According to the latest reports, Genius Yield has made an announcement in regards to its ISPO. Genius Yield, a major liquidity management protocol and a decentralized automated market maker has provided the latest information in regards to initial stake pool offering (ISPO).
Genius Yield reportedly operates through the Cardano blockchain network. It was on December 15, 2021, when Genius Yield had announced that it was announcing its ISPO.
The firm also revealed that it would continue running fundraisers. The particular fundraising will continue taking place until June 15, 2022. This means that the fundraiser will go on for six months. The data from CoinMarketCap shows that as of now, a total of 95.8 million Cardano have been allocated to the staking pools. At the time of writing, the revealed number of Cardano translate to $118 million.
Through the staking pools, the users are able to stake their cryptocurrencies into the pools. This way, the users are able to earn rewards, which may also include new tokens that are offered through the new blockchain projects.
After a certain amount of time, the users are free to withdraw the same amount of cryptocurrencies they had staked in the first place. This is a process, which is extremely profiting and advantageous for the investors. Through the staking process, the users have nothing to lose, and instead, they end up gaining on them.
Throughout the ISPO, the users will be staking Cardano in order to receive rewards and more tokens. It has been announced that the users will be receiving the GENS tokens in the process. As of now, there are a total of four staking pools that the users will have access to.
For now, the only cryptocurrency that the investors can stake is GENS. Throughout the staking round, a total of 10 million GENS tokens will be distributed among the users. As of now, there are a total of 100 million GENS tokens allocated to the protocol. Therefore, 10% of the total tokens have been dedicated to the staking pool.
In addition to the rewards and GENS tokens, the investors will also be eligible for receiving funds. The funds received would be acquired through the transaction fees that the project will be charging users. Throughout the staking round, the users will be receiving 20% of the transaction fees.
The team has confirmed that they will be launching a new solution that would offer investors the ability of advanced trading. The users will gain access to the automated trading features, yield optimization, trading strategies, and another kinds of algorithmic trading.
The new project will be able to provide support and assistance to millions of cryptocurrency users in the upcoming days. It would also help GENS token build a strong rapport throughout the crypto-verse.