Genshiro

About The Project

Links:

Website

Twitter

Telegram

Medium 

 

Genshiro is an Equilibrium's canary network, a cross-chain protocol that allows users to generate passive income by providing liquidity as well as generate stablecoin, borrow cryptocurrencies. It also allows margin trading on a decentralized exchange. The project operates with portfolios of clients' assets instead of separate collateral repositories. Genshiro is a testing ground for future Equilibrium products before they are deployed to Polkadot.

The following experimental features are provided for users:

- More comprehensive range of crypto assets compared to Equilibrium;

- Lower minimum collateral ratio (only 105%);

- Curve AMM;

- DEX with spot market and derivative futures contracts.

There are two leading roles in the system: borrowers and lenders.

  • Borrowers can borrow cryptocurrency and generate stablecoin. Margin trading of crypto and synthetic assets is also available. A borrower pays a floating interest rate, the amount of which depends on the risk of his portfolio and the leverage.
  • Lenders can stake crypto assets and receive interest rates from all borrowers. It is a reward for a borrower's risk of liquidation. In the event of liquidation, the borrower's collateral and debt are distributed among the lenders in proportion to their share in the total pool of lenders.

How It Works

Genshiro is developed based on Substrate in the Kusama network and smart contracts on different blockchains (Ethereum, Binance Smart Chain) connected by bridges that act as non-custodian liquidity pools. This approach ensures the interconnection between these pools and integrates them into a decentralized lending platform with advanced interest rate mechanisms.

Team

Alex Melikhov (CEO) - Founder. He has co-founded companies such as Changelly (a cryptocurrency exchange), Oxygen trade and EOSDT. He has a Master's degree in Applied Mathematics.

Yves Renno (Lead Analyst) - has significant experience in traditional finance. MSc in Statistics and Financial Modeling (Paris) and an MSc in Financial Mathematics (University of Chicago).

There are also several other people in the team with extensive experience in their respective fields.

 
Specialists from Parity Technologies consult the project.
 
This company was founded by Gavin Wood, a leading developer of Polakdot / Kusama / Substrate.

Eric Wang - Head of Ecosystem Development at Parity Technologies. Former partner at Bica Capital. BSc from UCLA and MSc from Stanford.

Joe Petrowski is a Senior Research Analyst at Parity Technologies. Former engineer at Lockheed Martin & Boeing. BSc in Aerospace, Aeronautical and Astronautical Engineering.

GENS Token

GENS token will operate as a multipurpose token in the Genshiro ecosystem.

Specifically, GENS acts as Genshiro's internal currency in several system components:

- Governance token, which allows its holders to express their opinion on the state of the system and ensure the implementation of management decisions through votes;

- Validators / Collators are rewarded with GENS tokens for launching blockchain nodes and performing parallel work (for example, off-chain);

- Users pay transaction fees in GENS tokens;

- Borrowers pay interest in GENS tokens;

- The system distributes rewards in GENS tokens for users' liquidity;

- GENS can be used as financial aid and liquidity support in liquidity pools.

 

Investors and Partners

They raised $ 5.5 million in the Seed round in September 2020.

In April 2020, they raised 250 000 DOTs as part of the 1st phase of Equilibrium PLO.

Additionally, in March 2021, they raised $ 2.5 million.

The list of investors includes KR1, Signum Capital, Hypersphere, Okex BlockDream Ventures, Genesis Block Ventures, CMS Holdings, AU21 Capital, Digital Finance Group, PNYX Ventures, FBG Capital, LD Capital, Crasolum Ventures, Inclusion capital, Czhang's Digital Investment.

The project has many partnerships:

Orakly: Chainlink, Bluezelle, Band Protocol.

Validators: Ryabina, Huobi Pool.

Ecosystem partners: Moonbeam, Kylin, MathWallet, Quantstamp, RockX.

DeFi projects: Stafi, Reef, and Curve cooperation.

Cross-chain bridges: RenVM, Interlay, Chainsafe.

Tokenomics

The team has fixed the ratio of GENS tokens to EQ tokens at the level 10 to 1. The total initial supply of GENS is 1.2 BILLION tokens, provided that the initial supply of EQ is equal to 120 million EQ.

