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Genesis Shards Stock

Genesis Shards

GS

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Genesis Shards Whitepaper

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Börse Marktpaar Preis +2% Tiefe -2% Tiefe Volumen (24H) Volumen % Typ Liquiditätsbewertung Aktualität
Gate.ioGS/USDT0.010057,484.620cex12/21/2025, 9:41 AM
Gate.ioGS/ETH00000cex14/8/2025, 6:32 AM
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Genesis Shards FAQ

What is Genesis Shards (GS)?

Genesis Shards (GS) is a decentralized ecosystem built on Polkadot that redefines non-fungible tokens (NFTs) as decentralized finance (DeFi) options, establishing a seamless cross-chain liquidity environment for pre-initial DEX offering (IDO) tokens. Genesis Shards addresses existing challenges in the pre-IDO space, such as the low liquidity of tokens caused by the absence of a tradable market and inconsistent over-the-counter (OTC) trading practices, leading to a high risk of defaults. Genesis Shards is designed to enable network participants to access and trade pre-IDO tokens efficiently and securely. Projects can take advantage of token liquidity early in their lifecycle with the support of the community. This is facilitated through the availability of NFTs in the OTC market and the conversion of NFTs into a liquidity facility for pre-IDO tokens. Genesis Shards was established in 2020 and secured $2.7 million in funding in March 2021 to introduce a novel pre-IDO market. The roster of investors includes 3Commas, Axia8, OKEx Block Dream Fund, LD Capital, Spark Digital Capital, Momentum 6, among others.

**Who Founded Genesis Shards?**

Genesis Shards was co-founded by Garlam Won and Nilotpal Mukherjee. Before establishing Genesis Shards, Garlam Won held positions as the Head of Marketing at Harmony and Head of Global Partnerships at ICONIZ. Additionally, he has served as an advisor for various organizations, including Kylin, PAID Network, Raze, PolkaFoundry, KPAD, and SPLYT. Garlam Won pursued a finance major at Garlam University. His professional experience includes roles as an investment banker at JP Morgan and a management consultant at Deloitte. He also contributed to the blockchain landscape as the Chief Blockchain Editor at Financial Street Media. Nilotpal Mukherjee has a history of working as an investment banker at Deutsche Bank and a strategic consultant at Accenture. In 2018, he assumed the role of Business Lead at Marlin Protocol.

What Distinguishes Genesis Shards (GS)?

According to the team, the aim of Genesis Shards is to establish a comprehensive market for pre-IDO NFT liquidity and unlock new opportunities for the DeFi market as a whole. Genesis Shards creates a marketplace for illiquid tokens by wrapping time-locked fungible tokens into NFTs. The GS token serves as the native utility token for Genesis Shards. It is used for Genesis Access, Genesis NFTX, and allows participation in the governance of the Genesis network. To integrate GS tokens into the Genesis network, they must be exchanged for Genesis Access NFTs. The quantity of tokens held determines the access rights for members. GS acts as the native token on the Genesis NFTX platform. It permits users to enjoy reduced swap fees for tickets, access cards, and Genesis smart contracts. GS token holders have specific governance rights, with their voting power directly proportional to the number of tokens they own.

What is the Current Circulation of Genesis Shards (GS) Coins?

The GS token was publicly launched on April 14, 2021, on the decentralized fundraising platform Polkastarter (POLS). Genesis Shards conducted a dual IDO on Polkastarter, with the launch occurring simultaneously on Ethereum (ETH) and Binance Smart Chain (BSC). The total supply was allocated between the ETH pool (70%) on Ethereum for POLS holders and the BSC pool (30%) on Binance Smart Chain. As of April 2021, GS has a circulating supply of 12,030,988 tokens and a total supply of 218,911,248 tokens, as reported by Eulerpool.

How is the Genesis Shards Network Secured?

Genesis Shards operates as a decentralized ecosystem built on the Polkadot network. It leverages Polkadot's nominated proof-of-stake (NPoS) consensus algorithm to enhance the security of its blockchain. All parachains linked to the Polkadot Relay Chain gain from the economic security offered by the validators of the Relay Chain. Polkadot's framework for data validity and availability facilitates interaction between various chains. While these chains maintain independence in governance, they remain unified through shared security. You can find more about Genesis Shards on Eulerpool.

Where Can You Purchase Genesis Shards (GS)?

