[RECAP] Genius X’s AMA

11 min readJun 30, 2023

On June 29th, 2023 at 1:00 pm (UTC), Genius X team took part in a particularly exciting AMA session which included Genius X Project introductions and questions from ArbiPad’s community.

Missed the Genius X AMA with ArbiPad Community? Catch up on the overview and fundamentals of Genius X with this recap. Delve deeper into the topic and uncover even more insights and perspectives!

PART 1 — PROJECT INTRODUCTION AND UPDATES

Please tell us about what Genius X is?

in more details GX is the web3 industry’s first and only tokenized venture accelerator, which also runs a launchpad. We work with early and even growth stage web3 projects by offering various supports to help them build and fund successful projects and launch tokens. Our supports include tokenomics, tech support, fundraising and investor outreach, strategy advisory, legal and regulatory advisory, token launch structuring and launchpad services. We run an ever green model and customized acceleration model, where design our supporting plan based on everyone’s need, with a long-term engagement — not the typical 3 months program with a demo which we don’t see value-addingBehind a great project is a great team. It’s always good to read these figures and to see the passion in the team behind Genius X.

Can you share with us about the man behind Genius X and their experiences in this space?

Our team is comprised of serieal entrepreneurs in tech industry, financial and regulatory expert, blockchain development and tech gurus, experienced marketing and business development professionals, as well as venture capital and startup advisory experts.

Every project has a few stories behind the scenes. We all curious what made you decide to build Genius X?

Our team built Genius Yield, one of the leading DeFi protocols on Cardano before launching Genius X. It’s a true next-gen, 100% orderbook based DEX with AI-powered yield optimizer. During the journey, the team gained a lot of valuable experience and learned lessons. We realized the importance of acceleration/advisory services for crypto venture builders ourselves, and the lack of options in the space today. In the meantime, due to the reputation of the team, many new entreprenuers came to us for advice and help during their project building journey. That got us to decide to launch Genius X to help grow the crypto venture building ecosystem, and to involve community in this process through a tokenized accelerator model.

Please share a few major milestones regarding Genius X development and the partnership that Genius X has achieved so far?

Genius X has been live for more than year. Currently we have about 15 projects in our program/ecosystem, and many of them are growing well (a few examples). Our launchpad had 2 relatively succesful IDOs in recent months (collectilvey raising over $1M for projects). We are the number 1 accelerator and launchpad in Cardano ecosystem with strong reputation. Recently, to capture further growth opportunity, we have decided to go blockchain-agnostic and been actively expanding into several Ethereum L2 ecoystems, with Arbitrum and Polygon as priority due to the community vibe there. We are discussing various collaborations with Arbitrum Foundation and Polygon Labs about committing to supporting their ecosystem growth for projects and token launch.

As we know, there are so many similar Project like Genius X in this space. What makes Genius X different from other similar Projects? Why we should choose Genius X?

First — why the Genius X accelerator is unique:
(1) To projects, we are the only evergreen accelerator (always open and running and not dependent on shareholders/sponsors), with a 100% customized acceleration services — no fixed-term/3-month group activities with a demo day that does not consider each project’s own problem and challenge. Our engagement is typically long-term: we don’t believe you can offer a project a lot of support within 3 months. Venture building takes time — a year or more, we are always there to make sure we do everything for projects at the right point of time.
(2) To communities, we are the only tokenized accelerator, where we involve community in the venture building business and share with community the value and revenue generated at Genius X, through our GENSX tokens. Other accelerators are centralized / owned by institutions and do not involve community.
Second — why the Genius X launchpad is unique:
there is unique synergy between the accelerator and the launchpad, most of the IDOs on the launchpad will be for projects who we have worked with during the acceleration, meaning certain level of trust or quality assurance. The launchpad will also opportunistically launch IDO for other projects than those from the accelerator, but rigorous due diligence will be conducted to ensure quality.

Let’s talk about $GENSX token in more details. Please tell us about your token utility and its tokenomics?

GENSX token has a very unique utility and value driver. According to Genius X’s business model, it will earn tokens of many projects that it will accelerate, as well as fees from helping those projects raise funds and host IDOs (on the launchpad). 20% of all these earnings will be distributed to GENSX stakers. That means by staking the GENSX token, one should expect to receive irregular “airdrop” of other project tokens as well as money, as the Genius X business generates such value and revenue. Details about tokenomics and utility can be found on the Documentation section of Genius X website.

