A Guide to the Genpad pre-IDO Process

How to participate — all you need to know ! 🔥

DAY 6/7 : STRAP ON TO YOUR SEATBELTS !

Yesterday we discussed the process for joining a Gen Access Club, which steps up your chances to get into our PreIDO launches. Non Access Club members can also participate in the launches, but the allocation and odds would be much lower.

Note : There will also be a few special entry slots for $GS GenTicket holders and top $GS token hodlers. 🚀

If you are interested in joining an Access Club to significantly increase odds of getting into a preIDO launch, do check out yesterday’s post.

📌The preIDO launch will start with a whitelist process — wherein some eligible participants will be entered into a lottery, and the winners will get an allocation for the public launch.

Today we explore the categories of eligible participants, and briefly touch upon the whitelisting process.

Who is eligible for the preIDO whitelist ? 👩‍🦰 👨

The whitelist draw for the pre-IDO launch will be open to these categories of investors

1 — GenAccess Club members ( Eligible $GS holders ) ♣️

75% of the launch allocation will be for GenAccess Club members. Club Membership can be attained by holding the adequate number of $GS tokens ( relevant for the first launch ) / Gen Access NFTs ( applicable for future launches )

2 — Non-Access Club members (Open Community) 👩‍👩‍👦‍👦

25% of the launch allocation would be for the open community who are not Gen Access Club members. This would have lower odds of getting a spot (less # slots, much higher # applicants ).

3 — Special entry slots 🎁

There will also be a few special entry slots for $GS GenTicket holders and top $GS token hodlers — details below.

How you can get whitelisted 📝

Here we will lay out the whitelist procedure for both groups of investors — Access Club members and non-Access Club members

For more information on the different Access Clubs’ requirements and benefits — read this post

🔖 https://genesis-shards.medium.com/genpad-is-coming-3c49b4b62000

1 . Process for Gen Access Club members ♣️

6 simple steps to take part in a Whitelist

  1. $GS token holders are able to join Gen Access Clubs on the basis of holdings in their wallet. The Clubs are Black, Gold, Pink and Silver, in decreasing order of allocation.
  2. Club members get access to the whitelist form and allocation details for each project within their respective Clubs (steps to join a Gen Access Club can be found here)
  3. 📌 The whitelist form needs to be filled as a minimum requirement to be considered for the preIDO whitelist
  4. There will, additionally, be two token snapshots taken for Gen Access Club members — you need to be holding required number of tokens on both occasions to be eligible for the whitelist
  • 📌 The first wallet snapshot will be taken within 12 hours of the project being announced
  • 📌 The second wallet snapshot will be taken at a randomly selected date & time before the pre-IDO launch

5. 👉 You will need to fill out the whitelist form correctly, and pass both the snapshots in order to be eligible for the whitelist lottery process

6. Winners of the lucky draw will be announced before the pre-IDO launch date

Also note that your wallet’s token holding status would be monitored by the Genesis Shards Bot leading up to the launch. If your holding falls below the threshold at any point — you will be removed from your current Access Club.

Note — if you want to reapply, you will need to verify your holdings with our TG Bot once again (@genshards_bot).

2. Process for non-Access Club members 🃏

#DiscoverTheKey

A parallel process will be held for non $GS holders, with a whitelist decided through lottery.

1- Make sure to do some research on the project once we announce it — it will help you #DiscoverTheKey that will unlock the whitelist form ;)

2. The whitelist form would need to be filled correctly to be eligible for the lottery process.

Details will be shared on our Twitter and Telegram channels.

3. Special entry slots 🎁

For $GS GenTicket NFT holders & $GS token hodlers

3a) Gen ticket NFT holders

$GS GenTicket Holders — You get Special Entry slots !

For all the $GS GenTicket holders — we hope you held on to your trump cards ;)

In every GenTicket tier (Black/Gold/Pink/Silver), some lucky holders (randomly selected), will get an allocation in our upcoming pre-IDO !

The allocation size will be as per the same-color Access Club, meaning

  • 1 Black Gen Ticket holder will win an allocation corresponding to the Gen Access Black Club.
  • 2 Gold Gen Ticket holders will win an allocation corresponding to the Gen Access Gold Club.
  • 3 Pink Gen Ticket holders will win an allocation corresponding to the Gen Access Pink Club.
  • 4 Silver Gen Ticket holders will win an allocation corresponding to the Gen Access Silver Club.

📌 Key note — Only one GenTicket per wallet will be eligible for the lottery- meaning you will have the same chances of winning a slot irrespective of the number of GenTickets you hold in the same wallet

Process for $GS Gen Ticket holders 🀄️

There will be two token snapshots taken for Gen Ticket holders (similar to the process for Gen Access Club members) — you need to be holding the NFT in your wallet on both occasions to be eligible for the whitelist

  1. 📌 A whitelist form needs to be filled as a minimum requirement to be considered for the preIDO whitelist (will be shared on our social media channels — Twitter / TG)
  2. 📌 The first wallet snapshot will be taken within 12 hours of the project being announced

2. 📌 A second wallet snapshot will be taken at a randomly selected date & time before the pre-IDO launch

Shortlisted participants will be announced before the pre-IDO launch date

3b) Top $GS token hodlers — Guaranteed Allocation ✅

The top 10 holders of $GS tokens across 2 snapshots will get allocation in the preIDO launch

Process for $GS token hodlers 🀄️

1. 📌 The whitelist form needs to be filled as a minimum requirement to be considered for the preIDO whitelist

Additionally, there will be two token snapshots taken for all token holders -

2. 📌 The first wallet snapshot will be taken within 12 hours of the project being announced

3. 📌 A second wallet snapshot will be taken at a randomly selected date & time before the pre-IDO launch

The top 10 hodlers by average holdings across both these snapshots will get guaranteed allocation for the preIDO

Note : For selecting the top 10 hodlers, bots and company wallets will not be taken into consideration

Shortlisted participants will be announced before the pre-IDO launch date

What happens after the whitelist ? ⏭

  1. The whitelist results will be declared before the launch date.

2. Note that there are 4 categories of shortlisted participants

  • i- Gen Access Club members (lottery winners)
  • ii- Open community members (lottery winners)
  • iii- $GS GenTicket NFT holders (lottery winners)
  • iv- $GS token hodlers (guaranteed allocation)

📌 Shortlisted participants will need to send across their contributions within a certain deadline 📌

3. After receiving the contributions, the pre-IDO project’s GenTicket NFTs (containing the preIDO tokens) will be airdropped to the participants’ ERC20 wallet addresses

4. Once you receive the tickets, you can go to OpenSea and connect your ETH wallet, where you will be able to view the GenTickets — https://opensea.io/

At this stage you will also be able to trade your Gen Ticket NFT on OpenSea. This GenTicket is essentially the project’s pre-IDO tokens wrapped in the NFT !

5. Once the IDO for the project is completed, you will be able to swap your Gen Ticket NFT for the project’s tokens on the GS Web app, as per the vesting schedule for the project.

. . .

That was it about the Genpad whitelist process…and this wraps up Day 6 of Genesis… 🌱

Stay tuned for the biggest update tomorrow ! 🔥

Genpad is coming.

. . .

About Genesis Shards

Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permission-less environment of interchain liquidity for pre-IDO tokens. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens.

Quick Links :

Telegram Announcement | Telegram chat | Twitter | Website

Transforming NFTs into a liquidity vehicle for Pre-IDO tokens and a whole new suite of DeFi products across multiple blockchains.

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