Genius Smart Contract And Token
Genius crypto currency is a new cryptocurrency solution developed by founder and crypto-expert Robert Genito that aims to address the question of whether a store of value can be programmed. This asset, which took five years of research and development to create, has significant implications for the worlds of money, transactions, and computing. It is designed to be virtually impervious to day-trading and market fluctuations.
To succeed in the crypto market, it is necessary to have a deep understanding of the blockchain assets being used, which requires both financial and technological knowledge. Additionally, the use of multiple decentralized finance (DeFi) applications is essential. However, not everyone has this knowledge, and people are seeking simpler and more secure ways to store, protect, and increase their value. The Genius Smart Financial Contract is designed to meet these needs, providing a secure and user-friendly solution.
Throughout history, governments and financial corporations have attempted to create financial products that offer similar benefits. The emergence of the blockchain has made it possible to create such assets, and many blockchain assets have attempted to do so. The Genius Smart Financial Contract builds upon the successes of these predecessors and has learned from and corrected their mistakes.
Genius can be compared to several existing assets and tools in conventional finance and investing:
- Banking Certificate of Deposit: Genius operates like a “Certificate of Deposit” on the blockchain, with the user having full control and algorithms on the chain (a basic form of artificial intelligence) influencing the reward structure.
- Stock & Dividend Model: Genius is also similar to a stock with a dividend payout, but unlike a stock that typically pays dividends in the nation’s currency, Genius distributes its “dividends” in Genius.
- Central Banking: Genius resembles central banking in some ways, but instead of using complex and secretive tools like quantitative easing to issue inflation, Genius consistently issues inflation only to miners/stakers, rather than benefiting those at the top of the financial system. Genius is a decentralized banking system that truly serves the people.
Genius is designed to reduce human corruption and biased bureaucracy. It is the first hyper-yield A.I. blockchain Certificate of Deposit that aims to appreciate in value. It can be used by end users to generate passive income.
Technically, Genius is an immutable Ethereum-, PulseChain, and Binance Smart Chain-based smart contract,
Genius is a staking or mining token that has multiple features to help preserve and grow value over time. These features include:
- Unique math based on natural ratios of the universe.
- Multiple staking policies, also known as “mining” rules.
- An AI algorithm that monitors user commitments to adjust mining rewards in response to commitment changes.
- An auction function that allows users to bid on fulfilling others’ commitments, potentially receiving a reduced entry point or higher ROI, while also providing liquidity to those who would otherwise need to break their commitment.
- In-contract liquidity.
- The Genius token can be used to store value and generate passive income through “Genius Mining”. This process is similar to Bitcoin mining, but does not require expensive equipment or large amounts of electricity. Instead, it is built on multiple layer 1 blockchains with lower barriers to entry and better security. To participate in Genius Mining, users simply need to hold Genius tokens and create a commitment, or “miner”, for a chosen number of days.
Behind the scenes, the contract’s math and programming logic ensure that user commitments are fulfilled by lowering rewards for advanced miners and implementing blackout periods where basic miner commitments cannot be ended early. Genius is effectively monetizing time, attention, and dedication to commitments over time. To encourage a healthy economy and provide users with liquidity, there are tools in place to allow users to transfer their mining commitments to others. It is believed that the auction system will be useful for preserving commitments, providing necessary liquidity, and removing incentives for negative market manipulation of the Genius token asset.
Where does Genius’ value come from?
Genius is a cryptocurrency designed to provide a store of value that can be used by anyone, regardless of their financial or technological knowledge. The team behind Genius has spent years researching and developing this cryptocurrency solution, which has the potential to revolutionize the way we think about money, transactions, and computing. By leveraging blockchain technology, Genius has created an asset that is virtually impervious to day-trading and market fluctuations, providing a stable and secure way for people to store and grow their wealth.
In addition to the traditional factors that contribute to the value of a financial asset, such as market demand and the underlying tools, time, and resources required to create it, Genius also values two things that are uniquely scarce and valuable to humans: attention and intention. By incentivizing users to “lock away” their value for a specific period of time, Genius is effectively monetizing the time and dedication of its users. This helps to create a positive and healthy financial market, where value is preserved and rewarded to those who make and fulfill their commitments.
Ultimately, the value of Genius also derives from the larger cryptocurrency market and its ability to squirrel away value over time. By being deployed on multiple layer 1 blockchains, Genius is able to tap into the security and liquidity of the broader crypto ecosystem, while also providing a valuable service to its users. With its focus on objective value, community, and the inherent scarcity of human attention and intention, Genius is well-positioned to become a leading player in the world of cryptocurrency and beyond.
Liquidity Provider Registry
Genius is a cryptocurrency that is still in the pre-launch stage. To support the launch, a registry of liquidity providers has been established. These providers contribute between $10,000 and $100,000 to help ensure that there is sufficient liquidity for the token. So far, more than 70 liquidity providers have signed up for this program. In addition to these providers, there are also a number of exchanges that will be participating in the launch of Genius. When all of these providers and exchanges are combined, it is expected that there will be millions of dollars of liquidity available for Genius. If you are interested in becoming a liquidity provider for Genius or learning more about decentralized finance, you can join the official Genius chatroom on Telegram. To request to be added to the private group, you will need to mention that you learned about this opportunity from the white paper.
