Genesis Pool to launch its 3rd IDO: ChainGain
A game changing IDO with huge rewards for the GPool OG’s
Genesis Pool (GPool), the decentralized cross-chain launchpad that only launched its own native token last month, is excited to announce its third IDO, ChainGain, a revolutionary borrowing/lending platform with minimum required collateral.
Genesis Pool guaranteed its community 3 unique project IDO’s in quick succession after its own raise only a few weeks back. Today, Genesis Pool is announcing the third project launch, therefore entirely fulfilling their ambitious goal. Many more projects are set to launch on Genesis Pool over the coming months, so investors can fully expect to see explosive growth.
The community of GPool OG’s has begun to see parabolic growth, with double digit percentage increases in community member counts throughout all platforms. Correspondingly, the first IDO immediately exceeded all expectations in terms of price action performance, with the second IDO being surmised to follow the same path.
ChainGain: The revolutionary lending & borrowing DeFi platform
Utilizing the power of smart contracts, ChainGain aims to disrupt the lending market with its unique decentralized platform. Since its inception, the lending sector has fundamentally been built around and for both middlemen and centralized institutions, who have systematically disenfranchised their clients.
For lenders, ChainGain offers a one of a kind peer to peer system, through which they can safely put their assets to work and receive passive income, all while eliminating the looming risk of defaults. For borrowers, ChainGain’s platform allows them to affordably receive cryptocurrency assets, while only being required to provide 15% collateral.
ChainGain IDO tokenomics and timeline
ChainGain will be a unique raise for the Genesis Pool community of investors. We have been able to negotiate a very good deal with quite some benefits for the investors who are holding strong and believe in us and the ethos we are working towards. Genesis Pool has not only been able to secure their Private Round for our community, but also 1% of their entire supply of tokens PLUS an additional 4% of their total supply to be distributed as staking rewards.
While all our GPass holders will be able to reap the 1% rewards from our staking platform, including the other tokens we have in the rewards pool (Glitch, GPool, DePo, Transient, ChainGain, upcoming IDOS), the investors who stake for more than 60 days will receive the additional 4% rewards which would be an APY equivalent to well over 600%. In addition to that, the raise and the token distribution will be facilitated and managed by Genesis Pool itself.
Tokenomics
Private 8%: 8,000,000 CGN @ $0.0725 vested over 3 months
Public 1%: 1,000,000 CGN @ $0.18125 fully diluted
Liquidity Incentives 50%: 50,000,000 CGN will be rewarded to the users providing liquidity on the platform for the long term
Team 20%: 20,000,000 CGN will be locked for 2 years
Operations 10%: 10,000,000 CGN will be announced before being allocated for the expenses
LP Incentives 5%: 5,000,000 CGN will be allocated for the early adopters
Liquidity 1%: 1,000,000 CGN will be allocated for the DEX listing
Marketing 1%: 1,000,000 CGN vested with a 25% distribution for each quarter of 2022
Advisors 4%: 4,000,000 CGN vested over a 12 month period
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Open market price at $0.2175
Sale Details
- Target Raise: $580,000
- Price per token: $0.0725
- Allocation amount: $500-$1000
- Allocation Type: Private Round
- Vesting Periods: 2 week honeymoon then equal distributions for 3 months
Timeline
15th October 11:00 AM UTC: Internal AMA (AMA in the GPool Telegram group with the ChainGain team)
17th October 12:00 AM UTC: Whitelist opens
19th October 12:00 AM UTC: Whitelist closes
21st October 12:00 AM UTC: Round 1 starts
22nd October 06:00 AM UTC: Round 1 ends
22nd October 06:00 AM UTC: Whitelist for round 2 begins
24thOctober 06:00 AM UTC: Whitelist for round 2 ends
26th October 12:00 AM UTC: Round 2 starts
27th October 06:00 AM UTC: Round 2 ends
Whitelisting will take place through the GPool website and further details will be released on how to participate.
Further information regarding ChainGain
ChainGain’s revolutionary use of a smart contract aims to accelerate real world adoption in the crypto space. By cutting out the middleman and any centralized power, ChainGain aims to be the platform of choice for any crypto holder looking to convert their crypto assets into passive income, or any crypto enthusiast looking to borrow assets with minimal collateral.
What makes ChainGain so safe?
Providing trustworthy services is key to the adoption of Chaingain.
In order to secure user’s capital from any risk we have two important pillars:
- Platform algorithm and funding that ensures lenders always get their loan repaid. This is built in the smart contract ensuring collateral always covers the loan value, liquidation mechanism protects from severe collateral value fluctuations. Also, the platform’s reserve funds will be set to further ensure that the loans are always over backed by collateral and reserve.
- Platform security — Code Audits will be triggered periodically to ensure security of the smart contract and frontend on the platform. The simplicity of the product and algorithm also ensures there are less services and layers where attacks could be launched.
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