Genesis Vision Platform update 1.8

Less than a month has passed since our last update, and yet here we are again. From the implementation of the eagerly awaited High-Water Mark to Success and Entry fees changes, from details about the token burn to the addition of all the Huobi tokens in Funds, this blog post will encompass a wide range of news.

Manager Success and Entry fees

Managers will now have the ability to decrease or increase their fees for both Programs and Funds. Worry not, an increase in Manager fees will only affect incoming investors. Existing investors will be grand-fathered in. Our previous system only allowed Programs to decrease their fees, thereby prompting Managers to start high (and eventually decrease later on). Good managers who started with low fees couldn’t be rewarded with higher fees despite a steady performance. We thought that needed a change, so here it is.

High-Water Mark in Programs

In layman terms, a HWM is the highest value an investment has reached. Tracking such a metric allows us to implement a form of capital protection which guarantees that an investor does not pay fees on the same money twice. A Manager will not collect Success fees until and unless their program performance surpasses the value of their previous HWM.

For those of you who are interested to learn more, a very good description of the High-Water Mark can be found on Investopedia https://www.investopedia.com/terms/h/highwatermark.asp

Protecting Manager strategies

As it currently stands, Manager Trades become publicly available on a program’s trading history as they are being executed. We received a lot of feedback from Managers, and we listened. As a result, Managers now have the ability to delay the public display of their Trades and Open Positions by 5 minutes, 15 minutes, 30 minutes, 1 hour or 6 hours.

To keep the transparency of the platform intact, crypto keys generation and encrypted manager’s trading history publishing/revealing will be released in the upcoming 1.9 update.

Huobi pairs in Funds

In addition to all the Binance token/coins, Fund Managers will now have access to the Huobi token/coins, all 150+ of them. This is exciting for those of you looking to create a diversified investment portfolio of lesser known projects with big potential. Once again, we are leading the way in crypto asset management by offering a wide variety of investment options from various exchanges all into a single interface.

As a quick reminder, if Funds have not been rebalanced to include the mandatory 1% GVT by Oct 6th, a reallocation of the assets will be automatically executed to be in compliance with that new rule.

USDT ERC-20

When Binance switched from Omni USDT to ERC-20 USDT, many users were unable to deposit and withdraw Tether. Following the industry leaders and effective now, USDT deposits and withdrawals will only be available using ERC-20 USDT.

Token burn

• Total profit earned by investors: $54,066
• Collected Platform Success Fee: $5,406

Based on these numbers, 30 % of the gathered platform success fee (1515.95 GVT or $1,622) were successfully burned from the total supply.

Below is the transaction address showing the successful burn: https://etherscan.io/tx/0x0abf97f14505d8a9623e04623b1f4a972f4d9ab82ea25ebf9b7548b068d34482

Q4

Since the completion of the ICO, and despite the fact that we have spent very little on Marketing, the platform has shown very promising organic growth. Our user base has been steadily increasing in large part due to our amazing community, constantly pushing us to become a better version of ourselves. We truly are blessed with one of the most engaged and overall supportive communities in the crypto sphere. Once again, thank you for allowing us to continue to perfect our product.

Within the next few weeks (or months), we will share some major updates on Genesis Markets as well as minor release updates on Genesis Vision 1.9.

By the end of the year, GV 2.0 will be launched with great conceptual improvements. We will use that time to rebrand and actively promote a more mature platform ready for mass adoption. We cannot wait to show you, and the rest of the world, what we have planned. See you soon Visioners!