- 45% Lockdrop for EQ Holders. The initial distribution among EQ holders is proportional to their holdings

- 5% EQ Staking Bonus. Additional rewards for those who participated in the lock drop

- 15% Reward for liquidity providers in the Genshiro network

- 20% Kusama Crowdloan. Reward for voting for Genshiro at parachain auctions

- 15% Treasury. Coverage of extreme losses in case of force majeure events

Given the distribution of tokens described above and the mechanics associated with rewarding users through blocking and additional bonuses for staking, the distribution of tokens will take place evenly over 2 years.

Expected number of GENS tokens in circulation for a period of 2 years

Crowdloan:

  • 20% of tokens (240 million GENS) are allocated for parachain auctions on Kusama;

  • Genshiro will aim to win the slot for all 8 periods and reward users accordingly;

  • Initial distribution: 2000 GENS for 1 KSM.

Additional bonuses:

  • Users who contribute >50 KSM will receive a 20% bonus or 2400 GENS for 1 KSM in total.

  • For referral program members, a 3% bonus is provided, both for referrals and for those who follow their link and stake KSM for Genshiro.

  • Doubled rewards for the previous round will be given to all participants who voted for Genshiro in the first and second rounds of parachain auctions.

  • Moreover, the team provides a special bonus for contributors over 500 KSM. For more information, you need to contact the team ([email protected]).

Distribution mechanics:

  • 10% of the tokens will be distributed immediately after the successful winning of the slot; the rest of GENS will be in linear vesting during the slot rental period (48 weeks).

 

Conclusions

Genshiro, as a cross-chain protocol, allows users to generate income, borrow and use margin trading. Each ecosystem, in our case Kusama, needs this.

The team includes MSc and BSc in the field of financial mathematics, as well as people with significant experience in the field of cryptocurrencies, development, etc. It can potentially show the success and reliability of Genshiro. Consultants from Parity Technologies are also considered to be a great advantage.

Chainlink, Band Protocol, Moonbeam, Curve are among the project partners.

Considering all the abovementioned, we can conclude that the project is very likely to become a part of the large Polkadot / Kusama ecosystem.

 

Genshiro

About The Project

Links:

Website

Twitter

Telegram

Medium 

 

Genshiro is an Equilibrium's canary network, a cross-chain protocol that allows users to generate passive income by providing liquidity as well as generate stablecoin, borrow cryptocurrencies. It also allows margin trading on a decentralized exchange. The project operates with portfolios of clients' assets instead of separate collateral repositories. Genshiro is a testing ground for future Equilibrium products before they are deployed to Polkadot.

The following experimental features are provided for users:

- More comprehensive range of crypto assets compared to Equilibrium;

- Lower minimum collateral ratio (only 105%);

- Curve AMM;

- DEX with spot market and derivative futures contracts.

There are two leading roles in the system: borrowers and lenders.

  • Borrowers can borrow cryptocurrency and generate stablecoin. Margin trading of crypto and synthetic assets is also available. A borrower pays a floating interest rate, the amount of which depends on the risk of his portfolio and the leverage.
  • Lenders can stake crypto assets and receive interest rates from all borrowers. It is a reward for a borrower's risk of liquidation. In the event of liquidation, the borrower's collateral and debt are distributed among the lenders in proportion to their share in the total pool of lenders.

How It Works

Genshiro is developed based on Substrate in the Kusama network and smart contracts on different blockchains (Ethereum, Binance Smart Chain) connected by bridges that act as non-custodian liquidity pools. This approach ensures the interconnection between these pools and integrates them into a decentralized lending platform with advanced interest rate mechanisms.

Team

Alex Melikhov (CEO) - Founder. He has co-founded companies such as Changelly (a cryptocurrency exchange), Oxygen trade and EOSDT. He has a Master's degree in Applied Mathematics.

Yves Renno (Lead Analyst) - has significant experience in traditional finance. MSc in Statistics and Financial Modeling (Paris) and an MSc in Financial Mathematics (University of Chicago).

There are also several other people in the team with extensive experience in their respective fields.

 
Specialists from Parity Technologies consult the project.
 
This company was founded by Gavin Wood, a leading developer of Polakdot / Kusama / Substrate.

