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Genesis Vision and its GVT token: A starter's guide

Genesis Vision and its GVT token: A starter’s guide

5 (100%) 8 votes

Genesis Vision and its GVT token present a unique solution for people who suffer from overbearing limitations and a stagnant environment. Brokers and account managers currently have large barriers to entry, which often prevents investors from changing managers much less changing brokers.

Genesis Vision is developing a decentralized platform which onboard not only investors but also brokers and managers — asset keepers as well as their trading history, at least part of it — onto the blockchain.

Genesis Vision: Need to know

Adding brokers, asset managers, investors, and more on the blockchain through the decentralized Genesis Vision platform will allow investors to review much of a given broker or manager’s portfolio. In the event an investor becomes dissatisfied with their manager, they can simply terminate their existing contract and create a new one with a new manager.

How does Genesis Vision work?

Genesis Vision can be applied to wealth management, portfolio diversification, and near-endless other market needs at a lower cost than traditional brokerages. Trust has long been a pillar of the broker/manager ecosystem, but blockchain technology exists to remove trust from the equation.

Following integration with MetaTrader, Genesis Vision will help users take responsibility for their own funds inside of a wealth management platform.

GVT technology

Genesis Markets is an integrated exchange for managers to offer their unique tokens in exchange for GVT. Investments can be redeemed at a value which is equal to the investor’s share against the USD (U.S. dollar) at the time of exchange. Because each manager has their own unique cryptocurrency, users can see transaction history and form an expectation based on the strength of the manager’s currency. Investment returns are handled in the following way:

Initial investment = 10 GVT ($10 per GVT)
Expected return = 25% after one month
Funds received = 10 GVT ($12.50 per GVT) one month later
Value of investments is calculated based on the USD value of GVT being used, counted at the time of the transaction.

Genesis Vision intends to integrate Genesis Markets with various crypto exchanges to provide a single view of multiple markets in one display.

It also intends to integrate withMetatrader 4&5, which is a Foreign Currency Exchange (ForEx) platform that allows users to communicate with a community of experienced traders and asset managers, as well as purchase insights from successful traders. MetaTrader also allows users to lease virtual server access in order to carry out their trades with less delay between sending their order and order fulfillment.

This may not make a large difference for some, but it can be a considerable improvement for others, depending on their local infrastructure. By integrating with MetaTrader, Genesis Vision can gain access to a diverse user-base as well as a substantial number of traders, managers, and data from previous trades on the MetaTrader platform.

Genesis Vision roadmap

GVT token and wallet

Genesis Vision token is expected to be blockchain agnostic, with a similar use to Ether, as the fuel for transactions between asset managers and investors. Each manager will have their own unique cryptocurrency which can be purchased using GVT. Once users have reached the end of their obligation with the manager for a given amount of funds, the invested funds will be redistributed to the investor at the amount they have gained, measured against the USD, not against the GVT.

GVT token sale

GVT was sold in a token sale November 2017, the company raised approximately $2.9 million, selling a grand total of 3,327,482 GVT. Including any tokens reserved for the team or other allocations, there are only 4,436,643 GVT in existence. All of the unsold tokens were slated to be burned, and the token withholdings were adjusted based on the number of tokens sold.

 

Genesis Vision token GVT allocation of funds

The GVT token sale lasted one month running from October 15, 2017, through November 15, 2017. Early participants received a bonus on the tokens they purchased, starting at 20 percent for the first three days, and falling by five percent each week of the Token sale until a minimum of 10 percent bonus was reached. This bonus tier lasted for the remainder of the token sale.

GVT is based on the ERC-20 token standard, a fungible crypto-token with no unique identifying properties from other GVT. Each token is the same as all the others created by the smart contract. Notable attributes of GVT include:

  • Mint (the right to create new tokens)
    • Create tokens disabled
  • Burn (send a token to a one-way wallet, to which no one has the private key, rendering them useless
    • Burn all unsold tokens
  • GVT value
    • $1 per token base price during the token sale
  • Team reserve vesting (team members will not receive their allocations until the agreed upon date
    • One year vesting period

Genesis Vision review

Genesis Vision has notable goals and a strong addressable market, but like all other projects, they have their work cut out for them.

Strengths:

  • The addressable market is larger than $70 trillion.
  • The market is ripe for disruption due to the sluggish advancement of entrenched competition.
  • Customers want the right to choose but struggle with choosing due to large entry and exit barriers.
  • Lower cost of operation than competitors because blockchain removes some of the trust-related aspects of trading through the GVT as opposed to traditional markets.
  • A scarcity of funds raised in GVT token sale may force more innovative thinking and problem-solving.
  • Ambitious but achievable roadmap.
  • It’s a well-rounded team.
  • They recently released (Q1 2018) product alpha.

Weaknesses:

  • Entrenched competitors have large amounts of sway over asset managers as well as customers.
  • Much of the market is currently absorbed by entrenched competitors.
  • The project failed to raise 10% of their hard cap, sentiment may be weak for the project in the short-to-medium-term.
  • The project addresses some pain points for existing investors, but still requires outside trust, resulting in potential bottlenecks at the broker-level.
  • No working product at the time of their Token sale.

Genesis Vision final thoughts

Cryptocurrencies and their underlying blockchains have begun an avalanche of innovation and disruption in many too-big-to-fail sectors. Banking, Transportation, Supply chain, and financial management, which includes market speculation, lending, and more.

The blockchain industry itself has taken root in many traditional industries and the combined efforts of the sector have begun to sew the seeds of change for other industries. It is this rapid change to a new standard that will measure the growth of blockchain. On that front, sentiment for blockchain remains strong.

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