Token Utility
$GENSX token is only a utility token, therefore it is not used for any transaction payments. $GENSX tokens don’t have any claim rights against an issuer and thus, are not asset tokens. However, $GENSX holders can choose to stake their $GENSX in the Genius X Staking Center to earn extra rewards and platform benefits.
Staking
The $GENSX token can be staked in the Genius Yield staking dApp in order to receive Staking Rewards APY from the distribution of a portion of the fees from two sources:
20% of the Genius X Launchpad fees rewarded in $ADA.
20% of Genius X project tokens earned by the Genius X accelerator rewarded in that project’s native token*, spread out equally over 80 epochs.
*Genius X Accelerator Program earns no more than 5% of a project's native token. Only utility tokens will be part of the redistribution program.
Other benefits of staking include:
Governance — voting power in Genius X Improvement Proposals (GIP)
Participation in the lottery to have a chance to win a powerful NFT.
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