Recap of the Genesis Shards AMA with Blockchain Space

On Tuesday, April 27th, we had the pleasure to welcome to our Telegram chat:

Cryptocat, who works on partnerships and growth at Genesis Shards.

We asked him questions about the development of Genesis Shards.

INTRODUCTION

Q~ Thanks for joining us today. Please start off by introducing yourselves to our community

A~ I work on partnerships and growth at GenShards (GS) . 💎

I have 3+ years of experience in crypto.

Prior to this I had completed my MBA and worked at Goldman Sachs

Having a deep financial background makes me appreciate the value-add that DeFi is bringing into the world 🌎

And now the core team…

Genesis Shards is a 12 member strong mission driven global team that has built and scaled products at Harmony, Marlin, EOS, Accenture, Deloitte, and Wharton.

It was co-founded by Nilotpal Mukherjee and Garlam Won in 2020, both having a combined 12+ years of crypto experience.

Nilotpal started his career as an investment banker with Deutsche working on deal structuring, valuation and IPO processes, and later was a. strategic consultant at Accenture before taking the first step in Crypto back in 2015. Later in 2018 he joined and headed the Business at cct (a 1.7Bn$ project atm), and was instrumental in early growth of the company laying a strong foundation for the brand.

Garlam Won has also been in the ecosystem since 2015, and previously headed Marketing at Harmony before starting his venture — Momentum 6. He has been behind the marketing of some of the top DeFi & NFT projects in the space including the likes of Band, Kava, Mantradao, and 25+ others . He further exerts influence in various parts of the Blockchain Ecosystem through his in-depth connections in Korea, China, Canada and US.

As part of the Core team, we have Jae Chung, who is our superstar blockchain engineer and is heading the development team at Genesis. He became known in the space through the EOS.IO mainnet launch as a gifted developer, with his abilities eclipsing those of his experienced peers. Jae is often invited to speak at prominent conferences and can be found discussing the benefits/pitfalls of blockchain technology during interviews.

Q~ What is Genesis Shards is all about in detail, what problems inspired you to create Genesis Shards?

A~ Inspiration 💡

The inspiration for this project was frankly due to our own experiences with the DeFi OTC market.

The Pre-IDO space is still riddled with several liquidity issues 💧 — while on one hand there are very few avenues for pre-IDO trading 📈 by the community it is also a big pain point for projects as they have limited community participation, and little sense of price discovery in the early stages.

For most of these pre-IDO transactions, they are currently being executed in OTC (over the counter) ‘platforms’ or ‘forums’ which are scattered and hard to find for the average investor.

The biggest problem, however, is the highly inconsistent OTC trade practices ⚠️ for pre-IDO tokens where these trades are often conducted by two parties in an uncertain environment with a high risk of default.

In short, there are hardly any trustless and permission — less platforms that allows for fair and easy trading of illiquid pre-IDO tokens.

This is where the idea for Genesis Shards was born. !

  • - -
  • About Genesis Shards ☯️

The vision of Genesis Shards ! 💎

GenShards is a whole new marketplace for pre-IDO tokens on NFTs powered by Polkadot.

GS was created to usher in a new paradigm for DeFi transforming NFTs into a liquidity vehicle for pre-IDO tokens, and to introduce a whole new suite of DeFi products across multiple blockchains.

  • - -

GenShards can be looked at from 3 perspectives — we call it the 3 ‘pillars’ of GS 🏘

The 3 key pillars of Genesis Shards… 💎

1 - LAUNCHPAD 🔥🔥

📌 GS offers a one-stop launchpad platform , and a holistic environment for great projects to meet great partners

2 - PRE-IDO LIQUIDITY 💧

📌 GS is a game changer in this space — by enabling an entire new market for pre-IDO tokens. 💱🌠

3- DEFI NFT OPTION 🀄️

📌 With the Gen NFT swap technology behind it, the market for DeFi options is open to endless possibilities !

Pre-IDO GenTickets are just one of the first applications of this — we’re barely scratching the surface 📈📈

Q~ Can you share with us the $GS token’s utility and discuss its tokenomics?

A~ TOKEN UTILITY ☯️

📌 GenShards is a pre-IDO launchpad (Genpad), and there will be projects launching on us

Holding a certain number of $GS tokens provides access to launchpad projects 🔥

📌 Utilities of the $GS token in the ecosystem

The $GS token is native utility token of Genesis ecosystem.

The token gets used for Genesis Access, Genesis NFTX and plays a significant role in Genesis network governance.

The various roles of $GS token in Genesis ecosystem:

Gen Access: 🗝

$GS Tokens are required to be swapped for Genesis Access NFTs to be a part of the Genesis network. Based on the amount of tokens held access tiers are decided enabling different access rights to its users.

Gen NFTX: 🀄️

$GS token is the native token on the NFTX platform allowing users to benefit from reduction in Swap fees for tickets, access cards or Gen smart contracts.

Gen Governance: 👥

$GS tokens would provide governance rights to its members where they can vote on different proposals within the ecosystem. The number of tokens held would be a representation of voting power within the network.

