Genshiro’s Kusama Crowdloan Goes Live On June 15!

Genshiro’s Kusama Crowdloan Goes Live On June 15!

By Equilibrium | Equilibrium | 11 Jun 2021


As the Kusama parachain auction starts next week, we are closing the whitelist for our Genshiro PLO today, June 11. The actual crowdloan itself will go live on June 15, so it’s coming right up! Users will be able to vote for Genshiro to receive a parachain slot by staking their KSM — participating users will be able to get up to 1,500 GENS for each KSM they contribute plus a substantial bonus.

Crowdloan details

We intend to win eight six-week leasing periods for our Kusama parachain slot. Participants will be able to stake KSM to our parachain starting from June 15, and they’ll earn rewards in GENS tokens during the parachain lease period. We will distribute 240 million GENS tokens (20% of the total supply) as rewards to incentivize KSM holders to vote for Genshiro to receive a parachain slot.

Users will get 1,000 GENS for every KSM they contribute, but there is opportunity to earn additional bonuses. We’ll describe them in detail now.

There are three types of bonuses available for participants:

791e4263bcc64135413497021a5bbe52bb97367e4036dcc10b64b19277a26a23.png

Allocation bonus

There is an allocation bonus, so the more you stake, the more GENS you get. You can earn up to 50% more GENS as a bonus!

bc9a502b07cc703ee3e967d59a3f5d70d63a7953797bc44fa6a9c35e775204e7.jpg

This table shows how much GENS you will get per staked KSM.

cd2c293e9131cfabf7283dafb565818278e2e6460047a2c69079176bb3495f6e.png

Bonus for early participation

To incentivize early voting for Genshiro, we decided to allocate additional bonuses depending on how early users contribute their KSMs to support Genshiro. Bonuses for early participation look as following:

e60a76525f918447a7fa7d69705c1b98721e33a04abe433f62898a005a235531.png

Scaling for winning the slot

There is the last but not least opportunity to boost up your GENS allocation. Your early participation bonus can be scaled if we win the earliest auction.

47da2e0444fe1530b9ff689fcb10b672dd52d8a0d56e0d77a1f9ce240cef06aa.png

Here is how the bonus structure clearly looks on the chart:

c13a8dbb948c0ffc6f9ea5fdaa58f6c6b6593159bcb8ba2efe0d7cba4fa73744.png

GENS distribution

GENS tokens will be distributed to crowdloan participants linearly over the course of the 48-week slot lease duration. That means that contributors will be able to claim some part of their GENS every day during those 48 weeks, and they can take their KSM back after the leasing period concludes.

Referral program

Want to earn more GENS? You can also join our referral program to collect a 5% bonus on every Genshiro PLO contribution via your referral link. You’re eligible to join the program until June 14, so hurry up and register here!

So get excited and get ready! The Genshiro crowdloan is getting ready to kick off and we’re excited to have our community along for the ride. Vote for Genshiro to receive its parachain slot right here starting on June 15!


Follow us:

Website | Twitter | Telegram | Facebook

How do you rate this article?


115

1

Equilibrium
Equilibrium

The first decentralized interoperable money market that combines pooled lending with synthetic asset generation and trading. Get access to cross-chain liquidity.


Equilibrium
Equilibrium

The first decentralized interoperable money market that combines pooled lending with synthetic asset generation and trading. Get access to cross-chain liquidity.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.