Programs Update

We continuously work on improving the platform and today we are releasing a new update, which mainly revolves around the functionality of Programs. We have implemented changes based on feedback from our community and users — and those improvements are now live!

Programs: Entry Fee replaced with Management Fee

After listening to the voice of our community, we wanted a more transparent and fairer fee structure for Programs. We have replaced our old Entry Fee system with the new Management Fee model, which will benefit both short and long term investment scenarios.

What is the difference?

Entry Fee is a one-time fee, charged the moment you invest.

Management Fee is charged for the actual asset management period. Management fee is defined in annual percentage and is charged at the end of each reporting period.

Example: You invest in a Program with a Management Fee of 3% and reporting period length of one month. In one month, when the period ends, you’ll be charged 0.25% of your investment amount (or resulting amount at the end of the period in case of overall loss) as a Management Fee (3% / 12 months = 0.25% in this case)

If you already were charged an entry fee for your existing investments, a management fee won’t be charged after switching to the new model.

Programs: Auto Joining After Stop Out

The Stop Out functionality is aimed at protecting investors by limiting the maximum possible loss. If the program drawdown goes below the Stop Out level — the current period is forcibly closed, and all investments are returned to investors. Until now, investors didn’t have a choice and it wasn’t always convenient. As part of the new deploy we’ve added an option for investors to stay in the program, even if the current period was to be closed by a Stop Out.

Programs: GVT Commission

As it stands, GVT holders’ commissions were charged directly from the GM traders’ GVT wallets. This setup was not convenient for Programs since the manager trades with a collective balance — thus paying a collective commission from their wallet, then receiving the commission refund at the end of the period.

Effective today the commissions will be charged directly from their MetaTrader trading account, taking into account any discounts.

Genesis Markets:

Unfortunately, the option to have ETH as a base currency has been removed due to little to no demand among our users. Accounts are available in BTC or USD currencies.

All USDT accounts have now become USD accounts, with 1:1 balance transfer.

Other improvements

In addition to the changes mentioned above, you will also see other new UI/UX enhancements next time you log in. We think these changes will increase your experience on the platform.

• Orders on your Genesis Markets trading account can now be closed directly from the dashboard, so you don’t need to open the MetaTrader terminal

• If you are subscribed to Trading signals, you are now able to see a full trading log in a separate tab.

Beta Testing

As always, we have many major developments in the works! Since some of them require an extended testing cycle and an early community feedback, we have decided to launch a new Beta Testing program.

This is a great opportunity for you to be the first to try out new Genesis Vision features and provide your valuable thoughts on them. We have always been driven by our community, and we believe this is the best way to release fully polished products as fast as possible.

All details of the new Beta Testing program will be announced shortly. Stay tuned!

That’s it for the current release, but more great news and updates are in store! As always, we highly appreciate any feedback on our new features. See you soon Visioners!