We are pleased to announce our next AMA on March 30th 2021 at 03:00 PM UTC Time: Satoshi Club x Genesis Shards
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Genesis Shards Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Genesis Shards Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Genesis Shards
For more details:
Genesis Shards – @genshardsANN
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
What are the plans to prevent the project from rugpull
Based in DeFi’s analogy, what would be the mechanism to handle a high operation flow?
Can you please explain more about how Genesis Shards Combines DeFi with the NFT market? what is the role of DeFi in it and what trading options will be provided to your users?
Most IDO platforms will claim that their platform offers a solution that minimizes scam / rugpull. As an IDO platform, is there a solution from Genesis Shards to minimize rugpull?
One thing that intrigued me about Genesis Shards is the fact that usually, NTFs are built and powered by Ethereum, but I noticed that Genesis Shards’ NFTs are power by Polkadot, can you tell us more about this and why did you decide to be powered by polkadot? What kind of technology did you use to create your NFTs? And what benefits will you get from this?
While looking at your website I saw on Gen Shard Ecosystem part something that I couldn’t find anywhere else, this something is called “Gen Safts”, can you tell us more about it? What are they and what functions does this Gen Safts have on Gen Shard’s platform, and how their roles benefit both your users and Ecosystem?
I read on your newest Medium article about how the Genesis ecosystem will have a coterie of partners: Genesis Access shards, Genesis Ecosystem shards, Genesis Mentor shards. Can you tell us more about this partnerships and what roles do they have within Genesis Shards’ platform? What are the differences between this three categories and the partners on each one of them? Also how many and what partners will you have on each of this categories, and how do you assign them to one specific category?
By entrying to the Genesis Shards ecosystem it allows holders to acquire GEN TICKETS, I saw on your website that this tickets can be swapped for post-IDO tokens, so this is the only way to reward your token holders? Can this tickets be traded directly for currencies or NFTs?
I don’t really understand the sequence of your ecosystem utilities, there are PRE-IDO tokens, NFT WRAPPED tokens, Gen ecosystem, GEN NFTX and POST-IDO options, in all these, where is the utility of your native $ GS token? Where does the investment start and where does it end? In what phases do you reward your investors?
You mentioned in your official Twitter headline that Genesis Shard is one of marketplace for pre-IDO tokens on NFT. But then goes to pioneer DeFi and NFT space. So how will Genesis Shard combine both NFT and DeFi? is there a plan like NFT on staking or farming on the platform?
What is Genesis Shard strategy that involving community? Does Genesis team create infrastructure themselves or include community as the outsourcing?
The goal is to provide DeFi projects with the highest potential, with the best possible support from the start. To achieve the vision, they have decided to bring in a group of strategic partners that will help the Genesis ecosystem to function effectively and sustainably at scale. Can you define what are the membership circles and their various approaches?
To seek out the most promising projects out there, you will need to scale your ecosystem and have as many eyes on the lookout as possible. Who is in charge of conducting this study? Does everyone have access to these study snippets?
Once a project is in the ecosystem, it will require the best possible support in terms of community participation, social media outreach, mentoring, etc. Is this where ecosystem partners and mentor partners would play a crucial role?
A Genesis Access Shard partner is a partner entity (institution / individual) whose role would be to bring the most promising early stage DeFi projects into the GenShards network. Where are these shortlisted projects sent? What functions does Genesis Ecosystem and Mentor Shards provide?
I am interested in becoming a Genesis Access Shard member. Where should I direct this application and what is the process that I must follow to be accepted?
Genesis Shards is built on top of NFT exchanges and aims to provide a unique environment for large projects to meet great partners, build an engaged community base and get crowdsourced hype early in their life cycle. Could members of the Genesis community with access card holdings gain access to the tickets at the early stage? Does this also apply to VC?
The DeFi feature of Genesis Shards of wrapping timelocked fungible tokens into NFTs, a function that can create a new market for previously illiquid tokens. Do you have projects that showed interest on having their tokens undergo wrapping and test this program?
Genesis Shards announces the Mentor Shard program. What are the requirements to be included in the Mentor Shard program? Is it necessary to have social media accounts with plenty of followers to participate in this program or is it enough to have technical knowledge in the DeFi field?
Genesis Shards has successfully completed our fundraising rounds and provided the support of many large investors. Exactly how much funding did you get on this funding round? The communities want a transparent structure and to be informed about all kinds of issues. For what purposes will this collected financial resource be spent and will you transparently share the information of the expenditures with your community?