Genesis Shards (GS) is available for trading on the following exchanges: * Uniswap (V2) * 1inch Exchange * DODO BSC Refer to our comprehensive step-by-step guide on purchasing Bitcoin and other cryptocurrencies.

Investors interested in Genesis Shards are also interested in these Cryptos

This list presents a carefully selected selection of Cryptos that might be of interest to investors. We have our own crypto analyses for all listed Cryptos on Eulerpool.

Beginnings and the Rise of Cryptocurrencies

The history of cryptocurrencies began in 2008 when an individual or group using the pseudonym Satoshi Nakamoto published the whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System." This document laid the foundation for the first cryptocurrency, Bitcoin. Bitcoin utilized a decentralized technology known as blockchain to enable transactions without the need for a central authority.

In January 2009, the Bitcoin network commenced with the mining of the Genesis Block. Initially, Bitcoin was more of an experimental project for a small group of enthusiasts. The first known commercial purchase using Bitcoins occurred in 2010, when someone spent 10,000 Bitcoins on two pizzas. At that time, the value of one Bitcoin was just fractions of a cent.

The development of other cryptocurrencies

Following the success of Bitcoin, other cryptocurrencies soon emerged. These new digital currencies, often referred to as "Altcoins," sought to use and improve blockchain technology in various ways. Some of the most well-known early Altcoins include Litecoin (LTC), Ripple (XRP), and Ethereum (ETH). Ethereum, founded by Vitalik Buterin, was particularly distinct from Bitcoin, as it enabled the creation of smart contracts and decentralized applications (DApps).

Market Growth and Volatility

The cryptocurrency market grew rapidly, and with it public attention. The value of Bitcoin and other cryptocurrencies experienced extreme fluctuations. Highlights such as the end of 2017, when the Bitcoin price nearly reached 20,000 US dollars, alternated with sharp market crashes. This volatility attracted both investors and speculators.

Regulatory Challenges and Acceptance

As the popularity of cryptocurrencies rose, governments around the world began to grapple with the regulation of this new asset class. Some countries adopted a friendly stance and encouraged the development of crypto technologies, while others introduced strict regulations or outright banned cryptocurrencies. Despite these challenges, the acceptance of cryptocurrencies in the mainstream has steadily increased, with companies and financial institutions starting to adopt them.

Recent Developments and the Future

In recent years, developments such as DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens) have broadened the range of possibilities offered by blockchain technology. DeFi enables complex financial transactions without traditional financial institutions, while NFTs allow for the tokenization of artwork and other unique items.

The future of cryptocurrencies remains exciting and uncertain. Questions about scalability, regulation, and market penetration remain open. Nevertheless, interest in cryptocurrencies and the underlying blockchain technology is stronger than ever, and their role in the global economy is expected to continue growing.

Advantages of Investing in Cryptocurrencies

1. High Return Potential

Cryptocurrencies are known for their high potential returns. Investors who got in early on projects like Bitcoin or Ethereum have made substantial gains. This high return makes cryptocurrencies an attractive investment opportunity for risk-seeking investors.

2. Independence from Traditional Financial Systems

Cryptocurrencies offer an alternative to the traditional financial system. They are not bound to the policies of a central bank, making them an attractive hedge against inflation and economic instability.

3. Innovation and Technological Development

Investing in cryptocurrencies also means investing in new technologies. Blockchain, the technology behind many cryptocurrencies, has the potential to revolutionize numerous industries, from financial services to supply chain management.

4. Liquidity

Cryptocurrency markets operate around the clock, which means high liquidity. Investors can buy and sell their assets at any time, which is a clear advantage compared to traditional markets that are tied to opening hours.

Disadvantages of Investing in Cryptocurrencies

1. High Volatility

Cryptocurrencies are known for their extreme volatility. The value of cryptocurrencies can rise or fall quickly and unpredictably, posing a high risk to investors.

2. Regulatory Uncertainty

The regulatory landscape for cryptocurrencies is still emerging and varies greatly from country to country. This uncertainty can lead to risks, especially when new laws and regulations are introduced.

3. Security Risks

While blockchain technology is considered very secure, there are risks associated with the storage and exchange of cryptocurrencies. Hacks and fraud are not uncommon in the crypto world, which requires additional precautions.

4. Lack of Understanding and Acceptance

Many people do not fully understand cryptocurrencies and the underlying technology. This lack of understanding can lead to misguided investments. Additionally, the acceptance of cryptocurrencies as a means of payment is still limited.