The best part about the Genesis $GS token is that it accrues value with every new pre-IDO that gets launched on it.

  • - -

TOKENOMICS 📊

📌 $GS token Overview

. Name: Genesis Shards

. Symbol: GS

. Type: ERC-20 and BEP-20 compatible | Decimals: 18

. Total supply: 208,969,354

. Initial Circulating supply on launch: 12,030,988

. Initial Market cap on launch: $1,443,712

. Seed round: $0.05/Token | Strategic round: $0.075/GS | Private round: $0.095/GS

. Unlocked round (POLS IDO & Gen Tickets): $0.12/GS

📌For more detail — please refer to this post

https://medium.com/genesis-shard/genesis-shards-tokenomics-and-utility-d332c0b4b98b

Q~ Could you share the current achievements and do you plan launching any products soon, what should we look forward to in the coming months?

A~ Here’s a short recap of key milestones we’ve hit so far

  1. Strategic fundraise round 💷

We successfully closed a $2.7Mn fundraise with participation from industry heavyweights such as 3Commas, Block Dream Fund by OKEx, LD Capital, Spark Digital Capital, Santiago Roel Santos of Parafi Capital and Momentum 6, among several others.

Press coverage -

2. Hugely successful launch of the first-edition GenTicket NFTs 🀄️

The launch of the $GS GenTicket NFTs (the first-ever GenTickets) received a staggering 215,000 registrations! 165 limited-edition NFTs were distributed to the community in this GenTicket sale.

Medium post -

3. The wildly successful public sale for the $GS token ☯️

Our public token sale via a Polkastarter Dual IDO received a groundbreaking 1,500,000 registrations! GS was the very first-ever dual IDO on POLS with a simultaneous launch on ETH and BSC ( successfully completed Apr 14th )

Medium post -

4. Key partnerships for GenShards 🤝

Genesis Shards has entered into partnerships with projects that are industry-leaders or cutting-edge innovators in their respective fields. Partnerships that have been established to date include :

Polygon, PolkaFoundry, Kylin, dART, Zeroswap, Raze network, CardStarter

5. Announcement of the Genvengers Program 🦸‍♂️

This was recently announced to take our community to the next level !

You are free to apply to it ✔️

🕔The most recent update -

🔥6. Unveiling of the Genesis Shards launchpad — Genpad 🔥

📌 We recently shared our roadmap, which discusses our progress in depth

QUESTIONS FROM BITCOINTALK

Q~ The first project on Genpad is coming up in 6 days, How can I participate in your launches, what are the pre-requisite’s interested users needs to meet?

A~ The gateway to participate 🏊‍♂️ in Genpad launched projects would be primarily through being part of a Gen Access Club.

📌Note: Gen Access Clubs will account for the majority (75%) of the launch allocation, there will also be a smaller allocation for the open community (25%)

Gen Access Club entry will be enabled by holding a certain minimum number of $GS tokens 💰 for a certain period of time. 💎

More details in these posts !

Stay tuned folks — we have some exciting updates coming up !

Follow our 7-day journey to Genpad launch on our social media channels ✅

Q~ There have been a lot of other promising projects on paper which have failed to take off, what lessons have you learnt from them and how do you provide confidence to your users and investors that this is worth investing in?

A~

1. GenShards was started due to our own experiences with the DeFi OTC market and its shortcomings

There are hardly any trustless and permission — less platforms that allows for fair and easy trading of illiquid pre-IDO tokens.

We believe that our innovative GenTicket NFTs are going to solve this very real issue in the pre-IDO space today ! ✅

2. When we shared this vision with potential backers — we got a lot of support and we have some of the top crypto funds believing in the GenShards vision

3. We have a highly experienced team across key domains 💎

Tech:

We have Jae leading our dev

He became known in the space through the EOS.IO mainnet launch as a gifted developer, with his abilities eclipsing those of his experienced peers, and comes with years of Blockchain experience.

Marketing:

We do believe we have a very competent team from a marketing perspective.

In fact our Co-Founder Garlam Won headed marketing at Harmony, and has consulted several top-tier DeFi projects in this area including Kava, Band, Mantra Dao etc.

Business:

Our cofounder Nilotpal comes with a strong business and strategy background and previously headed the Business at Marlin Labs.

QUESTIONS FROM TWITTER

Q~ What kind of support/benefits will you offer early stage DeFi project’s wanting to leverage the early liquidity of their tokens using the Genesis pre-IDO liquidity market?

A~ Key highlights of Genpad — support for early stage DeFi projects

📌 Genpad is the first-ever launchpad platform that offers access to Pre-IDO liquidity 🀄️ for its project partners, through its novel GenTicket Defi-NFT option product.

📌 Projects shortlisted for the Genpad platform get access to best possible support early on 👨‍🏫 in areas such as community engagement, social media reach out and mentorship. This is enabled through access to our vast base of strategic partners including Access, Ecosystem, and Mentor shards .

