How will the Genesis Pass work in reality?

All the detailed information about the GPass functionalities and its levels

Genesis Pool (GPool) recently announced the launch of its loyalty scheme called the Genesis Pass (GPass). The scheme is very simple and is formed of three levels; Gold, Silver and Bronze.

How will the GPass work in reality?

Example 1: An investor who joins GPool at launch

Michael Sailor, an investor who follows the launchpad sector, reads about GPool before its launch and registers his email address on our website. He is contacted by GPool and when the time is ready, connects his MetaMask wallet on the GPool platform and is whitelisted for the GPool IDO.

He buys the maximum whitelisted allocation of $500 to $1,000 of GPool tokens and immediately places them in the GPool staking pool. Michael is automatically made a Gold GPass holder and receives the highest staking pool rewards.

When GPool announces its first IDO, Michael is automatically whitelisted as a Gold GPass holder and he buys the full allocation of tokens. The IDO has a second round of allocation and Michael as a Gold GPass holder is able to buy a further round of tokens. After the IDO, he continues to hold his GPool tokens in the staking pool and therefore maintains his Gold GPass.

Example 2: An investor joining after the GPool launch

Cathy Woods, only hears about GPool after its launch, but wants to invest before our first IDO. She buys $800 of GPool tokens on Uniswap and stakes them in the GPool staking pool. She’s automatically made a Silver GPass holder and receives staking rewards 2/3 of Michael.

Like Michael, she is whitelisted for both the first and second round of GPool’s first IDO. After the IDO she continues to hold her GPool tokens in the staking pool and therefore maintains her Silver GPass. After 7 weeks, she becomes a Gold GPass holder.

Example 3: A late investor

George Boros hears about GPool after the launch of our first IDO. He buys $500 on Uniswap and stakes them in the staking pool. He becomes a Bronze GPass holder and receives staking rewards 1/3 of Michael. After 50 days and participating in five IDOs, George becomes a Silver GPass holder. He sees his GPool tokens are now worth $900. He unstakes and sells $600 worth and falls below the minimum holding and loses his Silver GPass. If he tops up his GPool holdings to $500 in the staking pool he will become a Bronze GPass holder again.

Further Questions Answered:

How many GPool tokens must I stake to get the GPass?

The number of GPool tokens required to be staked for investors to maintain the GPass is $500 to $1000. There will be a twice monthly snapshot to confirm investors status prior to any whitelisting event.

If I hold more than $1,000 of GPool tokens in the staking pool will I get any more benefits?

You will earn 3x rewards on your staked tokens. You cannot be higher than Gold GPass.

What does priority whitelisting mean?

Gold GPass holders will be whitelisted first, then Silver and then Bronze. If there are still places available then non-GPass holders will be chosen. We want to encourage all our investors to join the GPass scheme.

Can I move my GPool tokens from one wallet to another and still maintain my Gold GPass?

If investors have qualified for the Gold GPass and have their tokens staked, but then decide to move their tokens out of the staking pool and from one wallet to another and then re-stake their tokens, we will do everything we can to allow them to maintain their Gold GPass.

Are you still having one investment tier?

There have been a number of questions regarding our simple one investment tier structure following the announcement of the GPass. We have not changed anything and all investors will be able to register and partake in the GPool IDO and all our other IDOs by holding a set number of GPool tokens. The GPass gives long term holders of the GPool token more benefits and priority whitelisting. It does not benefit wealthy investors, just loyal ones.

Will you listen to the community feedback?

The GPass will naturally evolve over time as community feedback is incorporated into the scheme. We will regularly adapt to the community needs, always looking to improve its functionalities.

How can I speak to the team?

Join the Telegram community where Genesis Pool team will host some AMAs. Investors can ask anything regarding the GPass and anything else to do with GPool.

For further information please register your email on our website for all future whitelistings.

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