Dec 18, 2021
Recap of the Genesis Shards AMA with Blockchain Space
On Wednesday, December 15th, we had the pleasure to welcome to our Telegram chat:
Ashutosh, A core team member in charge of Partnerships & Community at Genesis shards.
We asked him questions about the development of Genesis Shards.
INTRODUCTION
Q~ Thanks for joining today, could you introduce yourself and the team background to our community firstly ?
A~ I am Ashutosh, I am a core team member at Genesis shards & I take care of Partnerships & Community at GS.
I have been in the blockchain space for more than 3 years. Prior to this, I have graduated from a top tier B-school in Asia. I have worked at top financial firms before taking the plunge in crypto.
About the team at Genshards:
Genesis Shards is a 20-member strong mission driven global team that has built and scaled products at Harmony, Marlin Protocol, 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 Sandbox, Mantradao, Kava 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.
Q~ Could you briefly re-introduce Genesis Shards to us ?
A~ GenShards is a whole new marketplace for pre-IDO tokens on NFTs . 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. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens. This opens up a whole new universe of possibilities !
- For Investors - they will no longer have to worry about shady OTC deals with high default risk : they can simply utilize the safe, trustless pre-IDO liquidity provided by Genesis NFTs.
- For DeFi projects - they can leverage the early liquidity of their tokens offered by the platform and build a strong community support early on in their journey. They can also get a sense of early price discovery helping with quicker course corrections.
This opens up a new frontier for DeFi NFT’s where they can now be reimagined as Defi options, from being mere collectibles.
Genesis Shards is creating a permissionless environment of interchain liquidity for pre-IDO tokens. At the core of its architecture, GS has 4 main building blocks:
1) The $GS token - It is the native utility token of the ecosystem. Currently you can buy it on Eth & BSC. It also plays a significant role in governance of the Genesis network.
2) Gen Access - Gen Access clubs are the ‘entry passes’ into the Genesis Shards ecosystem. They allow holders to acquire Gen Tickets in the NFTOs.
3) Gen Tickets - Each ‘Gen Ticket’ has 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.
By wrapping time-locked fungible tokens (in this case PreIDO tokens) into NFTs (in this case the GenTickets), the NFTs start behaving like a DeFi option which can then be traded on the NFT AMM dex (Gen NFTX). Gen tickets are accessed through Gen access cards bought with GS tokens and are redeemable for post-TGE (Token Generation Event) tokens once its vesting cliff period is over. Just like regular options, these Gen Tickets will have some value derived from the underlying assets (pre-IDO tokens), and some value derived from time sensitivity (token unlock points). When the last post-IDO token tranche is unlocked by the project, that is when the time value would collapse to zero - and only the underlying asset value would remain.
As one can sense, the first use case of GS is to create a liquid OTC market using NFTs. However, the very derivative nature of Genesis products can open up endless possibilities for NFTs in the DeFi space subject to ones exploration and interpretation.
In short :
GenShards is a one of its kind “”NFTO”” launchpad - the project launches happen via exclusive NFT collections.
- NFTO is an unique offering via a limited-edition NFT collection
- Our community members get to participate in some of the best gaming projects at an early stage, through exclusive project NFTs ! The NFT will be redeemable for project tokens after the IDO
- We support promising blockchain & gaming projects with crowdsourced funding in their early stages, while helping them with community building and marketing.
Q~ What are some of your significant achievements and what do you have planned for the near future ?
A~ We have some significant achievements to our name since our launch, 6 months ago.
Let me briefly list them down :
- Incubated more than 20 projects
- Launched staking program in collaboration with Alliance Block
- Expanded our ecosystem to more than 50+ partners and growing
- Integrated our app on 4 blockchains - Eth, BSC, Harmony, Polygon. More integrations in the works!
- Completed Security Audits with two reputed firms in the space
- Expanded our community programs ; we have a Newsletter published every fortnight that provides insights into the markets and our ecosystem
- We launched some active partnership programs across the NFT space
- Our tickets are listed on open marketplaces like Opensea & NFTrade.
