Crosschain DeFi One Stop Shop | Genshiro | Altcoin Gems #23

Gate.io Altcoin Gems #23: 

"Money never sleeps. Thanks for tuning in."

On November 22, 2021, Kusama announced the conclusion of the 15th parachain slot auction with Genshiro as the winner. 10% of tokens has been distributed immediately upon a successful crowdloan campaign, the rest of the GENS will be vested linearly over the course of slot lease duration (48 weeks).

Genshiro is a Canary network to Equilibrium. Just like Kusama is a canary network to Polkadot, new products on the Equilibrium blockchain are to be tested on its canary network – Genshiro. 

The Polkadot-based DeFi project Equilibrium includes a currency market and a cross-chain DEX platform. Genshiro, on the other hand, is a Kusama-based DeFi one-stop shop with the promise to do everything that the current DeFi primitives can do, but has lesser risk and cross-chain support.

Genshiro Official: https://genshiro.equilibrium.io/

Genshiro consolidates various functions and products of the DeFi world — such as lending, synthetic assets, margin trading and decentralized exchanges (DEX) — into a single platform. Genshiro also enables cross-chain interoperability, which bridges blockchain networks, creates opportunities for multi-currency DeFi tools, and enables users to transfer funds between various blockchains with little to no friction.

There are 10 GENS tokens for every 1 EQ (Equilibrium’s native token). So given the EQ initial supply of 120 million, the total GENS supply on Kusama is 1.2 billion tokens. According to its token distribution, 45% of GENS goes to Lockdrop to EQ holders; 5% goes to EQ Staking Bonus; 15% goes to Liquidity Farming; 15% goes to Treasury and 20% goes to Kusama crowdloan rewards.

Gate.io Podcast Español: https://www.buzzsprout.com/1917596

Gate.io Podcast Türkçe: https://www.buzzsprout.com/1917610

*Disclaimer: The information presented in this podcast is for informational purposes only, and not financial advice in any way. Trading cryptocurrencies comes with high risks, so make sure to do your own research before committing your capital to any investment.

Music: BGM (Pixarbay)

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