Genie Protocol

Genie Protocol

Genie Protocol GNP Rank #7524

Learn how to buy Genie Protocol (GNP) Token - What it is, price and benefits

Genie Protocol Exchanges

Exchange Market Pairs Buy
PancakeSwap (V2) LTC/WBNB -
The Genie Protocol is a defi protocol for buying token pools or "pools" governed by Genie Dao and is the first protocol to buy native multi-chain token pools or "pools" (BSC and Ethereum at launch). The GNP token is the governance token of the Genie Dao and will be used to decide the evolutions of the Genie Protocol. Genie Dao, through voting, will be able to launch through the Genie Protocol "funds" or a set of ERC20 and BEP20 tokens that the user can buy with a single transaction. The "funds" or sets made up of different tokens (10, 20 or more tokens) will be able to replicate the performance of the most capitalized tokens by category and, therefore, will be "funds" or sets of indices, (for example: top defi , top loans, top nft) or will be managed directly by Genie Dao or by particularly qualified users ("funds or managed pools") and in the future also by a specially trained AI. The funds managed by the users will have a series of limitations to minimize the risk of adverse selection and moral hazard on the part of the executives, on the limits of exposure to certain tokens, which will be stricter the smaller and less capitalized the chosen token. by the manager. Genie Dao can decide, by voting, to remove or harden the aforementioned limits on the choice of tokens by administrators. These "funds" or pools of ERC20 or BEP20 tokens will be made up by interacting with different AMMs such as Uniswap, Pancakeswap, Sushiswap, etc., trying to find the best market price and weighting purchases according to the best conditions. When a user invests using Genie Protocol using BNB or ETH, upon completion of the transaction they will be assigned a token representing their share of the fund that they can use to redeem their investment similar to tokens representing a share of a Liquidity Pool. The token that represents a portion of a fund will be an ERC20 or BEP20 and as such can be freely transferred to a secondary market freely created by individuals. When a user uses Genie Protocol to purchase a "pool" or pool of tokens, a registration fee will be charged. Also, at the time of divestment, the user will be charged a performance fee. Entry and yield fees will be used, in addition to paying the cost of gas, to repurchase tokens from the GNP/BUSD liquidity pool on Pancakeswap and to redistribute purchased tokens to hodlers via Genie staking, creating 4 different staking pools available to gradually distribute PIL governance tokens to the community. The four staking pools will have lock-up periods of 30, 90, 180, and 360 days, distributing multiple tokens for the same amount of time in longer pools. Specifically, considering a period of 30 days for the four pools, for every 100 NLPs allocated in the first 30-day pool, 200 NLPs will be allocated in the 90-day pool, 400 NLPs in the 180-day pool and 800 NLPs in the 180-day pool. the pool of 360 days. Basically, over the same time period, the pools will have these multipliers: x1 for the 30-day pool, x2 for the 90-day pool, x4 for the 180-day pool, and x8 for the 360-day pool. the tokens purchased through the fees generated by the Genie Protocol through the buyback, making the GDP potentially deflationary.