Genesis Pool (GPool) Announcements

Hi, Raise Finance Community

We have received confirmation from Raise Finance that the refund to all of the participant community members is now complete. Please check your relevant wallets and chains. If you have any further questions, please get in touch with them directly.

Thanks, GPool

Hi Gpool community

Raise Finance has informed us that they will be performing a refund of investor funds to GPool participants.

We have returned the investor tokens provided to them

If you have further questions, please contact Raise Finance directly via their email [email protected] or social channels https://raisefinance.io/

Hi Gpool Community

Rendeverse informed us that they are not yet ready to set a date for TGE.

To make this easy for those who have invested, we have suggested that Rendeverse handle the token allocation directly when TGE occurs, which they have agreed to facilitate.

For all who invested in Rendeverse, we suggest you follow their socials and contact them if you have further questions via their website https://rendezverse.com/contact/ or email [email protected]

Hi Gpool community

We understand that several users have had issues unstaking and claiming their tokens. We have investigated the problem and have fixed the issue.

Due to this technical issue, we have extended the closure date of the staking platform to Friday, February the 24th, 2023.

If you are having trouble unstaking or claiming your rewards, please contact [email protected] for assistance. Please detail your issue and include your wallet address.

Hi Gpool Community

The GPool staking system was due to close on the 9th of February, although many people have still not yet claimed their tokens. We will leave the staking platform open for a further week. The new closure date for the staking system will be:

GPool staking platform will close on 16/02/2023

We will not continue to extend the date, so if you want to claim your rewards, please do so before the 16th of February.

Any unclaimed tokens and rewards left in the staking platform after this date will be discarded and unredeemable.

Hi GPool Community.
As we mentioned in the previous message, the GPool staking platform is getting shut down. We accelerated the distribution of rewards so that you can now collect all the remaining tokens owed to you.

To collect your rewards, connect to https://stake.gpool.app/ and click on the compleated rewards tab on the dashboard. Click the claim all button to claim any owed rewards. We would also ask you to un-stake your GPool tokens at the same time. Please do this before 09/02/2023, as the GPool staking system will be shut down shortly after this date, and claiming your rewards and tokens after this date will not be possible.

We'll be providing more information shortly.

Hi Genesis Pool Community

We know there has been a lack of communication leading into the New Year's break. There has been plenty going on behind the scenes that we have been itching to tell you. However, we could not expand on the developments publicly until agreements were in place.

We are happy to say that Genesis Pool is in the process of being acquired, and a new project team will take control in the coming weeks. More information will be forthcoming, but we can inform you that the current GPool staking system will be closed down. All remaining rewards will get distributed and made available for collection, with details and timeframes provided soon. Discussions with Raise Finance and Rendezverse are taking place on the investor's behalf to clarify when token distribution will occur. We will keep you posted as new information becomes available.

As we speak, the details and plans for the future direction of GPool are being finalised. The new team will make announcements with assistance from the GPool team via the GPool Telegram and Twitter channels in the coming weeks. During this transition phase, the GPool Telegram channel will become an announcement-only channel to ensure easy access to critical information. The GPool team wishes everyone all the best with the new team, and we believe this will be the best solution for everyone involved, particularly you, the investor.

We want to clarify a few recent questions relating to Raise Finance. Several months ago, Genesis Pool held a vote for all Raise Finance investors to either cancel the raise or distribute the funding. The vote outcome was to distribute the funds. All investors should sign up for the mailing list and follow Raise Finance socials to keep up to date with progress.

We can provide a development update, being we have made significant progress and believe we are only weeks away from having a beta version of the new platform available for testing. The new system completely automates the application and fundraising process, providing significant power to investors to question projects and decide if they will get funded.
We are incredibly excited to see the new system coming together and are in discussions with several projects to be the first to trial the new system.

A brief update, guys.

The staking issues some people experience when claiming tokens are now fixed.

The new system development is progressing well, and we hope to have a beta version of the new system to demonstrate over the coming weeks. We have been in talks for a potential new partnership that could be lucrative for GPool and set things on a new path. We would love to share more, but discussions are ongoing, and we are unable to share details publicly at this point. We would hope to be able to share more information on this new partnership in the coming weeks, and we will inform the community as soon as we are able.

Monday update, guys!

The Genesis Team has evolved over the last few months, with some new members joining. The team's new members are driving the current development that is underway. The new system will allow for a complete change in operation for Genesis Pool moving forward.

The team is very committed to seeing Genesis Pool through this bear market and coming out with an amazing and unique product offering. The screenshots of the new system we shared a week or so back is under construction. As we get a bit closer to completion, we will be able to share a delivery date.

