Since Genpool’s release on 3 February 2020, the user-friendly platform has spearheaded the voter rewards exchange space on the EOS Mainnet. Genpool.io has hit the ground running, with exponential growth stats that are seeing it well on its way to solidifying its place in the community. At the time of writing, Genpool.io manages over 6.2 million EOS, has ten registered proxies and over 1750 users engaging on the platform. To further catapult its popularity, Genpool.io is in talks with major influencers and proxies in the EOS and blockchain space that are making its future look bright, so keep your eyes peeled and your ears sharp!
GenerEOS is committed to making the Genpool.io platform a dependable and seamless experience for voters, proxy owners and block producers (BPs). Since it’s a pioneer of its kind, we want to provide as much information to users as we navigate through such a dynamic and fluid environment. In addition to the FAQ pages for voters, proxies, and block producers, we have prepared some use cases below for how proxy owners or future proxy owners can utilize the Genpool.io platform to achieve their goals.
Use Case 1: Split Fund Proxy
Proxies can portion off reward funds by allocating some to voters and some to other products, projects or causes. For example, the GenerEOS Charity Proxy has the philosophy of making the world a better place, not just within the EOS Mainnet but beyond into the physical world. Linking this philosophy to a product, the Charity Rewards Proxy was born. The Charity Rewards Proxy shares reward funds between voters, charities and selected BPs. For example, if the Proxy has 10 million votes staked, it would yield 650 EOS per day in vote pay which is then distributed in a structure that gives 390 EOS (60%) to back voters, 130 EOS (20% proxy fee) to charities, 117 EOS (18%) to selected BPs, and 13 EOS (2%) goes to Genpool as a service fee.
Your proxy could be set up with whatever distribution structure you choose, to go to whichever organisations or projects (not just charities!) you choose. These could include funding bug bounties, workers proposals or venture capital funding for projects/foundations etc.
Use Case 2: Influencer Proxy
A prominent influencer within the blockchain space could utilize Genpool.io in conjunction with the following to supplement income. For example, Ivan On Tech creates a voter rewards proxy that sends 80% of vote pay to voters, 10% to himself as a proxy fee, 8% to selected BPs, and 2% for the service fee which he then promotes to his 215K YouTube subscribers and other social media channels. In addition to those who would stake to his proxy anyway, some followers might want to stake their EOS to block producers and earn rewards, but don’t know where to start, or maybe are unfamiliar with the concept entirely, this creates an untapped market for Ivan to harvest. Using the same figure as before, let’s assume Ivan was able to accumulate 10 million votes from his subscribers, this would yield 650 EOS per day, of this 650 EOS, 520 EOS is distributed between voters, 65 EOS to Ivan, 52 EOS to his selected BPs and 13 EOS to the service fee.
Use Case 3: Whale Proxy
A whale (large volume token holder) can register on the platform as a proxy, and have the BPs pay them via the proxy for their vote. For example, a whale with 10 million EOS can set up a rewards proxy that allocates 90% (585 EOS) of the 650 EOS generated directly back to themselves, 8% (52 EOS) for BPs to keep and 2% (13 EOS) to the Genpool service fee. This means the whale still has the choice over who he votes for rather than delegating to a proxy but still gets a reward for doing so.
Genpool.io believes that the majority of tokens in the EOS Mainnet will move to some type staking rewards incentive and Genpool.io is aiming to be the driving force behind giving everyone access and to allow flexibility in staking rewards options as illustrated above. This is an entire new market that early adopters can benefit from.
- Add multiple token reward options and loyalty bonuses
- Automation. Auto-voting and un-voting. Automated vote selection criteria like API endpoints, missed rounds, alternation of BPs etc.
- Referrals. Allowing wallets, block explorers and users incentives for referring voters or new proxies onto the platform.
- Launch of the Genpool native token. Our native tokens will hold many features such as time based loyalty rewards for assigning to proxies on the platform along with games and lotteries.
- Staking rewards for other tokens and blockchains.
GenerEOS is a social enterprise stand-by EOS Block Producer with a mission of promoting and supporting scalable and highly reliable block production whilst giving back block rewards to social causes.
Based out of Sydney, Australia, GenerEOS is founded by a team of like-minded blockchain enthusiasts with diverse backgrounds and a passion to make a difference in the world and fostering the spirit of generosity by giving back.
Please remember to vote for ‘aus1genereos’ so we can keep working hard to add value to the EOS community.
GenerEOS: The Future of Giving!