Genesis Shards GS Price $ 0.0104

Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless environment of interchain liquidity for pre-IDO tokens. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens.

The Role of the $GS Token

The $GS token is the native utility token of the Genesis ecosystem. The token gets used for Genesis Access, Genesis NFTX, and plays a significant role in Genesis network governance. The various roles of $GS token in Genesis ecosystem:

Gen Access

• $GS Tokens are required to be swapped for Genesis Access NFTs to be a part of the Genesis network. Based on the number of tokens held access tiers are decided to enable different access rights to its users.

Gen NFTX

• $GS token is the native token on the NFTX platform allowing users to benefit from a reduction in Swap fees for tickets, access cards or Gen smart contracts.

Gen Governance

• $GS tokens would provide governance rights to its members where they can vote on different proposals within the ecosystem. The number of tokens held would be a representation of voting power within the network.

NEW TOKENS

• Illiquid tokens due to various reasons including interfering with IDO plan

NFT WRAPPERS

• NFT wrapped liquid tokens that isolates circulating tokens. Enabling early price discovery and launchpad style crowd-sourced exposure

IDO

• NFTs containing Pre-IDO tokens to be swapped for Post-IDO tokens