Airdrop
This page describes Genius' season 1 airdrop campaign
Season 1 Airdrop Guide
Overview
Genius Season 1 rewards entitle users to a total of 70,000,000 $GENIUS tokens, via the Genius Foundation.
Core Mechanism
There are two ways in which you can claim your airdrop
Early claim penalty
There is a 7 day claim window. If you choose to unlock your allocation right now, you will incur an automation burn penalty of 70%. For example, if you have 100 $GENIUS tokens and you choose to claim right now, you will lose 70 of your $GENIUS tokens and will only receive 30 $GENIUS tokens. The 70 $GENIUS tokens will be permanently burned.
1 year lock up
You have another choice that does not incur a penalty. You simply do nothing and allow the airdrop claim window to pass. After this point, your token allocation will be locked in a smart contract for 1 year. This will entitle you to 100% of your allocation, without any burn mechanism in place. 100 $GENIUS tokens will be 100 $GENIUS tokens a year later.
Refund
The Refund option allows you to burn 100% of your $GENIUS token allocation in exchange for the fees collected by Genius. You can claim this for 48 hours after TGE.
Your funds will appear within 48 hours past claiming.
We must be extremely clear on two points for how Genius fees are calculated.
We are refunding net fees, not absolute fees. We have already actively paid out more than 7M USD in cash-back to our trading community and over 1.3M in referral rewards to our traders. We are calculating the net fees that you paid the terminal AFTER these fees have already been deducted. If you have already claimed cash-backs and referrals, these will not be double counted.
If you executed a trade, and the total fee was 20 basis points, of which 15 basis points were charged by the underlying DEX (for example, Pancake Swap), and only 5 basis points were charged by the Genius Terminal, we can only refund you for the 5 basis points. We have no ability to collect fees from external parties. This is impossible and any FUD that is being spread around Genius not refunding fees in their entirety will be shut down immediately. The fee you paid us is distinct from the fee paid to underlying providers. This is simply the reality of how the terminal and aggregator business model works.
If you believe we have made a mistake in our refund calculations, you will be able to dispute this in a dedicated Google form, after the first week post TGE.
Why this structure?
The answer is simple: longevity. If you're long-term aligned that Genius is building something of true value, then you will have no problem accepting that the developers of the terminal and its associated products are not going anywhere. There is a highly ambitious roadmap to eat most of DeFi on BNB Chain and beyond, and there is no incentive to reward mercenary actors. The explicit goal is to curate a community of users who are here in a sincerely aligned way.
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