After a busy few weeks, we have now nearly finished distributing the majority of Genesis Coins to the community. Airdrop 3 concluded over the weekend and we are now preparing for Airdrop 4 which is set to be our biggest airdrop yet.
As well as Airdrop 4, there’s some other important announcements and information that we want to share with you in this update.
Our final Airdrop will go live on Sunday November 19 at 8pm UK time. And it’s going to be a huge one too.
Originally, Airdrop 4 was supposed to be for 1250 people receiving 2000 GEN each. However due to us being unable to fulfil the maximum number of places in Airdrop 2 and Airdrop 3 as a result of people not filing in forms correctly or meeting the requirements, despite allowing far more applications than places, we have a surplus of GEN that needs distributing.
That means that instead of the 2,750,000 GEN set aside for Airdrop 4, this Airdrop will now distribute 3,651,500 GEN to 1825 people, with each successful application receiving 2000 GEN each.
As this is by far our largest Airdrop to date and much larger than initially intended, please allow us additional time to check every application, verify them, add them to the spreadsheet and send out GEN. We anticipate that this will be completed by Wednesday November 22 however please allow until Friday November 24 for all applications to be checked and all GEN to be sent.
We will have more details including the rules and requirements for Airdrop 4 in our blog post on Wednesday. Stay tuned!
Airdrops and Our Community
We love our community and we love nothing more than interacting with you guys. We’ve had the pleasure of getting to know some great people and have had numerous discussions about Genesis and crypto in general and it’s been great. Overall we’d say we have an awesome community.
Unfortunately though, there’s a small minority of people who are making our lives hard work and it’s something that needs addressing, especially in relation to the airdrops.
We communicate everything about Genesis and in particular the airdrops, very clearly and on multiple platforms. However we still keep getting asked the same questions over and over again. While that can be frustrating and tiresome answering the same question when we are busy at work, it’s the manner and behaviour of certain individuals that is most disappointing, especially when they do not get the answer they want.
Before asking why your address is not on the spreadsheet for Airdrop 4, we kindly ask that you check the pinned post in our telegram group, read our ANN thread on Bitcointalk and check our Twitter feed. Your question will have been answered there and it would be appreciated if you could check before asking.
Not only that, but it seems that certain individuals believe they are entitled to their Genesis airdrop, despite clearly not meeting the requirements. This has to stop and in future anyone persisting with asking the same question or challenging our responses will be banned as it wastes too much of our time and as developers and members of the project, we deserve a certainl level of respect.
In the last airdrop, we manually checked over 1700 applications with 900 meeting all the requirements and being successful. We then had to check those 900 addresses to see if they had received an airdrop before. We then had to send the airdrop to all of those addresses. The team completed this is in less than 30 hours. It takes a lot of time but we feel it is worth it to ensure that the airdrop is as fair as possible and that we catch as many cheaters as can be expected. That’s the reason why we have one of the toughest airdrops to get into.
Please make sure that you read the requirements and ensure that you meet all of them for Airdrop 4 before applying. If you do not meet one of the requirements, your application will get rejected. Equally, it is important you take your time filling out the form and make sure you post the correct links. There are lots of places so there is no need to rush your application.
If you would like help to make sure you’ve met all the requirements or help finding the correct links to add to the form, please feel free to ask any member of our time to check for you. We will be more than happy to help up until Airdrop 4 goes live.
We always get asked when will we be added to another exchange and now we can finally give you some good news! We’re pleased to announce that Genesis has now been added to IDEX and can be bought and sold on the exchange.
IDEX is an excellent exchange and is definitely one that you should consider joining. It’s growing fast and they have several features that make it stand out from other exchanges. Here’s a very useful guide to help you get started on IDEX.
I thought I would end this weekly update by providing some figures and facts about Genesis. I found them interesting and I hope you will too.
So far there are 1607 holders of Genesis with the top 500 holders of Genesis accounting for 84.62% of the total supply. That’s just over 13,500,000 GEN.
However, only 10 out of those 500 top holders are in the possession of more than 100,000 GEN each and at least half of those accounts are owned by the Genesis team for the airdrops, bounty, prize, development and marketing funds.
By the end of the final airdrop, there will be over 3500 holders of Genesis with the top 500 holders accounting for a lot less of the total supply. I’ll update the figures in the next weekly update after the final airdrop.