have the option to use it for interactions with the GS token. Furthermore, when NFTs are supported by Hadar in future updates, the two projects would also collaborate on listings of pre-IDO NFT tokens. As Hadar finds a greater audience of users within the Genesis Shards community, many of these curious users will be exposed to the conveniences it brings.
Beyond the aforementioned integrations, both teams are exploring the possibility of cross-listings. As a platform for distributing locked tokens, Genesis Shards is the ideal partner for a structured community or ecosystem round of CNTR and WHEY tokens. This would reward long-term investors of CNTR with discounted rates while increasing the distribution of CNTR tokens. Similarly, GS tokens can potentially be listed on Centaur Swap to enable single-side staking and farming of WHEY tokens.
About Genesis Shards
Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless environment of interchain liquidity for pre-IDO tokens. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens.
The next major steps in Genesis’s journey will be announced soon! Keep an eye on this space for updates.
Centaur is a pioneering project in the decentralized financial space that acts as a bridge between the traditional financial space and the decentralized financial world. The project supports the crucial features of the blockchain, while at the same time taking advantage of the fail-safe elements of centralized systems.
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