Eric Wang - Head of Ecosystem Development at Parity Technologies. Former partner at Bica Capital. BSc from UCLA and MSc from Stanford.

Joe Petrowski is a Senior Research Analyst at Parity Technologies. Former engineer at Lockheed Martin & Boeing. BSc in Aerospace, Aeronautical and Astronautical Engineering.

GENS Token

GENS token will operate as a multipurpose token in the Genshiro ecosystem.

Specifically, GENS acts as Genshiro's internal currency in several system components:

- Governance token, which allows its holders to express their opinion on the state of the system and ensure the implementation of management decisions through votes;

- Validators / Collators are rewarded with GENS tokens for launching blockchain nodes and performing parallel work (for example, off-chain);

- Users pay transaction fees in GENS tokens;

- Borrowers pay interest in GENS tokens;

- The system distributes rewards in GENS tokens for users' liquidity;

- GENS can be used as financial aid and liquidity support in liquidity pools.

 

Investors and Partners

They raised $ 5.5 million in the Seed round in September 2020.

In April 2020, they raised 250 000 DOTs as part of the 1st phase of Equilibrium PLO.

Additionally, in March 2021, they raised $ 2.5 million.

The list of investors includes KR1, Signum Capital, Hypersphere, Okex BlockDream Ventures, Genesis Block Ventures, CMS Holdings, AU21 Capital, Digital Finance Group, PNYX Ventures, FBG Capital, LD Capital, Crasolum Ventures, Inclusion capital, Czhang's Digital Investment.

The project has many partnerships:

Orakly: Chainlink, Bluezelle, Band Protocol.

Validators: Ryabina, Huobi Pool.

Ecosystem partners: Moonbeam, Kylin, MathWallet, Quantstamp, RockX.

DeFi projects: Stafi, Reef, and Curve cooperation.

Cross-chain bridges: RenVM, Interlay, Chainsafe.

Tokenomics

The team has fixed the ratio of GENS tokens to EQ tokens at the level 10 to 1. The total initial supply of GENS is 1.2 BILLION tokens, provided that the initial supply of EQ is equal to 120 million EQ.

- 45% Lockdrop for EQ Holders. The initial distribution among EQ holders is proportional to their holdings

- 5% EQ Staking Bonus. Additional rewards for those who participated in the lock drop

- 15% Reward for liquidity providers in the Genshiro network

- 20% Kusama Crowdloan. Reward for voting for Genshiro at parachain auctions

- 15% Treasury. Coverage of extreme losses in case of force majeure events

Given the distribution of tokens described above and the mechanics associated with rewarding users through blocking and additional bonuses for staking, the distribution of tokens will take place evenly over 2 years.

Expected number of GENS tokens in circulation for a period of 2 years

Crowdloan:

  • 20% of tokens (240 million GENS) are allocated for parachain auctions on Kusama;

  • Genshiro will aim to win the slot for all 8 periods and reward users accordingly;

  • Initial distribution: 2000 GENS for 1 KSM.

Additional bonuses:

  • Users who contribute >50 KSM will receive a 20% bonus or 2400 GENS for 1 KSM in total.

  • For referral program members, a 3% bonus is provided, both for referrals and for those who follow their link and stake KSM for Genshiro.

  • Doubled rewards for the previous round will be given to all participants who voted for Genshiro in the first and second rounds of parachain auctions.

  • Moreover, the team provides a special bonus for contributors over 500 KSM. For more information, you need to contact the team ([email protected]).

Distribution mechanics:

  • 10% of the tokens will be distributed immediately after the successful winning of the slot; the rest of GENS will be in linear vesting during the slot rental period (48 weeks).

 

Conclusions

Genshiro, as a cross-chain protocol, allows users to generate income, borrow and use margin trading. Each ecosystem, in our case Kusama, needs this.

The team includes MSc and BSc in the field of financial mathematics, as well as people with significant experience in the field of cryptocurrencies, development, etc. It can potentially show the success and reliability of Genshiro. Consultants from Parity Technologies are also considered to be a great advantage.

Chainlink, Band Protocol, Moonbeam, Curve are among the project partners.

Considering all the abovementioned, we can conclude that the project is very likely to become a part of the large Polkadot / Kusama ecosystem.