75 million ADA already delegated in Genius Yield’s stake pools a day after ISPO launch
After successfully raising $4.2 million in its seed round, Genius Yield is now launching its Initial Stake Pool Offering (ISPO).
More than 75 million ADA ($100m) have already been delegated into the now four dedicated stake pools – a record number when it comes to similar projects on Cardano.
To earn additional GENS tokens and a limited edition Genius NFT, Genius Yield is also running a Bonus Reward Program. The ISPO will last exactly six months and reward 10 million GENS in total.
“We launched two pools two weeks ahead of the start of our ISPO and started seeing incredible numbers really fast,” said Dr Lars Brünjes, Genius Yield’s CTO and Director of Education at IOHK – the company building Cardano.
“We added two more as we were nearing the launch to avoid saturation. While we’re confident in our team and what we’re building, seeing our community rising to the occasion by delegating so much so early is encouraging. It means that what we’re trying to achieve really resonates with people.”
Genius Yield has opened two new rewards pools – GENS3 and GENS4. New investors should not delegate to GENS1 anymore as it’s already fully saturated. New delegators will not earn GENS rewards while earlier delegators will not be affected. GENS1, GENS3, and GENS4 pools reward 100 per cent in GENS, while GENS2 rewards 50 per cent in GENS and 50 per cent in ADA. The maximum capacity of each pool is 64 million ADA.
Users will be able to deposit the tokens of their choice and customise their investment strategy based on a number of factors – expected returns, fees they’re willing to pay, risk tolerance, when to take profits, and so on.
The team behind the project is also working on launching its Genius Yield Academy in the coming weeks.
“We believe knowledge is power, hence why we’re building a community-driven educational and mentorship platform that teaches DeFi concepts and supports everyone in their journey towards financial freedom,” explained co-founder Dr Sothy Kol-Men.