GenerEOS are proud to announce the launch of the first EOS Voter Rewards Exchange — Genpool.io.
Pioneered by EOS Nation and soon followed by Colin Talks Crypto and VoteForValue, rewards proxies have become an accepted part of EOS governance. But up until now, running a rewards proxy required technical know-how, development time and setup of your own backend infrastructure. Genpool.io is here to change this.
The Genpool platform is a zero barrier to entry free market ecosystem, connecting proxy owners with voters that are looking to support quality Block Producers (BPs) while being rewarded with a percentage of the additional BP income.
Genpool believes in the power of the free market versus in the hands of a few. This means that on the Genpool platform anyone can start a rewards proxy or convert an existing proxy over to a rewards proxy in seconds. Giving everyone access to these features will create wider voting participation and generate opportunities we haven’t yet seen.
Proxies are an underutilised resource on the EOS mainnet. After developing the rewards proxy for Colin Talks Crypto, we have first-hand witnessed the positive impact and exposure he creates for the network and how much time he pours into the unpaid role.The Genpool platform does not only focus on voter rewards but also allows proxy owners to monetise their hard work and promotion by setting a proxy fee. This allows influencers, EOS whales and projects a way to monetise their reach, stake or community which will generate more publicity for EOS overall.
The platform is designed for three types of users:
- Voters wanting to vote for a rewards proxy and get a return.
- Proxy Owners who want to register as a rewards proxy and earn income.
- Block Producers who want to register with a rewards proxy to gain votes.
If you are a voter, then the home page of Genpool.io is all you need. Proxy Owners and Block Producers navigate to their respective Dashboard via the menu.
We have created separate help sections for above mention user groups:
Voter rewards — Proxy sets a percentage of vote rewards (i.e. a percentage of ‘vpay’) from Block Producers that go to the voters. This allows proxy owners to still allow a portion of profit for the Block Producers.
A BP has 50,000,000 EOS votes which yields 102.5 EOS daily in vote pay (vpay). Now, let’s assume a rewards proxy has 12,000,000 EOS assigned to the proxy. If the rewards proxy voted for the BP then it would increase its vote weight to 62,000,000 EOS, which would yield around 126.5 EOS daily.
The rewards proxy vote increased the BPs daily yield by 24 EOS. The proxy can set a percentage — let’s assume — 80%. Therefore, 80% of this added yield will be returned to voters as a reward — 19.2 EOS. At the same time the BP’s profit increases by the remaining 4.8 EOS. This allows BPs to still earn a 20% profit from the proxy vote.
Proxy Fee — Proxy owners can get paid for their service. A fee percentage of rewards can be set and sent to themselves on a daily basis. This allows proxy owners to monetise their proxy and opens the doors to major social influencers looking to monetise their channels and contributions.
Automated Rewards — Rewards will be sent to voters and proxy owners daily. There will be no claim process or complicated steps. Voters will simply assign their vote to a proxy how they normally would and they will receive rewards into their voting account.
- 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.
We hope you enjoy using this platform as much as we did building it. We cannot wait to see the positive impact it has for the network. We hope to see you as one of the first adopters!
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!