What is Genpad all about ?
Diving into the features of Genpad
Genesis — ‘The First Life’: Day 2/7 🔥
Welcome to Day 2 of Genesis. 💍💍
Yesterday we introduced Genpad 🚀 and discussed how one can access the launches on it.
Today we will dive deeper into the key features of Genpad.
- Pre-IDO launch
- Gen Ticket NFTs
- Gen Swap
- Gen Access Clubs
Pre-IDO launch 🔥🔥
Genpad offers a one-stop launchpad platform 🚀 and a holistic environment for great projects to meet great partners.
With its large network of Access , Ecosystem and Mentor Shards to provide support across various aspects, it can be the perfect launch partner 👥 for a DeFi project.
Something that differentiates Genpad from other launchpads, is that it is an early stage partner for projects in the pre-IDO phase.
Through this partnership, projects will get a supercharged start ⚡️ early in their lifecycle to propel them faster towards success.
Here we also want to highlight that we have some upstream launchpad platforms as strategic partners to Genpad. They can be leveraged by projects to launch an IDO later in their journey, should they choose to do so. More details on the IDO partners to come soon…
Gen Ticket NFTs 🎫
GenTickets are NFT contracts that can be traded on an NFT exchange such as OpenSea . Gen Tickets are redeemable for the project’s tokens once the vesting cliff period is over.
The Pre-IDO market is faced with serious bottlenecks — one of which is lack of liquidity due to the absence of a tradable market. Another major problem is OTC platforms with highly inconsistent practices and the ever-present risk of default from unknown counter-parties 👨🦰🧑
By wrapping pre-IDO tokens into Gen Tickets 🀄 and making them tradable on an exchange, solves the pre-IDO liquidity and credit risk issues.
Now coming to an important note -
Every project that launches on Genpad will have its very own set of GenTickets.
Some of you may remember that GenShards had its own pre-IDO launch through the $GS GenTicket NFTs earlier this month (you may recollect #RememberThePassword and #MyGenTicket).
The limited-edition Black, Gold, Pink, and Silver $GS GenTickets were then distributed to the winners — who could trade their NFT on OpenSea or redeem it for $GS tokens after our IDO.
Similarly — every project launching on Genpad will have its own set of limited-edition GenTicket NFTs with their respective project tokens wrapped within.
Gen Swap 🔄
Gen Swap is our platform enabling swaps of GenTicket NFTs for the underlying project’s tokens .
The platform would connect to your Metamask wallet to enable this swap.
📌 Note that the swapping of NFT for the tokens would only be possible after the IDO for that project, as discussed earlier.
The upcoming version of the Gen Swap would integrate with Genpad and would feature a swap market where users can buy pre-IDO NFTs and Gen Access cards for entry to exclusive Gen Access Clubs. This is scheduled for launch in May 2021.
Gen Access Clubs ♣️
The gateway to participate 🏊♂️ in Genpad launched projects would be primarily through being part of a Gen Access Club.
📌Note: Gen Access Clubs will account for the majority (75%) of the launch allocation, there will also be a smaller allocation for the open community (25%)
You can become a member by being a :
1. $GS token holder
Gen Access Club entry will be enabled by holding a certain minimum number of $GS tokens 💰 for a certain period of time. Details for this were shared in yesterday’s post. There are four different Access Clubs — Black, Gold, Pink, and Silver — details regarding the process for entry will be shared soon.
In addition to these benefits, a few special benefits for longer-term token holders will be announced shortly. 🎁
📌Note — For our upcoming project, this will be the only way to get a chance to participate
2. Gen Access Card holder
Gen Access Cards, once launched, will make the holder a member of the relevant Gen Access Club.
Details on Gen Access cards would be shared later in May.
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This wraps up Day 2 of Genesis… 🌱
Stay tuned for the next update tomorrow ! Genpad is coming.
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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.
Follow Genesis Shards’ developments on: