Transforming NFTs into a liquidity vehicle for Pre-IDO tokens and a whole new suite of DeFi products across multiple blockchains.
IDO or Initial Liquidity for DEX exchanges is quickly becoming the method of choice for token distribution and capital raising. With the end of an IDO event, there is a flow of liquidity into the token.
However, during the Pre-IDO period, the lack of liquidity due to the absence of a tradable market created congestion for its projects and its supported network as a whole.
Most of these Pre-IDO transactions are currently done on platforms or forums that are scattered and hard to find for casual investors. Even if you do find one — you still face a lack of liquidity, making large volume transactions difficult.
The biggest problem, however, is the highly inconsistent OTC transaction practices for Pre-IDO tokens, where these transactions are typically performed by two parties in an uncertain environment with risk. high defaults.
The problems facing projects and their respective communities are an inspiration for us to create
Genesis Shards — the first marketplace for Pre-IDO tokens on NFT.
1. What is Genesis Shards?
- Genesis Shards is a decentralized ecosystem powered by Polkadot, aimed at creating liquidity for tokens in the pre-IDO phase.
2. NFT 2.0: NFTs pioneering DeFi options
- Crypto season 2021 is seeing a quantum leap in the recognition of the value of “NFT” or irreplaceable tokens. NFTs are rapidly becoming a popular asset class soon.
- What gives these tokens value? They are exclusive and irreplaceable — and therefore have a demonstrable digital scarcity. This gives them the value of “Collectibles”. Some NFTs are trading for hundreds of thousands of dollars… The popular NFTs are ‘CryptoPunks‘ and ‘NBA TopShot‘.
- However, a few, if any, NFTs have any add-ons. What if the NFT could have the utility of DeFi options on their collectible value?
- Genesis Shards — aims to pioneer the Defi NFT space reimagine the NFTs as the Defi options, from just collectibles.
3. Genesis Shards — Bringing the OTC Market?
By bundling time-locked replaceable tokens into the NFT, Genesis Shards is creating a new marketplace for previously insoluble tokens.
This opens up a whole new universe of possibilities! Investors will no longer have to worry about shady OTC transactions with high risk of default: they can simply use the Pre-IDO liquidity provided by Genesis NFTs. Projects, on the other hand, can capitalize on the initial liquidity of the tokens provided by the platform and build strong community support from the outset in their journey while at the same time gaining a feeling of search. price devaluation.
In essence, Genesis Shards is all about the NFT beating the OTC market and creating an NFT space that never existed before.
- “Crowdsourcing’’ exaggerates
Communities play an important role in cryptocurrencies, and stronger communities are often an important component of successful projects.
Genesis Shards’ Pre-IDO Liquidity Market provides a one-stop environment for projects to meet excellent partner networks. It also allows them to build a diverse and engaged community base from the outset in their journey — allowing for a better understanding of the wisdom of the crowd.
- Rejuvenate cross-chain liquidity
As discussed so far, we plan to tackle the Pre-IDO liquidity issue. But beyond that — we intend to solve this problem for tokens across multiple blockchains. To achieve this, we will partner with Polkadot and Moonbeam.
While Genesis as a platform will have its own liquidity engine, we see tremendous value in partnering with Polkadot’s existing cross-chain architecture for inter-chain communication. Robustness-compatible Polkadot Parachains will allow the Genesis Shards ecosystem to take Pre-IDO tokens from various low-liquidity blockchains, connect them to Gen NFT, and be traded on bar pools Genesis grants. This will also allow projects to take full advantage of the internal and external liquidity of their original chain.
We will also use Moonbeam for our relays. Moonbeam is a ‘Parachain‘ on Polkadot ’smart contract, for ERC-1155 tokens that enables compatibility with Ethereum smart contracts.
In addition to cross-chain communication, Polkadot and Moonbeam will enable faster transactions while also reducing gas costs on the Genesis exchange.
4. The core team
- Garlam Won : As a former Harmony CMO, Garlam is also behind markeing some of the top projects in the Defi and NFT spaces.
- Nilotpal Mukherjee : Nilotpal heads the Sales Department at Marlin Labs and is a personal contributor to the company’s early growth. He started his career as an investment banker with Deutsche Bank where he worked on transaction structuring, pricing, and IPO processes.
- Jae Chung : Sukkrstar blockchain engineer of GS. Known as the developer behind the launch of the EOS mainnet, …
5. The Partners and Investors
Genesis Shards raised $2.7 million from big companies such as: 3Commas, OKEx’s Block Dream Fund, LD Capital, Spark Digital Capital, Momentum 6, Solidity Ventures, BlackEdge, Morningstar, BitBloc, Blocksync, Chain Capital, X21, Astronaut Capital, Moonrock Capital, Moonwhale Ventures and so on.
6. Other information
- Token $GS : It is the ecosystem’s native utility token. It is an ERC20 token issued on Ethereum and can be swapped for elements like Gen Access. It also plays an important role in the governance of the Genesis network.
- Gen Access : The Gen Access card is “entry-level’’ into the Genesis Shards ecosystem. They allow the holder to obtain a Gen Ticket. Different NFT tokens grant different permissions — from Gen ticket size to administrative effect.
- Gen Tickets : Each “Gen Ticket” will have a different amount of Pre-IDO token inside. The tickets themselves can be traded on NFTX — or they can be redeemed for tokens after IDO, at the time of the token generation event.
- Gen NFTX : This is a market for DeFi products from the Genesis Shards ecosystem. It has the ability to subdivide the NFTs to swap segments.
- In short, Genesis Shards is built on NFT swaps providing a one-stop environment for great projects for meeting great partners and a secure NFT powered exchange interface for Pre-IDO liquidity. and community involvement.
- With the use of Gen swapping, NFT segmentation, community governance, and multi-functional NFT exchanges, the Gene ecosystem provides an opportunity for organizations and partner communities to build a symbiotic environment of vocality. Pre-IDO accounts.
Telegram ANN: https://t.me/genshardsANN