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Genius Ends Second Season, Sets Refund Window and Token Burn Plan
Genius said its second season has officially ended, with 173 million GP distributed versus the 200 million GP originally planned. According to PANews, users who choose refunds will receive a full refund of Genius fees, and the corresponding GENIUS tokens will be burned.
The refund window will open at 0:00 on October 7 and close at 0:00 on October 12. Users who apply for refunds will receive 100% of the fees paid to Genius and forfeit the GP earned during the second season. All repurchased $GENIUS will be burned.
Users who do not choose refunds can, starting October 12, select immediate unlock of their allocation in a second five-day window with an 85% deduction, or lock it for 24 months and receive 100% of the airdrop allocation. Genius said the 173 million GP distributed this season represents a potential claimable allocation of up to 6.055% of GENIUS total supply, while the remaining 0.945% will be automatically burned.
The refund window will open at 0:00 on October 7 and close at 0:00 on October 12. Users who apply for refunds will receive 100% of the fees paid to Genius and forfeit the GP earned during the second season. All repurchased $GENIUS will be burned.
Users who do not choose refunds can, starting October 12, select immediate unlock of their allocation in a second five-day window with an 85% deduction, or lock it for 24 months and receive 100% of the airdrop allocation. Genius said the 173 million GP distributed this season represents a potential claimable allocation of up to 6.055% of GENIUS total supply, while the remaining 0.945% will be automatically burned.
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