The Genesis pre-IDO liquidity solution and DeFi option products have their primary NFTs or non-fungible tokens. What different features does the NFT market present for DeFi options in Genesis Shards? How will Genesis Shards transform NFTs?
Robustness-compliant Polkadot parachutes will enable the Genesis Shards ecosystem to take pre-IDO tokens from various low-liquidity blockchains, wrap them in Gen NFT, and trade in Genesis-enabled liquidity pools. As a result of this strategy, how will they allow projects to take full advantage of the internal and external liquidity of their native chains? What does the Moonbeam consist of and what is the application use of its relays?
The DeFi space today faces a severe shortage of options to safely trade pre-IDO tokens. Most of the operations in the pre-IDO phase are carried out through the ‘OTC’ (no prescription) mode. This brings challenges for both the projects and their community. What solution tool does Genesis Shards offer where the investor can not worry about the different executions of the operations prior to IDO?
Genesis Shards aims to solve the problems faced by DeFi projects and communities in the pre-IDO space by creating the first market for pre-IDO tokens in NFTs. So what are these problems faced by projects and how will you solve these problems? What can we expect your solutions to contribute to the development of the NFT industry?
Genesis Access Shard partners can bring a project they promised and / or invested at an early stage into the Genesis ecosystem, bringing them into the limelight. Firstly; By what criteria will you identify Genesis Access Shard partners? A person / organization may have invested early in any project, but this does not confirm that it is definitely a good project. Latter; How will you filter these projects? Will a person or organization be a Genesis Access Shard partner enough to bring every project they want to the ecosystem?
From your Medium article: “The Genesis ecosystem will have a group of partners in one of 3 segments:
(Genesis Access parts, Genesis Ecosystem parts, Genesis Mentor parts)”
I have read your article completely, but I do not fully understand why you made this distinction and what you are aiming with this bee? Will there be candidates for 3 segments and what qualities will you classify these partners?
One of the problems with NFT tokens is that they are for completely collectible use, preventing them from expanding their operation, that is why Genesis seeks to add another additional function to NFTs, in order to use all the existing potential in DeFi?
Why did you decide to call the project “Genesis”? Is there a story behind the name of the project or any inspiration or reference? Did you adopt the name Genesis referring to the biblical stories?
Is it really necessary for an NFT to provide all the liquidity required for an IDO project to keep it blocked for life? or just until the presale lasts? Or will I have to sacrifice the NFTs for new tokens?
I understand that it is totally innovative to use NFTs as vehicles for liquidity in Pre-IDO, but can it really only be implemented in pre-IDO? Do you think that soon Genesis Shards will be able to use the NFTs for greater exchanges and greater uses?
What is your vision regarding the current market for NFTs and what vision do you have of the market for next year? Do you notice a remarkable growth in the NFTs market?
You mentioned that they could create a new market for “previously illiquid” tokens, but could you really explain more about those “illiquid” tokens? Are they those that have not yet come to the market and therefore do not have liquid or what?
On your website I could only find your Telegram channel and your Twitter account, don’t you have a post on Medium with information about the project? By the way, I couldn’t find your whitepaper either, haven’t you released the whitepaper? Where can interested users find information about Genesis Shards?
These NEW LIQUID CHIPS planning to develop Genesis Shards and in turn create a whole new market, could they be directly related to the value and characteristics of already known projects, coins and / or tokens? Or is it all new?
Many mention that NFTs have great potential, but many projects only use it as collectibles, and now you who will implement it to create a new market for previously illiquid tokens, but is that all that can be achieved with NFT? or does it still have potential for more?
In all the time that I have known in blockchain, the first time I hear the term “Pre-IDO tokens”, by which you mean tokens that have not yet been pre-sold and have not been released, right? or does it really have other additional features?
In this new market for previously illiquid tokens, will they have high gas consumption as in the Dex markets of ETH? or really how much would be the fees to pay? and will all of them be paid in $ GS?
If I’m not mistaken Gen NFTX has the ability to fragment NFTs for fractional exchanges, how is this possible? Is it possible to split an NFT? By splitting an NFT does it lose its authenticity and validity?
About the Genesis Shards token ($ GS), this is the native Genesis Shards token? What is the use of the platform? Can users provide liquidity through staking? Can we find more information about the $ GS token on CoinGeko or CoinMarketCap?