As for things coming up, we are completely revamping our platform through GS2.0. You can find out more about that through the links below:
We just made the latest reveal today 😉
✨GS 2.0 Reveal 2/4 - Project Plutus ✨
Project Plutus will revamp the Access Clubs & NFTO process 🔥
👉 In Access Club 2.0, tiers will be decided through staking of GS tokens in special purpose pools called Access Pools ✨
👉 You not only get to take part in NFTOs, but also earn a yield on your holdings in GS Karma ($GSK) tokens 💰
👉 Existing Access Club members will need to stake GS in an Access Pool by 1PM UTC 25Dec21, to ensure a smooth transition to Access Club 2.0 ✅
📌 The GS-BSC Access Pool is now live - access it here. (ETH chain pool coming soon)
📌 More on the upgrade here
🗣 Retweet
ANN link :
QUESTIONS FROM BITCOINTALK
Q~ It’s great to see you’ve evolved since the last AMA at Blockchain Space and had lots of promising projects having offerings on Genpad, but I noticed you’ll be introducing some changes, can you brief us about the GS 2.0 Arsenal, what’s the upgrade to #GenShards 2.0 all about ?
A~ We are in the process of revamping GS to make our platform more user-friendly, updated & cutting-edge.
We have made some reveals this past week 😎. The first reveal being Project Themis
✨GS 2.0 Reveal 1/4 – Project Themis ✨
👉 Project Themis aims at revamping. token utilities of the GS ecosystem ☯️
👉 $GSK (GS Karma) is a new utility token which will provide multiple benefits within the GS ecosystem to holders ⚡️
👉 You can redeem GSK for NFTO guaranteed spots, for GS tokens, to vote for DAO proposals, & more 💪
📌 More on GS Karma : here
Note:
👉 GSK has been airdropped to some community members (BSC wallets)
👉 Stay tuned for a Gleam GSK Giveaway (to start shortly) 💰
👉 GSK Contract Address : 0x81ff4bbd38c8149a45f779838f6be4d99d714a88
🗣 Retweet
And just about an hour ago, we made the second reveal - Project Plutus 🌟
✨GS 2.0 Reveal 2/4 - Project Plutus ✨
Project Plutus will revamp the Access Clubs & NFTO process 🔥
👉 In Access Club 2.0, tiers will be decided through staking of GS tokens in special purpose pools called Access Pools ✨
👉 You not only get to take part in NFTOs, but also earn a yield on your holdings in GS Karma ($GSK) tokens 💰
👉 Existing Access Club members will need to stake GS in an Access Pool by 1PM UTC 25 Dec21, to ensure a smooth transition to Access Club 2.0 ✅
📌 The GS-BSC Access Pool is now live – access it here. (ETH chain pool coming soon)
📌 More on the upgrade here
🗣 Retweet
Q~ What’s your secret to your thriving community, how have you been able to amass such a large number of users within a short period of time ?
A~ We have grown our community organically and we are proud that our community has remained loyal through the thick and thin of the market.
Keeping our ears open by actively taking feedback from the community and keeping them engaged through various programs has been our secret recipe.
We have our own community & volunteering programs - Genvengers & Community Angels.
The community gets a chance to contribute to GS’s success and earn handsome rewards from time to time. We also run regular contests and giveaways to keep the community engaged. Btw there are more exciting reveals coming up soon on the community front - I will advise the audience to follow our social media for the latest updates!!
QUESTIONS FROM TWITTER
Q~ Genesis Shards has three key pillars: Launch, Pre-IDO Liquidity, DeFi Option, What function do these pillars have to help you with the development and economy of the project? Are they necessary, what makes you different from the competition in this new market for Pre-IDO tokens in NFT ?
A~ As the primary use case of Genesis ecosytem, by wrapping time-locked fungible tokens (in this case PreIDO tokens) into NFTs🀄️🎴 (in this case the GenTickets), the NFTs start behaving like a DeFi option. Just like regular options, these Gen Tickets will have some value derived from the underlying assets (pre-IDO tokens), and some value derived from time sensitivity (token unlock points).
When the last post-IDO token tranche is unlocked by the project, that is when the time value would collapse to zero - and only the underlying asset value would remain. As one case sense, the very derivative nature of Genesis products can open up endless possibilities for NFTs in the DeFi space subject to ones exploration and interpretation. DeFi is a $150bn+ space and growing and the possibilities are virtually limitless!