📌 Projects also get access to IDO on some of the top launchpad platforms in the DeFi space 🚀 today, which are also strategic upstream partners for Genpad. More updates on this coming soon ;)

Q~ As I read it, Genesis Shards is structured in 4 blocks: $GS token, Gen Access cards, Gen Tickets and Gen NFTX. Could you explain how each one works? How do they finally interconnect?

A~

1) The $GS token — It is the native utility token of the ecosystem. It is an ERC20 token issued on Ethereum and can be swapped for elements such as Gen Access. It also plays a significant role in governance of the Genesis network.

More on the uses of $GS token :

2) Gen Access cards — Gen Access Cards, once launched, will make the holder a member of the relevant Gen Access Club.

For context :

3) Gen Tickets — Each ‘Gen Ticket’ will have a varying amount of Pre-IDO tokens that are inside. The tickets themselves can be traded on NFTX — or they can be swapped for tokens after the IDO, at the time of the token generation event.

4) Gen NFTX — It is a marketplace for DeFi products that come out of the Genesis Shards ecosystem. It has the ability to shard NFTs for fractional swaps.

Q~ I love this concept and I’m interested in supporting you on your journey to becoming the number one launchpad in the pre-IDO space, I came across the Gevenger program, can this be likened to an ambassadorial Program, what is it all about, is there a specific area of expertise you are searching for or can anyone apply?

A~ Thanks for your interest !

We invite community members, supporters and followers from around the globe 🌍 to join us in our efforts to become the numero uno launchpad in the pre-IDO space⭐️

Refer to this post for details — 👇

t.me/genshardsANN/139

QUESTIONS FROM TELEGRAM

Q~ A strong and solid community is needed now as the strength of a project to be successful. Do you agree with that? What have you planned about that?

A~ Community is at the core of Genesis’s vision.

The very heart of the product focuses on two main challenges faced by the community in Pre-IDO space :

  • lack of liqudiity in OTC markets 💧
  • inconsistent OTC trade practices in uncertain environment ⚠️

In addition to this, our vision involves creating a community centric marketplace where retail members. get access to early-stage entries in some of the best-vetted projects in the DeFi space — on the same stage as VCs/ institutions,

Community plays the most significant role in the Genesis Shards ecosystem, right from the ground up. ⚡️

  • - -

We have recently decided to take the GenShards community to the next level through our Genvengers Program

Would request all of you to check it out, and apply if you fit into a Genvenger role ! 🦸

👨‍👨‍👦‍👦 As a Genvenger, you’ll be working closely with the GS team.

Some of the benefits of joining -

🤝 Ability to grow within the industry

👨‍🏫 Potential stepping stone for a place on the GS team

💰 Rewards on the basis of the work that you do

https://t.me/genshardsANN/139

Q~ Can you tell us a bit more about GenAccess cards ? When will they be launched ? What is their use ?

A~ The gateway to participate 🏊‍♂️ in Genpad launched projects would be primarily through being part of a Gen Access Club. ♣️

( Note: Gen Access Clubs will account for the majority (75%) of the launch allocation, there will also be a smaller allocation for the open community (25%) )

Now for becoming a Gen Access Club member, you need to be either a

  1. $GS token holder
  2. Gen Access Club entry will be enabled by holding a certain minimum number of $GS tokens 💰 for a certain period of time.
  3. (Details here)

2. Gen Access Card holder ✅

Gen Access Cards, once launched, will make the holder a member of the relevant Gen Access Club.

They are scheduled for launch in May 2021.

Q~ Who are the upstream IDO partners for Genpad ?

A~ One of the key value-adds of Genpad for partner projects is. -

Projects also get access to IDO on some of the top launchpad platforms in the DeFi space 🚀 today, which are also strategic upstream partners for Genpad.

More updates on this coming soon ;)

👥 Do follow us on social media to stay updated !

Q~ Who are all the Access, Ecosystem and Mentor partners for Genpad ? How will they help projects ?

A~ Genpad offers a one-stop launchpad platform 🚀 and a holistic environment for great projects to meet great partners.

With its large network of Access , Ecosystem and Mentor Shards to provide support across various aspects, it can be the perfect launch partner 👥 for a DeFi project

The graphic shows the first cohort of our Strategic partners !

Q~ Let’s imagine that a person wants to work with you by applying to the Genvengers program specifically in the area of responsibility: ¨social media¨ this person is an expert in managing social networks and creating connections with other partners, how they could convince them as well as other enthusiasts to work with you and get started on the Genesis Shards trail?

A~ If you are an expert at social media networking, you should definitely think about applying for a Social Visionary position in the Genvengers program !

More details can be found here :

https://t.me/genshardsANN/135

CONCLUSION

I would like to highlight our key development right now — that of the Genpad launch

Do follow us on a 7-day unveiling journey ! 👍

https://t.me/genshardsANN/141

Today is Day 2 of our 7-day launch

The first partner on Genpad will be announced on day 7 🔥

https://t.me/genshardsANN/145

It’s really nice having the Genesis Shards project in here!!!

You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to Genesis Shards.

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