Topic: [ANN] [GEN] Genesis Coin | Deflationary Currency | Stable | 1.5% Burn Rate (Read 315 times)

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GEN/ETH https://trade.cryptlocex.com/exchange/?market=GEN2_ETH


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CoinGecko Price/Metrics Tracking: https://www.coingecko.com/en/coins/genesis-coin

Genesis (GEN) is a deflationary (self-destructing) token, operating on the Ethereum main-net. It has been designed according to the ERC-20 token standard. The total originating supply of Genesis is 200 million (200,000,000) tokens, as enforced and fixed by the smart contract. It has a deflation or burn-rate of 1.5% (or 0.015) per transaction, since deflation is an intended characteristic of the token.

Genesis burns 1.5 tokens over a transaction of 100 tokens (1.5% or 0.015 deflation rate). This self-destructive functionality makes the asset’s supply scarce over time, thus solving the problem of token velocity or increasing supply for an asset, which is a detriment factor in the increase of an asset’s worth. The token is divisible up to 8 decimals, ensuring the asset’s life well into the future and increasing usability. No new tokens can ever be minted and the supply can only decrease from now on.

Genesis (GEN) is a deflationary project with emphasis on stability and development of use cases – a problem which plagues majority of crypt-projects especially deflationary tokens. It’s an open-source, decentralized and verifiable project with community participation. Our proprietary smart contract combines an extremely high supply of tokens (200m) with normal burn rate of 1.5% to ensure that the token supply doesn’t run out with heavy usage, after some time. Compared to other deflationary tokens, our token is intended for long term stable usage.

We intend to develop actual use-cases, including but not limited to 1. Integration with e-commerce platforms 2. Branded wallet application for multiple platforms 3. E-gaming and betting platform to promote usage of our proprietary token.