Can you tell us a little about Gen Tickets? What is your function? How can we get Gen Tickets? What are the requirements to obtain them?
NFTs are the latest boom trend in DeFi, and Genesis Shards is redefining what it would mean to DeFi, considering the massive popularity NFTs have won lately, what are the issues with thos type of tokens according to Genesis Shards point of view, and how are they getting solved in your ecosystem?
How successful have your funding rounds been according to your expectations, and what is the destination of the funds reached until now in the development of Genesis Shards?
As an investor, it is good to find out the advantage and benefit I will gain on the project as well as the lowest risk. What can Genesis convince for my investment?
Genesis Shards has been able to create a new an innovative means of liquidity provision by wrapping timelocked illiquid tokens into NFTs thereby making them seen not only as collectibles but as DeFi options. Such NFTs thus wrapped, are they exclusively minted on the Genesis ecosystem or do users and investors have the option to import some of their personal and exclusive collectibles to undergo similar processes on your ecosystem?
The GEN NFTX which is the marketplace for DeFi products specifically those coming out of the Genesis Shard ecosystem will ultimately have a wide variety of unique NFTs. Will such NFTs have the ability and functionality to be deployed across multiple chains and provide same unique functionality as originally created?
Just recently, you delightedly announced LD Capital and AU21 Capital as Genesis Shards Access Partners. So as an Access Partners, may we know what they will help to bring into your Ecosystem? Also how will the both projects and the users benefits from this great partnerships?
If we genuinely want to have a future in these markets,we must create the products that will allow us to be carried into many years to come. So what are GENESIS best products & services that you think will lead you to your huge success in the near future?
Your vision is to transform NFTs into a liquidity vehicle for pre-IDO tokens and a whole new suite of DeFi products across multiple blockchains. So how will Genesis Shards capitalizing the NFT hype to provide liquidity solutions for pre-IDO tokens?
Talking about the Gen ecosystem, how can users exchange their tokens and NFTs within the GENESIS SHARD ecosystem, could you explain me what are the positive features and benefits of this exchange, wouldn’t the fees be really high when dealing with wrapped NFTs and high gas rates ?
Genshards is a project based / powered on Polkadot. But what is the expedient reason for deciding to rely on Polkadot and not Ethereum or other chains with perhaps more versatility? What are the positive features that Polkadot brings to Genshards? And what are the advantages Polkadot offers over tokens and NFTs within Genshards?
On your website you mention that tokens are wrapped by NFTs, but can you explain to me how it works and what are the salient features when wrapping a token by an NFT ? Aren’t a token and an NFT totally different things ? What are the different uses that would be given to this combination ?
About your Gen Tickets I have two questions why is variable the amount of pre-IDO tokens they have inside? and what functionality do these Tokens have ? I could see that you have 3 tokens ,Gs token ,pre-IDO token and post-IDO token , these really confuse me
Tell me about Gen NFTX How is it possible to fragment NFTs ? what are the benefits of fragmenting them ? Don’t you lose the essence of what an NFT is? The name itself says it “non fungible tokens”.
Bringing the scalability of NFTs and blockchain into ETH has become so popular in creating innovations like the one Polygon L2 has.But by incentivizing users with this solution, which is what GENESIS SHARDS is looking for in Polkadot, such a strong protocol but at the same time. Maybe not so mature in development but based on its DOT associations, it is building a product capable of solving problems with the NFTs about what problem or is it only to sell art and in general for all chains and IDO that think Launch what is the concept What do you offer about NFT marketing in this abstract paradigm?
According to your twitter,NFT is currently serve only as collectibles. By using the Genesis Shards,NFT swap architecture, they can also serve as DeFi options. This unlocks a plethora of new possibilities in DeFi. If currently NFT is only for collectibles,with Genesis Shards how will be NFT be more valuable as Defi Options?
Genesis aims to be a marketplace for PRE-IDO tokens on NFTS. To be honest I am a little confused at the meaning behind this phrase 🙂 Could you please tell us what differentiates pre-ido tokens from post-ido tokens and how will NFT help in your vision? Thanks!
Could you please explain the Genesis’s idea of NFT wrapping liquid tokens? CeFI and DeFi usually does not care what exact coin instance is used in transaction, does NFT imply Genesis wants to track exact instances of tokens used?
Genesis has a very interesting idea of being able to shard NFTs for fractional swaps. Could you please explain the use cases where this system will be useful? Will this system be cross-chain portable in the future? Thank you!
