Weekly Update: January 22– Genesis Lottery, Moderators, Development & Exchanges

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A lot has happened over at Genesis HQ in the past week and so far 2018 has got off to a solid start. There’s a few announcements we want to share with you as well as providing an update on the exchange situation. Let’s dive right in!

Genesis Lottery

We’re pleased to announce that from this week, you’ll be able to purchase a ticket for the Genesis Lottery using either Genesis Points or Genesis Coins! The draw for the lottery will take place every Friday evening at around 8pm UK time.

There are two ways you can purchase a ticket. One of the ways is to buy a ticket with your Genesis Points that you have earned on the Genesis Forum. This can be done by going to the Store and purchasing a ticket from the lottery section. Each ticket costs 300 Genesis Points and you can buy as many tickets as you want.

The second way is to purchase a ticket with Genesis Coins. You can do this by sending 300 Genesis Coins to a wallet address provided here.

All tickets for that week’s draw must be purchased before 7pm UK time on the Friday. Any

If you purchase a ticket with your Genesis Points, your username on the forum will be your ticket entry. If you purchased using Genesis Coins, the wallet address that you sent the Genesis Coins from will be your ticket. If you purchase more than one ticket, you will be entered as many times as the number of tickets you have bought.

More information regarding the Genesis lottery, including the prize pool and results, can be found here.

New Forum Moderators

A few weeks ago we announced that we were looking to recruit a few moderators for the Genesis Forum to help us enforce the rules and ensure that the forum is a great place to be, especially as we’ve continued to grow the community and our user base.

We received lots of applications and would like to thank everyone who applied for the position. After some careful consideration we finally came to a decision and have appointed two new moderators.

These are Nefarious and Somasoma. You will hopefully already be familiar with them as they have been active on the forum pretty much since the start. We are excited to work with them but ultimately we hope that it will help provide the best possible environment for our community.

Development

Our web wallet is inching closer to completion which is great news. There’s not much more to report with regards to the web wallet as it’s nearly ready to release.

Once we release the web wallet, we will consider what our next development project will be for Genesis. You can track the progress of what we are working on by checking the roadmap on our website.

We continue to do research regarding our own blockchain and what would be the best way to go about it. There’s a lot to consider and depending on what our next project for Genesis will be, research may continue for the foreseeable future.

Exchanges

Last week we reported that we had made another application to be added to a new exchange. Since posting last’s week blog, we received a reply from the exchange stating that they are no longer able to list new tokens due to the current high gas costs on the Ethereum network. We are also still waiting to hear back from a second exchange but as of yet there is nothing new to report.

A number of exchanges have also been recommended to us with Bit-z being one of the names that has popped up most frequently. We are looking into their process of adding new tokens on their exchange and will look to proceed further with this over the next week.

As has been discussed often, one of the biggest hurdles to getting added to a new exchange is the listing fee. Not only that, but the medium to large exchanges often have requirements that need to be met on a monthly basis to ensure that you do not get de-listed. These include meeting a minimum trading volume. That’s another potential hurdle as it would not make sense paying the price to get listed only to get de-listed down the line due to not enough trading volume. Therefore we are trying to targeting small to medium exchanges at the minute.

YoBit is another exchange that keeps popping up and I can confirm that we have submitted our application. To help spread the word and show to YoBit there’s a demand for Genesis and a great community behind it, please help us by retweeting our tweet to YoBit below.