When the new system is complete, we will begin running IDOs again. We are presently coordinating the timing of the new development and new projects who are looking to launch, so we can hit the ground running.

Concerning recent questions on listings, CMC only lists the price history for coins that reach a threshold of trading over a certain period. When trading levels fall below the threshold, the price history stops displaying. When the trading volume again reaches the threshold, the price history returns.

We agree that it is essential that, as a launchpad, we run IDOs. We have more than twenty projects currently interested in running and IDO, some of them look very interesting, and we are very keen to facilitate them. We have debated moving forward with these IDOs with the current digital infrastructure, although we have chosen not to for the following reasons:

• Running an IDO with the current system requires a separate MOU, complicating things as the processes differ from the new system.

• Running IDOs with the current system doesn't provide as much security and protection for the community as we would like.

• Running IDOs will slow down the delivery of the next development stage as running IDOs is currently labour-intensive.

• Running IDOs now will mean running fewer IDOs in the long run, as the new system will allow us to present far more project opportunities.

There are other reasons but ultimately, getting the new system up as quickly as possible is our top priority so we can run more IDOs.

We can share some preliminary screenshots of the new system that demonstrate the following:

• Projects will have a secure login and detailed CMS for managing their project details, status and progress through the IDO process.

• An online community AMA (Q&A) to allow the community to communicate directly with project leads.

• An automated KYC process facilitated via the Fractal API.

• We will automate project application fees facilitated via the purchase of GPool tokens.

• A two-stage application process with community participation and voting weight based on membership status

*Attached are the screenshots of the designs we created and might change as the platform develops.

We will share other new system elements shortly, but the screenshots and explanations should demonstrate the direction and scope of the new system. The development is substantial and will completely change the current processes and facilitate a far greater volume of projects.

The delivery timelines are currently getting finalized, and we will provide more details shortly.

When Genesis Pool launched a little over one year ago, our first tag line was:

'A new era in decentralized launchpads'

While plenty has happened in the first year of operation, the founding idea of being decentralized, automated and putting the power in the investor's hands is still at the forefront of the vision.

Soon after the initial release of the first web app, the team was conflicted on whether we should begin stage two of development on Ethereum or wait for other networks to launch. We designed many elements of the launchpad (such as the staking platform) to be cross-chain, although the backbone of the launchpad that automates essential processes would need to be built on one chain initially.

We decided to launch the staking platform first as it was critical to the core vision of Genesis Pool and could get built as an independent module separate from the launchpad. With the Gold Silver, and Bronze Genesis-Pass, the staking platform provides the format for all governance decisions and vote weighting in the system.

While there is still some debate on the perfect chain to build our launchpad infrastructure with, there is consensus that we need to move forward and complete the original vision of becoming automated, decentralized, and putting the power in the hands of investors.
We have received immense support from the Glitch team. The initial plan has always been to build on the Glitch network when they go live. All blockchains progress through cycles of adoption and stability, and we believe it is in the best interest of Genesis Pool to build on a well-established chain first and then consider other chains in the future,

We are investing our efforts and continuing development on the Ethereum chain following its successful merge upgrade on the Beacon Chain. A successful deployment on the EVM will allow us to swiftly expand to other EVM and Substrate-supported chains in the future. We wish Glitch well for the upcoming Mainnet launch and hope it achieves the goals it has set for itself and will continue to follow the progress closely.

This new development will allow for the following:

•. Automate an application process for all investors
•. Encourage the purchase of GPOOL from projects and project communities
•. Automate governance processes, including billing and fees
•. Allow a project to present itself to the Genesis Pool Community
•. Automate KYC via our KYC partner Fractal
•. Provide better security and protection for investors
•. Automate community-led AMA sessions
•. Automated project governance and community approval for all IDOs

The new Genesis Pool launchpad development will be unlike anything on the market or in the crypto space. The system will provide unrivalled automation, security and scrutiny to all projects and allow us to present a much larger volume of projects to the community. The design of this first phase is complete, and we will release screenshots and delivery times shortly.

Hey guys, to provide a minor update, we will launch the rebranded staking platform this week. The update won't change any functionality and is purely to bring the look in line with the new branding. As we mentioned last week, we are currently updating our systems, particularly the application process for projects. This update will be fairly significant. We will provide more details on this shortly.

The team is currently heavily invested in the development of our online infrastructure. We're all working hard to transition manual tasks to automated tasks wherever possible.

We mentioned in our previous communications that Genesis Pool is not centric on a single individual or communication line. We're all focused on transitioning to a complete DAO.