Can you share us about the benefits of being holders of $GENSX token?

GENSX token has a very unique utility and value driver. According to Genius X’s business model, it will earn tokens of many projects that it will accelerate, as well as fees from helping those projects raise funds and host IDOs (on the launchpad). 20% of all these earnings will be distributed to GENSX stakers. That means by staking the GENSX token, one should expect to receive irregular “airdrop” of other project tokens as well as money, as the Genius X business generates such value and revenue.

How about token sale and IDO? Can you explain us Genius X IDO Details?

The Genius X IDO will happen on June 29th, across three different platforms: ArbiPad, Red Kite Launchpad, and the Genius X Launchpad (our own community sale). The starting and ending time on each platform will be different, but all will finish within 48 hours. The best way is to check on official announcement about the IDO details (pinned tweet on the Genius X twitter account), as well as the announcement by ArbiPad and Red Kite Launchpad.

Can you share about your Roadmap?

We will complete the TGE and start the staking program in Q3 2023, and thereafter focus on building up the Genius X project ecosystem as well as the launchpad business. We have a current pipeline of projects for onboarding to Genius X, and we expect to onboard several of them in the rest of 2023. In 2024, we will continue to grow the project ecosystem and pipeline, as well as seek partnerships with other organizaiton in both Web3 industry and Web 2 (but an interest in Web3 venture building) to potentially run partnership programs. Details about our roadmap can be found on our website.

Is there any upcoming updates or event that will be held by Genius X? If yes, please share it with us here. Our Community is excited to hear about it.

One point worth noting is that we are hosting a series of AMAs called “Genius eXamined” from eariler this month, which will run into July, showcasing a number of current projects we are working with in the accelerator. Their founders/team will be talking about their latest updates, milestones and future plans to the community. These projects are considered as examples of our startup project ecosystem, which will be the basis of the future value generation at Genius X as well as the GENSX tokens. I will highly encourage everyone to join those AMAs to get a sense of our project ecosystems. In short, we are growing the value in the Genius X project.

PART 2 — TWITTER COMMUNITY QUESTIONS

Q1 from @AdcDavidtai1999: As a launchpad for startups , can you disclose the key benefits of @OfficialGeniusx to help projects to have early adopters? How are your marketing strategies directed that can definitely complement & optimize the response time of the community to quality projects?

Helping projects to generate early adopters of their products/protocols is more of an Accelerator business, not a Launchpad business (Launchpad is more focused on helping projects to gain community that is convertible into token launch participatns). For B2C projects, our Accelerator helps generate early adoptors with finding the best product/market fit — meaning that we advise them to design the best product utility that is really needed by people. Second, we design and help execute marketing and campaigns for projects through our owned and partner channels, based on the project’s user target. For B2B projects, we help connect with business partners in our network and help them develop go-to-market strategy.

Q2 from @Miii_Brito: With respect to ADA Delegations to the four GENS stake pools: GENS1, GENS2, GENS3, or GENSX. Are they assigned to the accelerator project you helped them use during the early-stages or do users still retain ownership of their assets? Can it be withdrawn at any time???

To be removed/replaced as this question refers to ISPO which is not a business we do any more today and will confuse the audience.

Q3 from @HerbertChandl: While there are many launchpads, not many of them are concerned with assisting projects pre and post launch while at the same time capturing the safety interest of investors in those projects. What support do @OfficialGeniusx provide for projects prior to IDO and post-IDO?

Most IDO projects will likely come out of our accelerator, where they will have received a full series of support and we will continue to work with them even post-IDO on items that are part of our acceleration service. There will be projects that have come directly to our launchpad also, as we hope to capture all business opportunities. We will typically advise IDO projects on tokenomics and utility design, help structuring the TGE and post-listing liquidity, connect them with our partner market makers, DEXes/CEXes, and mostly important help them design and launch marketing campaigns to build a solid community toward their token launch. We may also advise them against an immediate IDO if we do not think they are at the mature enough stage to do that, based on our assessment, and instead offer them acceleration support to bridge the gap. Post-IDO, we will also implement market standard measures to protect the IDO partcipants against various risks related to the project.

Q4 from @MrVernom2000: Can you explain the mechanism behind the distribution of staking rewards from the Genius X Launchpad fees and the Genius X project tokens earned by the accelerator?