As stated above, GenShards is a one of its kind “”NFTO”” launchpad
- NFTO is an unique offering wherein the project launches happen via exclusive NFT collections.
- Our community members get to participate in some of the best gaming/crypto projects at an early stage, through exclusive project NFTs ! The NFT will be redeemable for project tokens after the IDO
- The project tokens are wrapped within the NFTs ! So the NFTs are not only a unique collectible but also provide liquidity in the “”PreIDO”” stage (hence the term preIDO tokens)
Q~ I noticed you were givingaway some Genesis Shards Karma $GSK in a gleam contest, is this another utility token in your ecosystem, or we would able to convert it to GS after a while ?
A~ $GSK (GS Karma) is a new utility token which will provide multiple benefits within the GS ecosystem to holders ⚡️⚡️
Users will be able to redeem GSK for NFTO guaranteed spots, for GS tokens, to vote for DAO proposals, & more💪
You can find more details on the $GSK tokens here :
Q~ I’m surprised GenShards is doing the STUDYUM NFTO sale. Could you give us more details about this sale? Is there still an opportunity to participate? Unlike an IDO, what is special about this NFTO ?
A~ We launched Studyum 👨🎓 on Genpad this week. More Info here :
The whitelist for Studyum has come to a closure as we speak. However we have many more projects coming up!!
I would advise the group to stay tuned to our social media and announcement channels for the latest updates :
▪️Official Twitter: https://twitter.com/GenShards
▪️Official Medium: https://medium.com/genesis-shard
▪️Official Announcement Channel: https://t.me/genshardsANN
▪️Official Website: https://www.genshards.com/
QUESTIONS FROM TELEGRAM
Q~ It strikes me that Genesis Shards has an “Access Club” with ranks like Silver, Pink, Gold and Black. So, can you explain a little more about these ranges? How can we have access to them? What are the benefits offered to investors by belonging to this Access Club?
A~ Gen Access:
$GS Tokens are required for participating in GS NFTOs as access club members. Based on the amount of tokens held access tiers are decided enabling different access rights to its users.
There are four tiers (we call them Access Clubs)🔐
- Silver Access Club – at least 2,000 GS tokens
- Pink Access Club – at least 7,500 GS tokens
- Gold Access Club- at least 15,000 GS tokens
- Black Access Club- at least 30,000 GS tokens
Feel free to check the detailed info in the article below👇
Q~ Besides from being swapped for elements like Gen Access could you please explain us what other uses would have the $GS TOKEN in the GENESIS ecosystem?
A~ The native $GS token is native utility token of Genesis ecosystem. The token gets used for Genesis Access Club membership, 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 for participating in GS NFTOs as access club members. Based on the amount of tokens held access tiers are decided enabling different access rights to its users.
There are four tiers (we call them Access Clubs)🔐
- Silver Access Club – at least 2,000 GS tokens
- Pink Access Club – at least 7,500 GS tokens
- Gold Access Club- at least 15,000 GS tokens
- Black Access Club- at least 30,000 GS tokens
Feel free to check the detailed info in the article below👇
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.
Q~ What are your current partners in GS, what benefits do partners bring to the project? What criteria do you take when choosing a partner? How are you contributing to the transformation of NFT into a liquidity vehicle for Pre-IDO tokens, among other things?
A~ We are focusing on partnering with high quality projects from across the crypto space. We have already integrated our app on 4 leading blockchain protocols – ETH, BSC, Polygon & Harmony and we are actively integrating even more blockchains on our platform. Therefore, we can potentially collaborate with a wide range of projects!
Any partner coming on-board gets access to our huge ecosystem – 50+ and growing, and also to the projects that we incubate. Therefore we have a steady stream of growing partners. We have collaborated on various frontiers with multiple projects – be it security, oracle services, NFT marketplaces etc. Being an NFTO pad we can connect our launch partners to any relevant projects that they could collab with in their early expansion phase.
CONCLUSION
I hope the group has a good idea of the latest updates and happenings at GS.
Would like to encourage all to follow our social channels.
We have some exciting NFTO projects. & reveals coming up!!
Follow our social channels 📺
Medium | Twitter | Telegram community | Telegram announcements channel
Thank you for hosting me @xiaolinofficial !
It’s really nice having the Genesis Shards project in here!!!
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