The previous IDO experience demonstrated to the governance committee that we must stiffen our process to provide investors with as much protection as possible. One level of governance is not enough to filter through and find legitimate projects.

Our next system release will focus on the project application process. The application process will form the first stage of defence but will allow the community to see and access the many projects that apply to launch on Genesis Pool (currently about 20).

A project wishing to raise funds via Genesis Pool will need to qualify through a three-step process such as:

1. Applicant Process
2. Governance Process
3. IDO (Fundraising)

The automation systems and the Genesis Pool community will be integral to a project progressing through each stage and reaching IDO funding. With the community integral in the procedure, We are planning generous rewards for community members who get involved in the process.

We are in the final stages of planning and will provide more definitive timeframes and details shortly.

We are happy to bring you some exciting new announcements! To start with, GPool (now officially Genesis Pool) has launched our all-new website. You will notice a few changes when you check it out. We have rebranded with a new logo, colour and name. Genesis Pool has always been our name, although we have now formally adopted the title. With so many changes to our operating and governance procedures in the last few months, we felt it fitting to commemorate these changes with a new look!

The new website allows us to conduct our governance procedure for all IDOs moving forward. The website provides detailed information on the projects, enables the community to vote and provides the vote results transparently on the project page. The new site moves us closer to our goal of being fully automated and run by the community.

To coincide with the launch of the new site, we are bringing you a new IDO. Crazy Cactus, a GamiFi, Play-to-earn, NFT Marketplace and Staking Platform. The new IDO is a collaboration with the launchpad CyberFi. Please jump onto the site, read about the project, check out their socials and get ready to vote. We will have an AMA with the Crazy Cactus project leads shortly. The voting will be open between:

Vote Opens - 24th August 5:00 pm UTC
Vote Closes - 29th August 12:00 pm UTC

Please remember that a 'Yes' vote adds you to the allow list, so please only vote 'Yes' if you intend to join the IDO. If the project is successful in the voting stage, it will move forward to the fundraising stage. We only have a small allocation, so please get in as soon as voting opens if you want to join the IDO.

Introducing the second IDO governance proposal.

Play-to-Earn Game, NFT Marketplace, and Staking Platform. A unique NFT rarity system and a valuable NFT use case.

Any wild guesses?

Friday update, guys!

First of all, the Raise Finance vote is now closed. The final vote results are as follows:

Hold for two more months, then decide (8.7%)
Release the funds to Raise Finance before TGE (47.8%)
Cancel the raise and refund the money (43.5 %)

We will be releasing the funds to Raise Finance immediately. TGE is scheduled for October at this stage. Please follow their socials to keep up to date with the project's status and future announcements.

We have also just completed a broader vote on
1) Locking 10% of the tokens held by the core wallet for one year.
2) Burning 2.5 million GPool tokens (3% of total holding)

We had significant participation in the vote, which was fantastic, and the results were as follows:

1) Locking 10% of the tokens held by the core wallet for one year.
Yes = 69.7%
No = 30.3%

2) Burning 2.5 million GPool tokens (3% of total holding)
Yes = 66.6%
No = 33.4%

We will proceed with locking 10% of the core wallet tokens for one year and burn 3% of GPool tokens as per the outcome of the vote. To clarify recent questions about the rationale of locking and burning tokens. GPool's core wallet currently holds less than 18% of the total supply, which is small compared to many other projects. Locking and burning the tokens should increase the value because the community has staked a high percentage of tokens. GPool's core wallet has a small holding that is used only for purposes such as partnerships, collaborations, team/contractors, and liquidity for other chains as we expand.

We have confirmation that GPool has been invited to do a joint IDO in partnership with CyberFi. In accordance with our governance process, the IDO will be put forward for a community vote very shortly. If the ballot is successful, we will move to the fundraising stage, scheduled for early September.

Final Call for Raise Finance investors.

We have had 63.8% of Raise Finance investors vote so far. We will close the vote in 48 hours, so please vote now if you wish to have your say. You must check your email and access the online survey to place your vote.

Hi GPoolers and Raise Finance Investors.

Regarding the Raise Finance vote, we are still waiting for all investors to vote. Amazingly at present, the votes are evenly split between providing the funds to Raise Finance for marketing and development before TGE and cancelling the raise. It appears not enough people wish to wait two more months and see what happens. If you did invest with Raise Finance, please vote ASAP.

Hi GPoolers and Raise Finance Investors.

So far, we have received 50% of the votes cast.

