[Old Leek Observation]
$GENIUS Next there may be a very interesting supplier-versus-supplier standoff.
The second season has already ended. The project has announced a new refund and burn mechanism:
Starting October 7, eligible users can apply for a refund and get back 100% of the Genius fees, but they must forfeit the GP they received in Season 2.
More importantly, the project states that the $GENIUS involved in the repurchase will be directly destroyed, along with an automatic destruction of 0.945% of the supply.
According to the project’s disclosures, Season 2 actually distributed 173 million GP, corresponding to up to about 6.055% of the total GENIUS supply.
That means what the market will be watching next is not “whether there will be an airdrop,” but: how many people will choose to request a refund? And how much GENIUS can ultimately be burned?
$GENIUS
$GENIUS Next there may be a very interesting supplier-versus-supplier standoff.
The second season has already ended. The project has announced a new refund and burn mechanism:
Starting October 7, eligible users can apply for a refund and get back 100% of the Genius fees, but they must forfeit the GP they received in Season 2.
More importantly, the project states that the $GENIUS involved in the repurchase will be directly destroyed, along with an automatic destruction of 0.945% of the supply.
According to the project’s disclosures, Season 2 actually distributed 173 million GP, corresponding to up to about 6.055% of the total GENIUS supply.
That means what the market will be watching next is not “whether there will be an airdrop,” but: how many people will choose to request a refund? And how much GENIUS can ultimately be burned?
$GENIUS