Dashboard Final Version & Public Sale Update
Hello Genius community!
We have been very busy behind the scenes and wanted to keep you updated! We have revamped the dashboard to reflect the bonus rewards delegators earned! Regrettably, we also have to delay the public sale to allow for ample testing of the launchpad. For more information, please read below!
The results are in and the bonus rewards program has been a great success! Our goal was to develop a system that was geared towards the average delegator. We noticed in other ISPOs whales or very large delegators, received the vast majority of bonus rewards. We wanted to change that and designed a system that would be determined per delegator and not per ADA.
As stated previously, the bonus rewards system was designed to benefit the average delegator. Before the ISPO started, we noticed a large amount of “wallet splitting” to take advantage of the bonus reward system design. This is where a larger wallet would act as a “parent” wallet, which would create “child” wallets. For example, someone with 50k ADA would make 100 wallets with 500 ADA each, so they would gain bonus rewards for 100 wallets and not just one. This is a tactic we repeatedly said would not be allowed and that we would have a vetting process.
For the vetting process, we examined the unique staking histories of our delegators and searched for patterns of parent wallets or root wallets that funded child wallets. If you create more than 5 child wallets, those child wallets were placed on the blacklist and only the root wallet will receive bonus rewards, including NFTs.
Now for bonus rewards results!
Bonus reward amounts are based on the highest tier of NFT earned. For example, if you obtained both Diamond Hand and Shark, you would receive the bonus for the highest tier NFT, which would be Diamond Hands.
Tier 1 NFTs= Diamond Hands and Ape
Tier 2 NFTs= HODLer and Degen
Tier 3 NFTs= FOMO and Shark
Total amount of Tier 1 wallets= 3720 wallets, for a total bonus reward of 201.06 per delegator
Total amount of Tier 2 wallets= 993 wallets, for a total bonus reward of 134.04 per delegator
Total amount of Tier 3 wallets= 1734 wallets, for a total bonus reward of 67.02 per delegator
For example, if you delegated for a full 30 epochs with 500 ADA, you’d earn 37.5 GENS in regular ISPO rewards and 201.06 in bonus rewards for a total of 238.56 total GENS rewards!
Total amount of NFT earned:
- Diamond Hand: 3307
- HODLer: 989
- FOMO: 2168
- APE: 760
- Degen: 298
- Shark: 669
Want to know what you earned?
These changes are now reflected in our dashboard! Just visit our dashboard here, enter your stake key, and see what bonus rewards you’ve earned! Not only will it tell you how much you earned in bonus rewards, but it will indicate which NFT or NFTs you earned!
If you didn’t delegate in time to earn an ISPO NFT, fret not! You’ll be able to mint a “Late Fan” NFT that will allow you to stake your vested ISPO GENS rewards! The Late Fan NFT will cost 50 ADA and 5,000 will be available to mint. Details will be provided later.
GENS4 Compensation Program
Many may remember the issue we had with GENS4 early in the ISPO. As a result, we offered a compensation program for those delegators that were affected. If you qualified for the compensation program, your rewards have been added to the bonus section in the dashboard.
A delegator must meet the following requirements to qualify for the GENS4 Compensation Program:
- Must be delegating to GENS4 pool at the time of publication of this announcement (February 3rd, 2022)
- Must switch their delegations to GENS1, GENS2, GENS3 or GENSX no later than February 13th, 2022
- Must maintain their stake until the end of the ISPO: June 15th, 2022.
For those who satisfied the above requirements, you’ll see additional bonus rewards at a rate of 0.011 GENS per 1 ADA delegated.
Public Sale Delay and Testnet Announcement
When launching a new protocol, security and stability are paramount. The way to accomplish that is through careful coding and robust testing. This is something that we take very seriously, as users are trusting us with their hard earned assets. With that in mind, we regretfully announce the delay of our public sale.
We will launch a testnet in early July and invite all to participate! We will announce the details of the tester program in the near future. Once testing is complete, we will announce a new public sale date.
Public Sale Allocation Change
Due to feedback from the community, we have decided to rethink how allocations are determined for the public sale rounds. Originally we designed the system so each round’s allocation would be based on the largest amount of bonus eligible delegators. This is no longer the case.
Allocations will now be based on the total amount of bonus eligible delegators. The maximum allocation per delegator will be 500 GENS per delegator. We will be monitoring the whitelist and may increase the GENS allocation.