Liquidity management protocol and automated Decentralized market maker Genius Yield announced its ISPO or the initial stakepool offering. This process will be open till June 15 the next year. already 95.8M ADA with a valuation of around $118M were delegated within 48 hours.
Genius Yield has been built on the Cardano (ADA) blockchain. Blockchain enthusiasts in ISPOs delegate the cryptos and exchange receive tokens as rewards of the project that they fund. This is in place of receiving systematic ADA staking recompenses, meant for the developers.
In an ISPO such as the Genius Yield, investors can claim the staked cryptos whenever they desire. Through this technique, investors succeed in harvesting yields and are also assured that the initial investments are secure. This is possible as the pool operators have no control over the funds that have been delegated.
In Genius Yield’s ISPO, a user can delegate their personal ADA from the Cardano wallet, like Yoroi. This delegation is done into any 1 of the 4 GENS stake pools. In exchange, they receive their GENS token. The funds don’t ever leave the wallet of the delegator.
Genius Yield Confirms 10% Tokens To Be Distributed Among Ispo Users
Genius Yield’s developers have confirmed that out of the total of 100M GENS tokens, 10M will to distributed among ISPO investors. They will additionally receive transaction fees of 20% on this platform.
The funds will be as ADA staking payments that will go to developers. It’ll be utilized partly for building a resolution that will help users gain from better algorithmic trading tactics. It will also help them optimize yield on the platform. Genius Yield co-founder said that a community-fuelled mentorship and educational program is being built by the platform.
Co-founder Dr. Sothy Kol-Men said they believe that knowledge begets power. It is the reason that they have gone for the programs. It is meant to support everyone towards financial freedom.