What is Genesis? Genesis is a Liquid Restaking protocol that allows users to earn additional profits from retaking ETH or Liquid Restaking Tokens. So let’s find out what’s special about Genesis through the article below.
Genesis Overview
What is Genesis?
Genesis is a Liquid Retaking protocol that helps users earn additional profits by Retaking ETH or LSTs and unlocking liquidity through Liquid Retaked Token genETH. Genesis allows users to freely choose Node Operators, Validators, and AVS. With Genesis, users can profit from Ethereum Staking and EigenLayer Restaking.
In addition, users can continue to optimize profits by bringing genETH into DeFi with countless activities such as liquidity provision, Lending & Borrowing, Yield Aggregator or Derivatives.
Highlights of Genesis are:
- Heightened Security: Protocol supports multi-signature wallets, implements on-chain monitoring and analytics, and regularly undergoes security testing. All of that leads to lower risk and faster response to threats and vulnerabilities.
- Better UX: It allows users to choose their own Node Operators, Validators, AVS, which leads to better network security, and lower fees.
- Higher Yield: This provides an opportunity to expand the market while still increasing profits.
- Defi Composability Enabled: Genesis allows users to earn additional profits through Restaking while preserving asset liquidity. Using genETH is an opportunity for users to earn more profits in DeFi while still gaining profits from Restaking.
- Scalability: Reward generation on LST is more scalable (LST support is a planned feature of GenesisLRT) than interest generation on protocols on Layer1s.
- Maintained Liquidity: Ensuring the liquidity of assets.
Development Roadmap
Q1 2O24
- Completed Seed and Private funding round with $3.0M (FDV $30M). This amount of money can allow the Team to operate for 2 years and pay for services such as Marketing, Audit, Research.
- Expand to other Layer 2s using Restaking.
- Deploy Genesis governance token (GEN).
- 2nd audit.
- Develop flash unstaking and on-chain insurance.
Q2 2024
- TGE and airdrop for early participants.
- Develop Bridge + Extract restaking rewards + Auto-compounding.
Q3 2024
- Develop Omnichain Liquid Restaking Token.
- Developing Restaking Marketplace (rNFT) – modular LRT.
- Continue research and development based on Eigen Layer.
Core Team
Update…
Investor
Currently, the project has raised $3.0M through 2 Seed and Private rounds.
Tokenomics
Token Allocation
- Liquidity Incentives: 48.5%
- Team: 15%
- Private Sale: 10%
- Seed: 9%
- Protocol Rreserve: 6%
- Advisory: 6%
- Marketing: 3%
- Pre Seed: 2.5%
Token Use Case
The project’s Native Token Gen will be used as follows:
- Governance: Protocol governance through delegated voting issues such as participating in the selection of the best node operator on EigenLayer to increase rewards for retaken assets and general protocol governance.
- Voting: Select Validators, Operators, and AVS during the Restaking process. In addition, pools with the most votes will receive more GEN allocated to that pool.
Exchanges
Update…
Project Information Channel
- Twitter: https://twitter.com/Genesis_LRT
- Website: https://www.genesislrt.com/
- Discord:
Summary
Restaking is a major market narrative in 2024, with rapid expansion around the Eigen Layer. Hopefully through the article, everyone has an overview of what Genesis is.