As I watch a video lately in from the famous blogger in Facebook “Nas Daily”,there was a man from South India who bought an NFT art which cost $70million dollars,his reason in buying it is he wants to support creators around the world, so my question is how will Genesis Shards give value to NFT? NFT is only in a Virtual world,so why people must consider buying NFT? With decentralized finance, how NFT will be more valuable and usable in the market?
Genesis Shards aim to provide DeFi projects with the highest potential with the best support possible early on. Are you confident that you can help projects collect funds for their development? What will happen if the DeFi projects you are promoting failed to gather enough funds through sales?
By wrapping time-locked fungible tokens into NFTs, they can be reimagined to serve as DeFi options. How can a token wrapped into NFTs suddenly serve as a defi option? What is Genesis Shards program that can help these wrapped NFTs serve its purpose?
Genesis community members with Access Card holdings would be able to get access to early-stage entries in some of the best-vetted projects in the DeFi space.
What kind of card is it, how can I get it, and what privileges does the owner of such a card have?
The biggest lack that the Non-fungible tokens have are the poor uses cases and low liquidity to them, so I have understood that Genesis works with NFTs, so can you tell us how fix this intrinsic limitation?
Reading about your token I have understood that you have an hybrid architecture using the $GS token and the GEN tickets, so can you explain how is the interaction of this both tokens?
Now there are so much DEFI project which have feature like Lend & Borrowing, NFT also other DEFI features and I feel its repeated and boring. So what new innovation that Genesis Shards project will bring to Crypto world and DEFI?
I understand that Genesis Shards is a marketplace for tokens on NFT. So can you explain how important are the community for your project and how did you try convince make your community and investor keep interest with Genesis Shards project?
1. Hello Sir
I read on your medium that recently Genesis Shards has partnered with PolkaFoundry to help bring a much wider range of DeFi projects building on Polkadot, into the Genesis ecosystem and to provide them with Pre-IDO liquidity solutions. Having the vision to facilitate growth, investment, and adoption in blockchain innovation, which will be the aspects on what Genesis Shards and PolkaFoundry’s collaboration will focus on?
2. You have announced on the 26 of March on your Medium that Genesis Shards has partnered with Polygon (formerly Matic) to increase the scalability of Gen Tickets (NFTs) on the Genesis platform through Polygon’s L2 solution! What does Genesis Shards aim through this partnerships? With a surge of DeFi protocols being built on Ethereum, transaction times and fees have been skyrocketing – how can assure a low fee environment and reduce block time confirmation? Is it a long-term partnership or just for some development features?
After read in your medium, I don’t understand the correlation between ‘Gen Access’, ‘Gen Tickets’ and ‘Gen NFTX’. Could you explain how are all these system work together in your platform? What are the connection with Pre-IDO tokens?
3. As you describe yourself, Genesis Shards aim to provide DeFi projects with the highest potential — with the best support possible early on. To achieve the vision, as I read on your medium, you have decided to bring on a group of strategic partners who will help the Genesis ecosystem function effectively and sustainably at scale. The Genesis ecosystem will have a coterie of partners in one of the 3 segments: Genesis Access shards, Genesis Ecosystem shards and Genesis Mentor shards. Can you describe, please, what are the criteria that would establish a partner in one or another segment? And what is the role of each group-partner in the Genesis ecosystem?
Each GEN TICKETS will have a different number of Pre-IDO tokens. What will the number of tokens depend on?
I read that Genesis Shards partnered with Polygon recently. Since Polygon aims to provide solutions for DeFi and Ethereum scalability, can you tell us what are the main goals of this partnership? What do you expect to improve or solve with the help of Polygon?
Gen Tickets are the first DeFi option product on Genesis Shards platform. Can you explain more about the functionality of these Gen Tickets? I read that Genesis Shards will be the first project to use them with the Genesis Shards Pre-IDO tickets, so this will be your token sale? When can we expect news about your tickets?
The Gen Tickets can be traded on your Gen NFTX exchange or can be exchanged for the IDO tokens at the time of TGE. But can you explain further about the advantages of both options? I mean, which one would be the best option and in what cases?
My opinion that many people watching this AMA see Genesis Shards is a high quality project.
Could you tell me about the team project, How big are your team? Is it public or anon team ?
What are the minimum requirements for me to get on the Waitlist Form? For example, if I have 500 USDT, can I apply? And what is the approximate income as a percentage of that amount for the year I can get?
What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?
Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?