Being a full-fledged DeFi one-stop-shop, Genshiro is here to offer multiple use cases for DeFi-savvy users. Its money market is already active and we plan to launch a spot market with up to 20x leverage, and a new farming mechanic that will let users get more liquidity out of their GENS.
As such, we offer unique opportunities for GENS token holders that are worth highlighting here. Here are some upcoming possibilities for using your GENS liquidity effectively:
- Liquidity farming: the more GENS tokens you hold inside the system, the higher your liquidity farming rewards are, with the potential to grow as much as 100%.
Difficulty mode:
Best deal for: long-term GENS holders with most of their portfolio in GENS
Rollout: next update
- Collateral: users can use GENS as collateral to borrow any asset available on the platform. If you need stablecoins, go borrow them for use in the blockchain of your choice!
Difficulty mode: advanced
Best deal for: any user willing raise liquidity against GENS collateral
Rollout: February
- Crowdloans: this is probably one of the most interesting use cases out there. Users may borrow DOT or KSM using their GENS as collateral, then further use that borrowed liquidity to participate in Polkadot and Kusama auctions, leveraging their exposure to the ecosystem projects.
Difficulty mode: advanced
Best deal for: any user willing to take part in crowdloans; those who opt for loaning DOT / KSM instead of buying
Rollout: DOT is available, KSM is in February
- PancakeSwap / Sushiswap:
When Genshiro appears on the marketplace, put GENS there and get Liquidity Pool tokens that indicate your ownership. Then you can earn from using them on our platform. This means you get two sources of income:
1) pancake commissions
2) liquidity pool tokens (invest in Genshiro and earn interest rate and farming rewards)
Difficulty mode:
Best deal for: users who have any amount of GENS
Rollout: February
- Triple composite use case:
For example, you might borrow EQD stablecoins using your GENS as collateral, then put those stablecoins into the Epsilon automated market maker, and receive Liquidity Pool tokens in return. You can put those Liquidity Pool tokens into the Genshiro money market to earn staking and farming rewards on your liquidity. At the end of the day, you will earn rewards on your Genshiro collateral, you will earn rewards on your Liquidity Pool tokens, and you will earn fees on your EQD liquidity inside the automated market maker. It’s a triple benefit!
Difficulty mode:
Best deal for: experienced Genshiro users aiming to build maximum income of their GENS
Rollout: next update
- GENS-only prediction market: Users can bet on different events and win GENS tokens (like making a bet on the project to win a parachain slot). We are planning to develop more products in which we will accept GENS only.
Difficulty mode:
Best deal for: all the GENS owners who believe in the expertise of their vision and assessments of the situation on the market / in the ecosystem.
Rollout: Q1 2022
- Governance and democracy: all GENS holders have a say in the way they want Genshiro to grow and develop. Users will be able to participate in key governance decisions with their stakes, as well as propose new features in public referenda.
Difficulty mode:
Best deal for: every user with any amount of GENS
Rollout: H1 2022
Still curious? Come on over and try it out firsthand!
More about Genshiro’s vision and plans
Our Kusama-based canary network boasts the catchy and evocative name of “Genshiro,” which literally translates from Japanese as a “nuclear reactor.” Genshiro is a sister network to Equilibrium, currently active in both the Kusama and Polkadot ecosystems. It offers a completely new approach to manage and price on-chain risks within DeFi to serve the needs of the broader community. Genshiro is a cross-chain Kusama-based protocol that helps users seamlessly earn yield, borrow, and trade on margin. It makes use of asset portfolios instead of single collateral vaults.
Genshiro’s ultimate goal is to provide GENS token holders the opportunity to run a decentralized brokerage and insurance business, and it’s already proving effective, running for almost five months straight. Genshiro users continue enjoying exceptional farming rewards and already have access to more than 10 different assets from three different interconnected blockchains (Ethereum, BINANCE Smart Chain, and HECO). They can borrow and lend assets, even trade stablecoins inside a special-purpose Epsilon automated market maker (AMM). What are you waiting for? Try it now!
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