With a tangible use case for the network, GenesysGo’s upcoming NFT drop is a one-of-a-kind opportunity to jump in on a project that has a clear path for success.
GenesysGo is a unique project launching on the Solana blockchain that is centered around building RPC infrastructure for the network. GenesysGo offers users a chance to manage their own Solana validator node, which are the driving force behind the blockchain. Managing these nodes grants users passive income – but more importantly, it builds the blocks on the network that transactions run on. GenesysGo is the top provider of RPC servers for major projects on Solana, including Star Atlas, Raydium, Jet Protocol, DeFi Land, DigitalEyes, Fabric, exchgArt, Socean.fi, MangoMarkets, Sonar, and many other top platforms.
GenesysGo seeks to incentivize users to become more active in the Solana network infrastructure by offering a unique opportunity to receive an allocation of seed tokens for their upcoming token IDO. These tokens will be airdropped to minters who hold one of the Non-Fungible Tokens (NFTs) from the GenesysGo Shadowy Super Coder collection, making it possible for anyone to receive the allocation.
What is an RPC Server?
A Remote Procedural Call (RPC) server communicates with RPC clients to provide communication and connection server services. It will provide the application services upon request from the RPC client. These servers are the backbone of the Solana network; without a strong RPC infrastructure the network would fail.
Due to its lightning-fast transactions and growing community, Solana is constantly putting tremendous throughput pressure on its RPC server infrastructure.
This is where GenesysGo comes in; with their project focusing on building RPC server support for numerous Solana projects, they are helping to strengthen this infrastructure to ensure the network can expand. They are among the top RPC server providers for the entire network already, and with the support of their community, they seek to become an integral part of keeping Solana scalable and powerful.
What are Seed Tokens?
Seed tokens are an initial allocation of tokens distributed at a heavily discounted price to early backers of projects. The discount means that even if the token never goes up in price beyond its initial offering price, seed token holders are guaranteed a substantial profit if they sell.
While this sounds like a great deal for investors, the truth is most seed token allocations are only available to Venture Capital (VC) backers – not the community that is building the project up. This is why joining the GenesysGo NFT-based airdrop is such an exciting opportunity for investors. Users having access to a seed token allocation levels the playing field between the everyday investor and shadowy VC firms.
The NFT Collection and Airdrop
The NFT collection is titled Shadowy Super Coders, based off of an ill-informed headline from a certain Senator. There will be 10,000 possible NFTs to be minted at a price of 3 SOL, starting on November 3rd at 6PM UTC time. The NFTs have a sleek, spy-style design, but it’s their extensive utility that makes the collection especially worth checking out.
If the entire collection is sold out/minted, the GenesysGo RPC network will be opened to all builders and Solana projects until the end of 2021. Existing users will also receive free access until January 31st, 2022.
Beyond just builders, anyone who participates in the minting process or holds the NFTs will have access to a GenGo airdrop of 10,000 seed tokens. Instead of only private VC investors backing the chain and receiving the seed allocation, the community will have a rare opportunity to receive 100% of the allocation (which will be 50% of the total supply). Details and full tokenomics are forthcoming, but the use case and utility for the token is designed to be a mining style reward for anyone who operates a RPC server for the network (similar to those who run a Solana validator are able to earn rewards in SOL).
Why This Benefits Users and the Solana Network
Getting free tokens is always nice, but the benefits of this airdrop are a little more in-depth than just the airdrop. Because seed tokens are distributed to more than just VCs, these tokens will be worth substantially more than standard airdrops would be.
An even bigger benefit is that by participating in the minting, users are directly benefiting the Solana network. Improving RPC server infrastructure will allow the network to process more transactions, thereby increasing the value of the entire ecosystem – not just GenesysGo.
GenesysGo is truly a project built on a use case rather than simply a trading token. Its support of the Solana network will be crucial in helping the blockchain continue to grow and they are trusted by some of the biggest names in Solana. Creating an even larger RPC infrastructure will enhance the future scalability of the chain, and offering users a chance to directly benefit from this enhancement will help decentralize Solana to an even further extent.
If you are interested in earning passive income while contributing to one of the most exciting Decentralized Finance (DeFi) blockchains in development, check out GenesysGo. Participate in the Shadowy Super Coders minting and gain access to a seed token allocation for a project that has a sustainable future built on tangible utility.
To learn more about GenesysGo, visit the following links:
Source : solana.news
Founded in 2020, solana News is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (solana). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. solana News aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the solana DeFi space.
solana NEWS is a private news network. All posts posted by this user belong 100% to solana.news All rights are reserved to Solana NEWS.