Genopets is Launching on AcceleRaytor

We’re excited to announce that on November 17, Genopets will be launching on AcceleRaytor!

Genopets is the first Move-to-Earn MMORPG that rewards you for exercising your mind and body. Transform your real-life movement into KI tokens to use in battle, craft valuable items, and upgrade your Genopet’s style and performance. Genopets will be governed and supported by GENE, its utility and governance token.

This article will cover the two parts of an AcceleRaytor launch: 1) the Public Raise and 2) the IDO on Raydium.

1. GENE AcceleRaytor Public Raise details:

Total tokens for the raise: 500,000 GENE (0.5% of total GENE supply), unlocked

Token fixed price: 0.80 USDC for 1 GENE

Total raise: 400,000 USDC

Model: Lottery for allocation

Allocation for winning ticket: 80 USDC (100 GENE)

Total number of winning tickets: 5,000

Pool opens: November 17, 12:00 UTC

Pool closes: November 18, 00:00 UTC

Open period of the pools: 12 hours

Eligibility and pool details:

There will be one RAY pool available for the GENE raise.

  • Allocation will be determined by a lottery system.
  • Allocation for one winning lottery ticket: 80 USDC
  • There will be two snapshot deadlines to determine ticket allotment.

7-day deadline:

  • Eligibility: At least 100 RAY staked in RAY single-sided staking prior to the 7-day staking deadline below and successful USDC deposit once the pool opens. RAY must remain staked until the pool opens.
  • Lottery tickets: 1 ticket for every 100 RAY staked — up to a maximum of 5 tickets. Staking more than 500 RAY will still receive 5 tickets maximum.
  • 7-day staking deadline: November 10, 12:00 UTC

30-day deadline:

  • To reward longer term Raydium holders, users that are eligible for the 30-day deadline will receive additional tickets on top of any received for the 7-day deadline.
  • Eligibility: At least 50 RAY staked 30 days prior to the 30-day staking deadline below and successful USDC deposit once the pool opens. RAY must remain staked until the pool opens.
  • Lottery tickets: 1 ticket for every 50 RAY staked — up to a maximum of 5 tickets, and 1 additional ticket for every 1,000 RAY staked.
  • Example: Alice has had 2,500 RAY staked before the 30-day deadline. She will receive 12 tickets — 5 for the 7-day deadline 100 RAY max allotment, 5 for the 30-day deadline 50 RAY max allotment and 2 additional for each 1,000 RAY staked.
  • 30-day staking deadline: October 18, 12:00 UTC (snapshot already taken)

How does it work?

Tickets: Users receive tickets according to the ticket allotments above. However, for a ticket to be counted in the lottery, users must deposit USDC for each ticket they wish to have entered.

  • Example: Alice has 12 tickets as the above example. Bob staked 300 RAY before the 7-day deadline and will receive 3 tickets.

Deposit: When the pool opens, users will need to deposit 80 USDC for each ticket in order for it to be counted in the lottery. Users can choose to deposit less than their total ticket allocation, however tickets without a matching deposit will not be entered in the lottery. Deposits must be in multiples of 80 USDC.

  • Alice deposits 960 USDC, her maximum, to ensure that all 12 of her tickets are entered in the lottery. Bob deposits 160 USDC even though he has 3 tickets because he needs the extra 80 USDC to buy Alice a cool NFT that is dropping that day. In Bob’s case, only 2 of his tickets will be entered in the lottery.

Lottery: Once the pool closes, the lottery will take place and winning tickets will receive a 80 USDC allocation for GENE. Results of the lottery will be shown very shortly after the pool closes.

  • Example: Alice has 1 winning ticket and will receive a 80 USDC allocation. Bob does not have any winning tickets, better luck next time, Bob.

Claim: Once the lottery is complete users will be able to remove their USDC for any tickets that did not win. Claims for GENE from winning tickets will open once trading begins for the GENE IDO (details below).

  • Example: Alice claims her 880 USDC and Bob claims his 160 USDC after the lottery concludes. Alice must wait for the GENE IDO to claim her GENE.

Lottery Transparency

The lottery will be done on-chain, with lottery numbers assigned to tickets in the order that users deposit in the pool. After the pool closes, winning numbers will be determined by hashing a block, multiplying it by the timestamp, and matching the last digits of that number with user ticket numbers. Any ticket number with the last digits matching is designated a winning ticket. This process will be repeated until all the winners are determined.

2. GENE IDO on Raydium:

Token starting price: 0.8 USDC for 1 GENE

IDO Launch time: November 18, 12:00 UTC

How does it work?

  • Raydium will launch a GENE-USDC liquidity pool (LP), after which trading will be live on the Raydium Swap interface. The AMM will begin placing orders on Serum a short time after the LP launch.
  • Participants with winning tickets for the AcceleRaytor raise pool will also be able to claim their tokens at approximately the same time that the GENE-USDC LP launches.

Fusion Pool — Provide liquidity to earn GENE rewards

  • Users will also be able to add liquidity to GENE-USDC LP and then stake LP tokens to earn yield on the Fusion Pools page. Rewards will be in GENE tokens.
  • Reward emissions on the Fusion pool will begin shortly after the LP launches, to give users time to add liquidity and stake in the Fusion pool for yield farming.

What is Genopets?

Genopets is the world’s first Free-to-Play, Move-to-Earn NFT game that makes it fun and rewarding to live an active lifestyle. Build on Solana, Genopets integrates your daily activity in real life with blockchain Play-to-Earn economics so you can turn your real-life actions into expansive gameplay and earn crypto while doing it.

Make sure to follow official Raydium accounts below for updates.

Persons located in or residents of the United States, North Korea, Iran, Venezuela or any other jurisdiction in which it is prohibited from using any of the services offered on the Raydium website, including AcceleRaytor, (the ”Prohibited Jurisdictions”) are not permitted to make use of these services. For the avoidance of doubt, the foregoing restrictions on any of the services offered on the Raydium website from Prohibited Jurisdictions applies equally to residents and citizens of other nations while located in a Prohibited Jurisdiction.

The sale of tokens is not available to U.S. Persons (as defined by Regulation S under the Securities Act of 1933) or to persons located in a sanctioned country as provided by OFAC.

--

--

--

Raydium is an on-chain order book AMM powering the evolution of DeFi. https://raydium.io/

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

How to Use Traefik as Ingress Router on AWS

Orchestrate Your Platform · Scaleout Ninja

Tugas 7 Android

Tick-Tock; The Clock You Mistook

How to write Unit test cases for Core data

Creating Blazor App in Visual Studio 2019. The Complete ASP.NET Core Blazor Developer Course 2022

Analysing PostgreSQL Data in R

Angry Boars — Uncovering a true gem in the NFT space

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Raydium

Raydium

Raydium is an on-chain order book AMM powering the evolution of DeFi. https://raydium.io/

More from Medium

Yawww is Launching on AcceleRaytor

Complete guide to Gamestarter IGOs

Introducing Blockstars

Top 3 NFT Games That Can Make You Money