Genius Yield brings in $ 118 million through ISPO in the first 48 hours

The initial offering of stake pools has gained considerable attraction, with every fourth GENS pool having almost completely accepted in just two days.

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On December 15, Genius Generate, a decentralized automated market maker and liquidity management protocol based on the Cardano blockchain (ADA), announced the launch of an initial quote service. The head is also known as the ISPO. The fundraising will continue for six months through June 15, 2022.

At an ISPO, blockchain enthusiasts set their cryptocurrency on a protocol and receive the tokens of the new project they are sponsoring as a reward. After a blocking period, investors can then get their deposited cryptocurrency back. Through this method, investors not only get a return, but on paper they get their original investment back. Of course, the setup is still prone to risks such as technical glitches, hacks, or carpet pulling, which are not as obvious as with the more established funding methods.

At this special ISPO, users pay their ADA from their Cardano wallet, like Yoroi, into one of four GENS stake pools and receive GENS tokens. According to the developers of Genius Produce, 10 million GENS tokens from a total offer of 100 million will be distributed to ISPO investors. In addition, they also receive 20% transaction fees on the platform.

Related: MELD’s $ 1 Billion ISPO Lifts Emerging Use Cases For Cardano, Crypto Fundraising

This money will be used in part to develop a solution that will allow users to take advantage of advanced algorithmic trading strategies and optimize profits on the Genius Generate platform.

Sothy Kol-Adult men, co-founder of Genius Generate, says the platform is building a “community-driven education and mentoring” program teaching users about decentralized finance, also known as DeFi.