Are you ready for round three of Genshiro’s crowdloan? The next batch of Kusama auctions has started on October 23, and there’s an immense amount of 150 million GENS up for grabs for those who get involved. This is huge! There are more than 15 million USD worth of rewards to be distributed at current GENS prices.
❗️This campaign is a special one. We have decided to put the entire GENS allocation in the hands of our supporters. No matter how much Kusama it takes to win the slot, the entire chunk of GENS (less bonus allocation) will be evenly distributed among all crowdloan participants in proportion to their KSM stakes.
We believe that at the current stage of the auction process 50,000 KSM stake should be enough to secure a slot, however we won’t set the entire campaign cap that low, and if Genshiro ends up collecting more KSM than it is actually needed to win the slot, we will consider increasing the entire crowdloan allocation to keep GENS rewards attractive.
Of the 150 million GENS, 30 million are designated for guaranteed bonuses that you can receive by staking your KSM in support of Genshiro. We want to make sure our community has the latest numbers on how we’ll be rewarding and incentivizing their participation in our crowdloan. Here’s the breakdown of these additional rewards:
- 1,000 GENS per KSM for contributions over 500 KSM.
- 500 GENS per KSM for everyone who previously participated in the first and/or second rounds of Kusama auctions
- 6% bonus for referral program participants (3% for referral + 3% for referrie)
KSM downside protection
Here’s another important feature of our campaign: we will fix the price of KSM at the beginning of the campaign, and the GENS distribution will kick in if KSM price ends up below that point at the end of the parachain lease. The actual amount of tokens to be distributed will be defined as a proportion between their actual allocation and the price drop compared to the initial price, divided by the whole range that we are insuring.
GENS furthermore has upside potential, so we are highly confident in participants being protected against downside risk during the crowdloan.
So if Genshiro wins a slot on Kusama in this batch of auctions, each crowdloan participant will be fairly rewarded for his or her support. We will split the allocation among them without any leftover GENS.
Bid for Genshiro’s parachain via polkadot.js now!