Genesis Shards partners with DeFi staking-based prediction protocol, TotemFi
We’re excited to announce that TotemFi will be an Ecosystem partner for projects on Genpad 🚀
TotemFi is a Decentralised Finance (DeFi) prediction platform which offers Bitcoin and native token rewards. TotemFi’s vision is to create an accessible, minimal-risk platform that tokenises the ability to predict future asset prices and events.
The protocol harmonizes incentives for individuals and the collective, as both sets are rewarded for their ability to forecast the future price of a given cryptocurrency. In addition, users are not penalized for inaccurate predictions. The aim is to broaden participation with the protocol as incumbent markets are typically complex with high financial risk for inaccuracy, which acts as a barrier to entry.
The protocol provides high yields for participation by coupling guaranteed staking returns alongside favourable bitcoin and native token rewards with a focus on incentivising both early adoption and rewarding long-term engagement with the project.
Through this partnership :
- 📌 Projects in the Genpad pre-IDO ecosystem would be able to use totemFi’s prediction platform for a wider audience reach. They will also be able to open stake pools on TotemFi.
- 📌 Projects and partners on TotemFi can gain access to pre-IDO liquidity through wrapped NFTs on Genesis Shards via Gen Tickets.They will also be able to benefit from Genesis Shards’s comprehensive network of strategic partners including access, ecosystem and mentor partners.
More than 25 high-quality access, ecosystem & network partners have already placed their trust in GS and the network continues to grow each day! Keep an eye out for this space as we continue a #MarathonMay and head into an even more explosive June with a plethora of launches,partnerships and other exciting announcements lined up!
“TotemFi is building Staking-based prediction markets for the crypto community and we are pleased to partner with them. Projects on Genpad will be able to participate on their platform through this partnership and gain exposure to prediction markets”
- Nilotpal Mukherjee, Genesis Shards Co-founder
“We are thrilled to partner with Genesis shards.I am confident that upcoming projects on Genpad will find our platform appealing! This partnership will provide an opportunity for projects on our platform to benefit from GS’s high-quality partner network”
- Jolyon, TotemFi CEO
TotemFi provides a decentralised application (dApp) that combines staking returns and high yield BTC rewards for individual and collective participation in prediction markets. The simple and low-risk prediction model aims to improve accessibility by not penalising user’s principal stake for inaccurate predictions.
About Genesis Shards
Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless 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.
The next major steps in Genesis’s journey will be announced soon ! Keep an eye on this space for updates.
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