Genius Yield Staking Program: A Utility Token that Pays Rewards
The Genius Yield platform is a decentralized application (DApp) ecosystem where users can interact with multiple applications. The upcoming Genius decentralized exchange (DEX) will be an order-book DEX that allows liquidity providers to place concentrated liquidity positions to maximize capital efficiency. The Genuis DEX will also be the first DEX to be paired with a yield optimizer protocol, which maximizes return and minimizes loss based on the preferences of liquidity providers.
DApps continue to proliferate in the Cardano ecosystem. Over time, users will have to be more strategic about where they allocate their limited funds among a growing list of dApps. Let’s talk about the value you receive from staking $GENS, the native token of the Genius Yield platform:
- What if you could get a 20% of all trading fees earned from the Genius DEX?
- What if you could also get an additional 20% of all vault fees paid by users of Genius Yield’s Smart Liquidity Vaults?
- What if you could get governance rights on the future development of Genius Yield?
- What if you could get access to premium content and discounts at the Genius Academy, which will include exclusive educational content provided by Dr. Lars Brünjes, the CTO of Genius Yield and Director of Education at IOG?
- What if you could have a crypto wallet that allows crypto and fiat deposits while giving you exclusive perks on the Genius Yield platform.
Sounds too good to be true? That’s what you’ll get by participating in the $GENS Staking Program!
Note: Input Output Global (IOG) is the research and engineering company behind the development of the Cardano blockchain.
Genius Yield is building the first concentrated liquidity order-book DEX with a Yield Optimizer. The Genius DEX is expected to launch 1H 2023 and the Smart Liquidity Vaults are expected to launch later in 2023. $GENS is the fungible native token of Genius Yield. $GENS holders will be able to stake their tokens in a Genius pool for many platform benefits. Let’s detail the benefits you’ll receive by participating in the $GENS Staking Program below:
BENEFITS OF $GENS STAKING PROGRAM
By participating in the $GENS Staking Program you’ll have multiple sources of rewards.
Fig. 1: $GENS Staking Program
Participants in the $GENS Staking Program have three sources of staking rewards: the Genius DEX fees, the management fees of the Smart Liquidity Vaults, and the performance fees of the Smart Liquidity Vaults.
1. 20% of Genius DEX trading fees — Outside of the standard transaction fee the Cardano network charges to submit a order, there are two fees charged when a transaction is executed on the Genius DEX:
- Genius DEX Fee — Trade fees that go to the Genius Yield company. 20% of these fees are returned to participants in the $GENS Staking Program.
- LP Fee — Fees to compensate the liquidity provider (LP) for providing their capital.
2. 20% of Smart Liquidity Vault Fees — There will be multiple AI-power algorithmic trading strategies that will actively manage LPs’ funds to achieve the highest yield possible. The initial vaults available will be created and actively managed by Genius Labs, which will charge two fees.
- Management Fee — Is a standard fee charged as a percentage of the TVL (Total Value Locked), which is the total market value of cryptocurrencies deposited into a smart contract. The management fee covers expenses involved with managing the portfolio such as operations and administrative costs. $GENS stakers would receive 20% of these management fees.
- Performance Fee — A fee charged as a percentage of profits made by a Smart Liquidity Vault strategy. In other industries the performance fee percentage is much higher than the management fee. In addition, the performance fee is only charged on capital gains, not losses. The performance fee incentivizes the creators of Smart Liquidity Vaults to work hard so that their strategies can get high returns since the majority of their compensation should come from this fee, instead of the management fee. $GENS stakers would receive 20% of the performance fees generated.
Note: The exact fee breakdown is being researched. This information will be made public once finalized.
Liquidity mining incentives — Liquidity providers will receive $GENS tokens as liquidity mining incentives for contributing liquidity to certain pools. Liquidity mining is when a DeFi protocol such as a DEX rewards users with its native token for participating in the protocol.
3. Governance rights — The $GENS Staking Program gives you governance rights over the protocol, which will eventually allow you to vote on Genius Improvement Proposals (GIPs). GIPs, like Cardano Improvement Proposals, are formal proposals that update the functionality or a feature of the protocol. The implementation of GIPs will be decided by the Genius Yield community, or those in the $GENS Staking Program.
These governance rights will culminate into the creation of a DAO, or decentralized autonomous organization, for the Genius Yield platform. A DAO is an entity with no central leadership. DAOs are usually made up of thousands of holders of the token community who will collectively make decisions for the protocol. Funds in the DAO Treasury will eventually be controlled by $GENS holders in the $GENS Staking Program.
4. Premium Genius Academy content — The Genius Academy is an avenue where users, whether they are beginners or experts, can come to learn more about different topics related to cryptocurrency. $GENS stakers will have access to premium educational content and can receive discounts on special Genius Academy content. In addition, there’ll be three experts teaching specialized content to participants:
- Dr. Lars Brünjes, the CTO of Genius Yield and Director of Education at IOG — Dr. Brünjes has trained thousands of people through the Plutus Pioneer Program on how to write smart contract code to create dApps in Cardano’s programming language Plutus.
- Loïc Staub, Attorney-at-law at JayBee — Staub is the regulatory leader at Jaybee AG. Staub provides advice to companies on Swiss financial regulations, crypto regulation, and setting up their fintech or crypto business in Switzerland.
- Christopher Fox, Founder and Managing Partner at Syncresis — Fox crafts thought leadership strategies that help innovators highlight their expertise in their specific slice of the financial industry and act as advocates for change.
The Genius Academy is also partnering with the Paris Sciences et Lettres University (PSL), one of the top 50 highly ranked research universities, PSL and Paris Dauphine University professors will give lectures in an arrangement where registering students can obtain a degree suitable for mid-career executive professions.
5. Genius Pay — Genius Pay is a cryptocurrency wallet that will allow crypto deposits and fiat deposits. Genius Pay connects decentralized finance and centralized finance, providing a quick crypto on-ramp by letting users directly deposit multiple fiat currencies. Participants in the $GENS Staking Program will also get exclusive perks.
The $GENS Staking Program has multiple benefits for a $GENS holder. A passive 20% reward redistribution, voting rights over the protocol, and educational content through the Genius Academy. Interest for the $GENS token has been high, as almost 15,000 different unique wallet participated in the Genius Yield ISPO.
Are you ready to join the $GENS Staking Program?