Genie Protocol is the world’s first cross-chain DeFi protocol that allows you to diversify your capital with a single click.
Genie Protocol brings investment funds into DeFi
Technically, it is a DAO that handles several functions allowing the purchase of several ERC20 tokens in a single transaction, thus saving gas costs.
This, for example, will also allow the creation of other protocols similar to real decentralized investment funds, to replicate the market trend or to create real decentralized index funds, or to allow users with proven skills to manage funds in which other users will be able to participate.
In fact, with Genie Protocol, users will be able to buy any token operating in the Ethereum and Binance Smart Chain ecosystems, and in perspective, with ERC20-compatible tokens, such as those on Solana, Polkadot, Polygon Matic, or Avax.
The GNP token
Everything, however, will be decided by the Genie DAO, within which users will be able to vote thanks to the GNP governance token.
In addition to being the governance token of the Genie DAO, GNP will also be the utility token for the use of different functions that the DAO will decide to realize in a totally decentralized way.
Among these, for example, there may be the possibility of staking one’s own tokens, the possibility of creating sub-protocols managed by artificial intelligence or specific users, or replicating market trends, or the option of deciding which tokens can be purchased through the protocol.
The goal of the Genie DAO project is to create an entire ecosystem in which users holding the governance token have total management of the Genie protocol.
The Genie Protocol team
A few days ago, the team behind the development of the project was revealed.
It is an Italian team with some of the best-known names in the national cryptocurrency scene; among others, we have:
- Alfonso Santitoro: one of the top Italian Blockchain experts as well as international speaker, judge at Malta Blockchain Summit, former VP Marketing at Dsla;
- Valerio Gallitto: a well-known Italian Blockchain expert and consultant for the government of San Marino.
The Genie roadmap
The protocol will be launched in the coming weeks, and the DAO is already operational, with even the first proposals voted and executed.
Right now, Genie is listed on Pancakeswap, on the Binance Smart Chain, but later the intent is to add other exchanges, both decentralized and centralized.
In addition, initially, Genie Protocol will only consist of a DAO, while the GNP token will only be the governance token for the DAO.
All other functionalities will be added later only after being voted by the token holder community.
The Roadmap is very interesting: end of December/beginning of January Mainnet, Q1 2022 start of international marketing, the start of mobile application development, listing on CEX.
The post Genie Protocol wants to revolutionize the DeFi market appeared first on cryptodailynews24.com.