What you need to know about Genesis Staking Phase I Launch
The long awaited Staking Platform is here and we have all the information you need to get the most out of it
Overview
Genesis Pool aims to revolutionize the entire launchpad sector. Already having found its place as one of the most unique and fast-growing launchpad platforms, GPool is looking to expand.
The Genesis Staking platform is the next step for the ecosystem. Rewarding loyal investors, while offering a key gateway for new investors to join Genesis Pool.
Reinventing staking
Traditionally, staking platforms have conformed to the mediocre, 1 for 1 distribution systems. This gives consistent revenue to stakers, via single token APR.
While the traditional system is functional, Genesis Pool refuses to conform to mediocrity. The upcoming staking platform proudly flaunts a multitude of unique advantages for investors, reshaping both the launchpad & staking sectors at once.
The Genesis Pool native staking platform will distribute APR throughout a multitude of tokens, on numerous chains, all while prioritizing ease of use and comfortability via a simple to use and comprehensive interface. In short, the platform will bring the advantages from existing systems together in one, while magnifying rewards for all investors in perpetuity.
The advanced APR distribution system rewards stakers via the native token from every single project that has conducted a raise on the Genesis Pool launchpad, all of which have allocated between 0.2%-2% of their entire supply of tokens to the platform.
Being a launchpad, the tokens of the IDO projects are assigned to the staking platform at the very initial stages of the project’s lifetime; over time, these tokens will undoubtedly accrue value, multiplying the dollar value of the distributed rewards. At the same time, this unique approach to staking ensures that during down days and bear markets, the platform acts as a hedging mechanism, with the same functionality as a low-risk index fund.
From one single investment, users are given the opportunity to generate passive revenue throughout a plethora of gem projects, at private or pre-sale prices, avoiding the risky nature of crypto trading, while reaping the entirety of its benefits
TL;DR
- Recalculation amount will be updated every day based on the $1000 value of $GPOOL;
- Current GPass holders need to stake all of their tokens in order to retain their GPass category on the Staking Platform;
- Phase II will entail the reward distribution and will go live once all current GPass holders are onboarded on the platform;
- Phase II rewards distribution article will highlight all details with regards to the distribution periods and the type.
Staking Platform Walkthrough
At any given point, an investor will need a minimum of $1000 worth of $GPOOL tokens which will begin their GPass and staking journey. This is the bare minimum barrier of entry to investors participating in IDOs on the Genesis Pool launchpad, meaning that investors will receive passive income rewards while moving up the GPass categories (Bronze, Silver & Gold).
As mentioned in our previous articles about the staking platform, the Genesis Pass is very tightly knit to the staking platform, which is the identifier of the GPass categories and the recalculation amounts.
Now that the platform is live, the Recalculation amount will be calculated on a daily basis depending on the price of GPOOL in the market. At all times, the recalculation amount or the minimum entry barrier to getting a GPass will be marked at the value of $1000. So in order to be able to stake and get the GPass, it is recommended for a user to buy a little more than the minimum required and stake it immediately, that is when the GPass countdown will begin.
As soon as the users unstake, they will lose their current GPass holding. It is recommended to always keep adding $GPOOL to your staked amount, as it will always be of the highest benefit for a user to stake more and increase the rewards and the priority of whitelisting.
Once the minimum required tokens have been acquired via Uniswap, users will be able to begin the staking process. To begin, users will be prompted to connect their wallets; immediately, a wide array of personalized information will be available, GPass tier, $GPOOL holdings, and for new investors, the amount of tokens needed to be staked to be eligible for the Genesis Pass.
Staking of the GPool will initially be available on the Ethereum network, although in the future other chains should be compatible as well. Users will be required to stake all of their $GPOOL tokens or face losing their GPass.
Once the investor has staked their tokens and is on board, the platform will then monitor their GPass status, staked days, and the corresponding rewards. Should the investor ‘unstake’ they will drop down to the lowest pass category or be kicked out of the GPass pool, depending on the number of tokens left in their pool. With the release of the staking platform, unstaking will be added to the list of vetted actions.
Staking Platform Phase II: Rewards Distribution
As mentioned above, the Phase II will go live as soon as the migration of the GPool holders to the staking platform is complete. We’re estimating the rewards to begin within 2 weeks of the Phase I going live. A detailed article/announcement for the same will be announced before the Phase II goes out so that the GPass holders have a clarity on what the reward distribution schedule would look like and why.
As mentioned in the recent communication by Wei, we’re finalizing the distribution period for each of the project tokens as the rewards vary anywhere from 0.2% to 2% of the total supplies.
We’re currently in talks to split the final distribution into different chunks as that aligns with our core focus of 2022 which is on collaborations and the growth of the overall ecosystem. It also allows us to be flexible in order to add some extra reward campaigns to benefit the GPass holders in addition to the existing distributions.
Eventually, rewards will begin to be distributed throughout a multitude of chains. To simplify the process, the team has built the following intuitive interface:
Users will be able to see distribution periods, APR, token amounts & more valuable information on the dashboard.
Community, Growth, Longevity
Genesis Pool’s one-of-a-kind staking platform will act as a secondary revenue source for IDO investors. So far, every raise conducted on the launchpad has resulted in significant profit for investors. Bronze holders however have been consistently requesting a chance to participate in IDOs at every opportunity; while bronze holders have received allocations on several occasions, Genesis Pool aims to make every investor feel included in the ecosystem. For bronze and new GPass holders, the staking platform will not only act as a significant source of revenue but also as a way to be rewarded and own tokens from projects whose IDOs they missed out on.
In an effort to secure long-term growth and longevity, Genesis Pool will require investors to stake their $GPOOL tokens, and commit to leaving their tokens staked, or face downgrading their GPasses, and giving up significant rewards. These prerequisites follow the same system that has been required since inception and are put in place to reinforce Genesis Pool’s core values.
In the long term, an increasing number of tokens will be distributed through the staking platform. As the months pass, the total dollar value of the tokens allocated to the Genesis Pool vault will perpetually increase.
For further information please register your email on our website for all future whitelistings.
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