Private Whale Miner Registry.
The Private Whale Miner Registry is a group for individuals or institutions interested in making a significant contribution to the Genius ecosystem. To join, individuals should contact an administrator in the main Genius chatroom at https://t.me/genicrypto. There are a limited number of spots available in the private whale miner group. Interested parties are encouraged to reach out to learn more and join the group.
How To Acquire Genius Crypto.
There are several ways to obtain the Genius token and shares of the Genius reward pool, or “IQ-Shares.” These include purchasing the token on a decentralized exchange, trading time and services, or “mining” for Genius by holding time-based shares.
- To purchase Genius on a decentralized exchange, you will need to own the native token of the blockchain network and have a web3 account. Acquire Genius token on:
Binance Smart Chain: https://geni.to/binance
Polygon (MATIC): https://geni.to/polygon
Avalanche (C-Chain): https://geni.to/avalanche
- To trade time and services, visit the “Genius Proposals” chat room for more information. https://t.me/geni_promo
- To mine for Genius, you can buy IQ-Shares, which are locked up in a “Genius Miner” and rewarded with GENI tokens daily.
The number of days that the shares are locked up, or the “Promise Days,” is chosen by the user when purchasing the IQ-Shares. There are various units of IQ-Shares, including Q-Shares, T-Shares, B-Shares, and M-Shares.
- 1 IQ-Share = 1 Quintillion Shares (1,000,000,000,000,000,000 Shares, or 1018)
- 1 Q-Share = 1 Quadrillion Shares (1,000,000,000,000,000 Shares, or 1015)
- 1 T-Share = 1 Trillion Shares (1,000,000,000,000 Shares, or 1012)
- 1 B-Share = 1 Billion Shares (1,000,000,000 Shares, or 109)
- 1 M-Share = 1 Million Shares (1,000,000 Shares)
Genius Crypto Tokenomics 101
Genius is a new cryptocurrency that has a few key features that make it unique. There will be a total of 240 billion Genius tokens, and an additional 14.5% of that amount, or 35 billion tokens, may be created from holders of the Legacy GENI contract. Each year, about 4.236% of the total number of Genius tokens will be added, or “inflated,” and distributed to people who are “mining” Genius tokens.
The smallest unit of Genius is called a “Genito,” and one Genius token is equal to 1 billion Genitos.
Genius will be available on Ethereum, PulseChain, and Binance Smart Chain.
Users can also create a type of mining called “Collateral Miners,” where they deposit other assets as collateral in order to earn a return. The value of Genius may also be affected by deflation mechanics, which occur when users modify their “Incentive Promise” or make changes to their mining rewards.
Initial Token Distribution.
The initial supply of Genius will be airdropped to Sacrifice participants. A total of 240 Billion (240,000,000,000) Genius Tokens will be distributed at the initial token distribution. For more information about the Sacrifice Phase, visit the website for the official Sacrifice event: https://sacrifice.to
Warning: the information contained on the Sacrifice event website is completely independent and unrelated to the Genius tokenomics explained in this white paper. Any information derived from the Sacrifice website is not applicable, and should not be considered to be applicable, to any information contained within this white paper.
No tokens were distributed freely to founders, developers, marketing, or anyone of the like.
Throughout the entire lifecycle of developing Genius’s ecosystem, there has been a strict policy within the Genius founders and community members to not distribute any pre-launch tokens or official tokens for any reason. Even for individuals that were paid by the community, the community agreed to remit payments with any other currency other than any tokens related to Genius.
This was done out of principle and to prevent any claims that Genius could be a “rug pull”. Simple put: this community policy was put forth to give Genius the best ecosystem health possible. In response, anyone who received any tokens related to Genius had burned their supply.
The distribution of the Genius token was done in a few different ways. Some of the tokens were given to liquidity providers who promised to pair them with other cryptocurrencies on a platform called Uniswap v2. The remaining tokens were burned, which means they were destroyed and could not be used anymore.
Later on, a sacrifice phase was announced, which allowed people to get the initial tokens without having to pay high fees to trade for them on a decentralized exchange.
When the Genius DAPP was launched, anyone who participated in the sacrifice phase could claim their tokens.
Additionally, holders of the Legacy GENI token could use those tokens to create Genius Miners, which would eventually allow them to receive the official Genius token after a certain number of days that they specify within the DAPP.
Legacy Genius (LGENI).
The Legacy Genius (LGENI) token is a special type of token that was available before the official Genius token was released. LGENI holders can participate in a special event called the “Sacrifice” to receive the initial distribution of the official Genius tokens. To receive the best bonuses during the Sacrifice,
LGENI holders should use the Uniswap or Pancake Swap exchanges to exchange their LGENI for other cryptocurrencies. It’s important to note that LGENI is not meant to be traded for profit, but is instead a way for users to receive the official Genius token.
