Announcing Improved Rewards For Genshiro Crowdloan Participants
The Genshiro crowdloan is live!
Given the active participation of users who contributed small amounts, we think it’s fair to distribute GENS tokens more evenly, so we are introducing an improved reward regime for those who participate in our crowdloan.
According to the current GENS and KSM market prices, you can earn 83% APR on participation in our Kusama crowdloan (as for July 1, on contributions over 50 KSM).
Where there used to be a 1,000 GENS reward for every KSM contributed, smaller contributions under 50 KSM will now get 2,000 GENS per KSM. Those who lock 50 KSM or more will receive a 20% bonus on top of that.
So the updated reward structure looks like this:
After Genshiro wins a Kusama parachain slot, 10% of the participant contribution in GENS will be unlocked immediately. The rest GENS will be claimed by way of linear vesting during the parachain lease period.
Does this new reward structure have your attention? Do you want to participate? Vote for Genshiro via our website, or use the parachain auction platforms by Okex, Kucoin, and Kraken.
Participants who have already contributed to the crowdloan will receive bonuses according to this new structure. In other words, they will get approximately twice the bonuses they would have received under the previous reward structure.
Thanks for your support! We’re happy to have you along for the ride as we build the future of DeFi!
