Original title: Genius Uplink Rules: TGE, 70% button, or lock for one year for full

Original by Asher, Odaily Daily Planet

Another counter-problem has emerged

Following the last update of the total supply of coins by air of 21 per cent (comprising three seasons: Season 1, Season 2, Season 3, 7 per cent each). Yesterday, YZi Labs invested " tens of millions of dollars" in updating the Season 1 air drop file by Genius, a consultant to the CZ Coalition. According to the latest, TGE will issue a total of 7.0 million GENIUS tokens, with early users receiving two types of them:

• TGE CHOOSES TO APPLY IMMEDIATELY:THE IMMEDIATE RECEIPT PERIOD IS SEVEN DAYS AFTER TGE, AND IF THE USER CHOOSES TO RECEIVE IT IMMEDIATELY, 70% OF THE TOKEN WILL BE AUTOMATICALLY DESTROYED. FOR EXAMPLE, A USER WHO CLAIMS A TOTAL OF 100 GENIUS TOKENS AND CHOOSES TO RECEIVE THEM IMMEDIATELY WILL LOSE 70 GENIUS, EVENTUALLY ONLY 30 GENIUS AND THE REMAINING 70 GENIUS WILL BE PERMANENTLY DESTROYED

• TGE CHOOSES A ONE-YEAR LOCKDOWN FOR:A CHANGE OF CLAIM IS NOT PUNISHABLE, AND THE USER IS NOT REQUIRED TO PERFORM THE TASK, PENDING THE CLOSING OF THE AIRDROP-RECEIVING WINDOW. THEREAFTER, USER TOKEN QUOTAS WILL BE LOCKED INTO SMART CONTRACTS FOR ONE YEAR. FOR EXAMPLE, A USER RECEIVES A TOTAL OF 100 GENIUS TOKENS AND CHOOSES TO COLLECT THEM AFTER A YEAR IN A LOCKDOWN, WHICH WILL RESULT IN 100 GENIUS。

According to the official Telegram update, Genius explains that this air drop distribution programme is intended to provide both exit routes for users who do not care about the long-term development of the project and rewards those who stay and truly believe in the product。

Genius, official interpretation of air drop rules

AND MORE INTERESTINGLY, THE AIR DROP DEPARTMENT IN THE OFFICIAL DOCUMENT ALLOCATED AN EARLIER TWEET FROM CZ: "IF YOU EVER ENVY THOSE WHO BUY ENCRYPTED MONEY AT A LOW PRICE AND SURVIVE THE CYCLE, THINK ABOUT WHAT THEY DO AT A TIME LIKE THIS. THE BLOGGER SAYS:

This air drop-appliance rule ignites strong discontent in the furry community。

YZi Labs invests tens of millions of dollars, and CZ acts as consultant Genius

Genius is a centralised trading platform centred on privacy, providing spot, permanent contracts and documentary transactions, supporting more than 10 public chains, including BNB Chain, Solana, with the aim of becoming a chain substitute for Binance - bringing CEX's speed, mobility and privacy experience to the chain while maintaining full self-custody, non-custody (user ownership of private key)。

As early as October 2024, Genius announced the completion of $6 million in seed ship financing, CCMC Global, and Cadenza Ventures, AVA Labs, Arca, Flow Traders。

On January 13th of this year, Genius announced that YZi Labs had invested "thousand millions of dollars" in it, and that CZ had personally joined as an adviser。

Textbook-level inverse process: from stretching expectations to reversing rules

WHEN THE RULES WERE PUBLISHED, THE FIRST THING THE COMMUNITY FELT WAS "BACK-STABBING." THE MEMBERS OF THE COMMUNITY, WITH A CZ PLATFORM, A DETAILED TGE TIME, WERE WILLING TO SPEND MONTHS WITH REAL SILVER AND SILVER ON THE DEAL, AND WERE TOLD TO "CUT DOWN 70%" WHEN TGE WAS ABOUT TO GO, "TAKE A LITTLE BIT OR SPEND ANOTHER YEAR WITH THE PROJECT."。

IF YOU LOOK AT THE WHOLE PROCESS, THIS IS MORE LIKE A SET OF "TEXTBOOK-CLASS BACKSTEPS" THAT CONSTANTLY REVISE EXPECTATIONS AND EVENTUALLY ADJUST RULES ON THE EVE OF TGE。

At the outset, what was given was a narrative that was virtually non-controversial: funds, consultants, air drop ratios, time nodes are visible, logic is smooth and expectations are clear. In this framework, continuous brushing, investment in time and funding has become the "reasonable choice" of the Mao Party。

Subsequently, it is expected that the calibration will begin. These changes are not uncommon in themselves, even in the prevailing market environment, where some room for interpretation can be found. Many Maoists have chosen to continue their engagement at this stage, essentially accepting the new expectation of "less returns but space"。

THE REAL TURN COMES ON THE EVE OF THE TGE。After the re-engineering of the claim rules, the original allocation became an option with binding conditions — either to accept substantial discounts in exchange for liquidity, or to cover time costs in exchange for full amountsI don't know. As a result, the gap between expectations and reality was rapidly magnified。

Cost re-evaluation: new users will be "brushed" or collectively "retarded" after the earliest users

ACCORDING TO FEEDBACK FROM A NUMBER OF "SNIFFING" USERS WHO HAD BEEN INVOLVED FOR A LONG TIME BEFORE, THE COST OF OBTAINING GP POINTS BY BRUSHING TRADE VOLUMES IN RECENT WEEKS IS APPROXIMATELY 0.025 TO 0.045。

HOWEVER, IT IS DIFFICULT FOR EARLY USERS TO CONTINUE TO EXPECT TOO HIGH OPENING PRICES OR SECOND-SEASON AIR DROPS FOR A PROJECT THAT HAS BEEN ON THE LINE FOR SEVERAL MONTHS AND HAS BEEN DELAYED IN REPAIRING TURNKEY FUNCTIONS. IN THIS EXPECTATION, MOST PEOPLE ARE MORE LIKELY TO CHOOSE TGE TO DESTROY 70% AND IMMEDIATELY APPLY FOR THE REMAINING 30%, WHICH MEANS THAT THE ACTUAL COSTS ARE SCALED UP DIRECTLY, AND THE REAL COSTS HAVE BEEN INCREASED TO 0.083 TO 0.15/ACCUMULATES。

According to the user Nathan, if the score totals 200 million, Genius opens the FDV at least $800 million for users who have taken the GP points in recent weeks。

AIRDROP RATIO TO FDV

Maybe only the earliest users won't lose money。

Team response: Destroying all drops will refund all charges incurred in Genius

Since the announcement of the air drop rules, there has been widespread discontent in the Genius community. This morning, after listening to the community opinion, the team wrote on the Telegarm official channel that an additional "refund" option would be added for airdrops, which would mean the destruction of 100% of GENIUS drops in exchange for charges charged by Genius, and that users could apply for refunds within 48 hours of TGE, and the refund would arrive within 48 hours of the claim. In addition, with regard to how Genius fees are calculated, users need to understand two points:

Refunds are net rather than absolute fees. Genius has issued cash returns to trading communities of over $7 million and recommended incentives to traders of over $1.3 million. The team calculated the net transaction fee actually paid by the user to the trading terminal, which was deducted from the above

If the user executes a transaction, the total cost is 20 basis points, of which 15 basis points are charged by the bottom decentralised trading platform (e.g. PancakeSwap), while the Genius terminal is charged only 5 basis points, and Genius can only refund the user ' s fees for these 5 basis points。

Genius was unable to refund the full user fees because the fees paid to Genius were different from those paid to the lower providers。

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