20% of the other project tokens, and of the fees on helping projects raise funds and hosting IDOs, will be distributed to the stakers of GENSX tokens. This will be a series of irregular distributions that happens after the relevant tokens/fees are earned by Genius X. Stakers’ wallet address will be tracked by the staking smat contracts to ensure the effective istribution of those rewards.

Q5 from @RainanWand: As a launchpad platform, what are the measures implemented into the @OfficialGeniusx to avoid Rug pulls and scam? Lastly, what are the plans to ensure that projects launched on @OfficialGeniusx continues to get full support from the Launchpad

While rug pull and scam are always risk that investors will have to take based on their independent investment decision, Genius X will impelment a number of meatures to help mitigate that risk for IDO investors. A rigorous due diligence including team’s background check will be conducted by Genius X. Full support will be provided to projects by Genius X whether through the Accelerator or at the Launchpad — details have been discussed in Q3 above.

Q6 from @LucasS12K: Could you provide me with information about the profits that the token holds, what other utilities do you expect to add,at least in this year 2023 and finally what are some of the advantages and disadvantages faced by investors and/or holders who buy your token in the long term?

20% of the other project tokens, and of the fees on helping projects raise funds and hosting IDOs, will be distributed to the stakers of GENSX tokens. We would also consider additional utilities for staked GENSX such as rights of participating in the IDO rounds. The advantage of investors holding and staking GENSX over the long term is clear with the 20% revenue and accelerator portfolio value sharing, which typically grows faster over longer period of time with more projects building success and accruing value in their tokens. One thing that might be perceived by certain people — such as short-term return seekers — as disadvantage is that venture building is a long-term business model, and most part of the value is generated over time instead of instantly.

Q7 from @KairaWong48: I want to ask about the $GENSX token. How does $GENSX increase its value, liquidity & utility ? Can it increase the price of your token? What’s your plan to make your project stable and provide the highest revenue for investors from long term?

Price of a token is determined by supply and demand. The more intrinsic value an asset has, the higher demand it will like to have, and hence the price. Although there are so many factors that are out of the control of the project team that would impact the price of GENSX token, we have tried our best to design a uniquely strong utility and value driver for GENSX tokens, which has been discussed above. We think the way to deliver long-term, growing revenue/value to investors is to continue to grow the scale of the Genius X project ecosystem both at the Accelerator and at the Launchpad. That’s what we will try to keep doing going forward.

Q8 from @Mateo_12890: What measures has @OfficialGeniusx
taken to ensure the security of its platform? Has the project undergone any third-party audits to identify potential vulnerabilities in its smart contracts?

Genius X Accelerator is more of a consulting/advisory business that is not deployed on smart contract, but the launchpad and staking vaults are deployed on blockchain/smart contract. The audit report is availalbe on our website.

Q9 from @Alekgender__: “Low Liquidity” is one of the most important problems a project needs to solve, how does the “GENIUSx” team Deal with this problem? WHAT liquidity system do you use?

Low liquidity is not necessarily a problem for every token. For any token, the liquidity simply needs to match the demanded trading volume on the market. For tokens with high trading volume demand, yes low liquidity would be a problem. There are a number of ways to increase liquidity, such as the projects’ official liquidity reserve that will be gradually released into the circulation, working with more exchanges as well as other types of liquidity hosters, and market makers. But the liquidity growth needs to be kept in line with the market demand.

Q10 from @suny_1111: What are the difficulties you have been faced during the development of #GeniusX? How many product have build on your platform? Can you tell some highlights from them?

Due to the unique token utility and value driver, our team have to develop a unique staking program to achieve the revenue/value sharing benefits we have designed for GENSX tokens. This requires quite amount of work from product design, development and implementation perpsective. Luckily, our solid in-house devs team as well as our tech partners are able to put a solid initial structure together and will continue to refine it. At Genius X we have the Accelerator and the Launchpad, so you can call it 2 products.

You can always play the AMA recording here:

https://twitter.com/arbipadcom/status/1674401191789498368

Follow Genius Xon all social platforms for IDO, AMAs, Airdrops, and every single good news about Genius X that none of you would want to miss.

About ArbiPad

ArbiPad — Next generation Arbitrum-zkSync based launchpad by Good Games Guild. ArbiPad is constructed as a bridge between the best crypto project and the global community, especially investors and community in the crypto sphere with transparency and a fair distribution system.

Follow us for more updates!