To be able to make a decision, we need 51% of the vote. Therefore, we ask those of you who have not yet voted to do so immediately.

The email for voting has been re-sent. Please contact @Gpool_supportbot if you do not receive the email.

Hi GPoolers and Raise Finance Investors.

Anyone following our social channels will have noticed recent changes to GPools Governance processes. One such change is the requirement for a vote for any project that delays TGE.

In such a circumstance, we request an email explanation from the project. The email allows the project to explain the delay and what action they would like to happen from here.

An email has been sent to everyone who joined the Raise Finance IDO. If you are a Raise Finance Investor, please vote ASAP. Voting will close in three days. Please reach out to us if you didn't receive an email and feel you should have.

Thanks for the feedback and opinions on how the online voting system could work. To get as close to a consensus as possible, we have created an online survey that includes the questions raised recently. Please, jump in and fill this out, so we know how you would like the IDO vote process to work.

https://forms.gle/UpFRqiD5mpr5iCWb9

The results of this survey will not be reflected in the current online voting system but will guide us on what upgrades we will make in the next version.

As previously mentioned, some projects would like to do a raise on GPool. We will be putting forward a project for consideration over the coming days. Please get in and vote when the time comes.

Many people have been asking about GPool and Glitch, and there is nothing new to report here. Glitch is busy preparing to launch their network, which we understand should be ready later on in the year, and GPool has been busy changing our governance processes. Like many of you, we are eagerly looking forward to the launch of the new Glitch Network. Please read the newly released white-paper for more information on this and many other topics.

Hey guys, we would like to update you on all things GPool.

For those of you who joined the Raise Finance IDO, as they mentioned, they are doing an audit preparation and will start launching preparation after the audit and private/ public sale campaigns. The priority is to give the launch the best chance of success in challenging market conditions. They will actively communicate their progress with the community. Please feel free to put your ideas and questions forward for discussion on the Raise Finance launch.

As mentioned last week, we have some exciting projects that would like to launch via GPool. The partnership with the KYC provider, Fractal, has been finalised. All future IDO project teams will go through a mandatory KYC process. This process will give the community transparency into the people behind the projects.

We also have our online IDO voting portal ready for launch. The next IDO we run will go through our online governance process to ensure every future project launched via GPool has the community's backing. There are projects eager to launch now, although they are understandably hesitant on the timing with the crypto market in a bear state.

We have heard people on the chat are upset about the current market conditions and the situations of some past IDOs on GPool. The disappointment is shared but not something we have control over. We have looked to improve our processes where we can, but we will never be able to control the market or how projects operate after a launch.

It is incredible to know that it is now ten months since GPool launched. For such a short time, plenty has been packed into the journey. We have taken stock of what has happened to date and written an updated whitepaper. The whitepaper lays out where we see GPool fit into the landscape, which is to be a community-driven launchpad designed to benefit investors. You can read the updated white paper here.

Part of being a community-led launchpad is to include the community in the running of GPool. We are mindful of not having one person being the voice of GPool or getting bogged down in unaccountable bureaucratic governance processes. With this in mind, we are in the process of setting up a governance committee. The governance committee will ensure the day-to-day operations are smooth and essential decisions are put forward for consideration to the community. The governance committee will consist of fellow GPool and IDO investors.

We intend to come through this bear market in a great position, with lessons learnt from the past and the technology and processes in place to be a vibrant, robust, exciting investment community that funds and shares in the success of tomorrow's best ideas.

✅The 2nd Round of Raise Finance IDO Has Been Completed 🥳🥳

Congratulations to those who were able to participate in the IDO 2nd Round for Raise Finance Private Sale.👏👏

🚀🔜LAST CHANCE, ONLY 3 HOURS TO GO‼️

The Round 2 Raise Finance IDO can only be transferred BEFORE 6 AM UTC, so don't miss out. ⏱

Reminder: Those who fail to send the funds designated for Whitelisting will be demoted.

⏱JUST 12 HOURS LEFT‼️

Congratulations to everyone who made it onto the whitelist for R2 for Raise Finance!

Let's make a transfer right away before the deadline arrives.

🚨Raise Finance IDO is LIVE🚨

Please keep in mind that there are just 24 hours left to arrange your transfer.

Reminder:
The demotion rule applies to those who don't send the funds that were allocated on Whitelisting.

⚠️Round 2 for Raise Finance IDO IS LIVE⏳

Please don’t wait until the last minute, you have until 16th June to arrange your transfer

Reminder:
The demotion rule applies to those who don't send the funds that were allocated on Whitelisting.

Ps. Kindly check your email if you shortlisted in this round