The Genius Smart Financial Contract can also issue a type of debt called Genius debt, which can be used to stabilize the value of the Genius token. However, this debt is not meant to be traded and may never enter the accounts or liquidity pools of end users.
Pumpamentals are mechanisms designed to increase the demand for Genius tokens and limit the selling pressure on the market.
These mechanisms include:
- Genius Mining: requires the use of Genius tokens, which are locked and kept out of circulation until the end of the Promise Period committed by the user. The more miners end early, the more their performance rewards are redistributed to remaining miners, increasing the value of their shares.
- Shares for Performance Earnings: the price to acquire shares increases over time, and users who end mining early must create a new miner with all of their Genius principal and performance earnings, requiring them to serve a longer Promise Period.
- Blackout Days: advanced miners are locked out of ending their mining for the first 180 days, ensuring that the tokens remain out of circulation.
- Sending Miners to Auction: in order to bid on the miner, users must use the circulating supply, taking their bid out of circulation. Auctions always begin at an economical price, encouraging new buying.
- Winning of Auction: the coins are still locked and the new owner carries out the remainder of the auction.
- Stability Pool: issuing debt creates a temporary “floor” for the price and backs Genius with collateral, while settling debt or clearing debt increases the open-market buying pressure.
- Collateral Miners ending with penalties on the principal or ending at the original “debt issue rate” remain in the Stability Pool, increasing the price of Genius.
- Stability Pool: the price increases by at least 1.85% every 360 days, creating a one-way buying pressure on the open market.
- Proof of Benevolence on Collateral increases the price by the amount of collateral added to the pool.
Burnamentals are actions that decrease the supply of Genius tokens and reduce the ability to satisfy current demand. Here are the ways that burnamentals decrease the supply of Genius tokens:
- ~23.6% of all Early End Miner and Late End Miner penalties incurred remain in the “burnt supply”.
- Auctions: the first bid is guaranteed to remain in the burned supply (~9% of the Miner’s principal), and an additional ~61.8% of the winning auction remains in the burned supply.
- For each bid that is outbid, 0.01% of the bid remains in the burned supply.
- On-Chain Donations and Future-Proofing: Proof of Benevolence and Proof of Exodus remove supply.
The Genius OA (Origin Address).
The OA, or Origin Address, is a designated address within the Genius Smart Financial Contract that receives a portion of penalties and excess bids from Transfer Auctions, not exceeding 14.5% of the total amount. The OA is also able to claim bonuses that were lost due to the “Minting from Legacy GENI” functionality being used beyond Genius Day 4. However, the OA does not receive any Genius tokens at the time of launch.
The Stability Pool, rather than the OA, receives fees which are at least 1.6% of all collateral released after the settlement of Genius debt. This serves to financially benefit all end users within the Genius ecosystem and acts as a pumpamental within the tokenomics. Any remaining collateral in the Stability Pool after all Collateral Miners have ended is given to the OA, although this is considered highly improbable and infrequent.
The OA can protect itself from the “wrench attack,” in which a hacker physically attacks the owner of the OA to gain access, by granting the ability to change the OA Grantor or OA Beneficiary address to another account. This functionality also exists to future-proof Genius.
The Genius “Origin Address” is a feature of the Genius Smart Financial Contract that receives a portion of penalties and excess bids for Transfer Auctions. It can also claim bonuses lost due to the “Minting from Legacy GENI” functionality. The Origin Address (OA) does not receive any Genius tokens at launch and is limited to certain actions that do not pose a threat to the security, tokenomics, or value of Genius. The OA has two separate accounts: the OA Grantor and the OA Beneficiary.
The OA Grantor has the ability to:
- Designate or change the OA Beneficiary Address
- Initiate, pause, and resume the Stability Pool’s acceptance of new collateral
- Begin accepting Hexodus requests by initializing the Hexodus contract
- Grant end users of the HEX smart contract the ability to mint a Genius Miner in exchange for burning a valuable HEX stake (Hexodus)
- Initialize the GENFT Controller contract
- Assign GENFT New Edition contracts
- Deploy GENFT Royalties to the OA Beneficiary
The OA Beneficiary has the ability to:
- Automatically receive GENI grants from the Genius Smart Financial Contract functions
- Transfer GENI to any other account
- Claim GENFT Royalties accumulated by NFT marketplaces such as OpenSea
The OA Beneficiary and Grantor are not bound to any rules or expectations, but if they use their resources for the benefit of the Genius ecosystem, it may also benefit themselves and/or others. This is intended to make Genius more decentralized, trustless, and resilient to censorship. The OA Beneficiary and Grantor were selected anonymously from a list of account addresses posted in a Telegram chat room prior to the Genius Launch. The identity of the OA is unknown. The OA Grantor was determined by a private group of individuals.