$GENE token — Details and GenomesDAO Treasury
30% of GENE supply is being offered to the public in an IDO on miso.sushi.com for 999 ETH on Tuesday 16th November. There will be an AMA with the Sushi team on the same day — More details to follow!
Staking $GENE will be the only way to get your hands on $GNOME directly to become a member of the GenomesDAO and become a healthcare company owner.
There are 3 levels of passive income powered by GenomesDAO
- APRs on your genomic data — Your genomic data is put in a vault, pharmaceutical companies want to query your data — they will pay you in $GENE direct to your wallet if you accept the query*.
- Compounding APRs when you provide liquidity to ETH/GENE or ETH/GNOME pools.
- Staking governance tokens ($GNOME) will cause amplified APRs on your liquidity pools and in the future your earnings from queries.
*Accepting a query allows the pharmaceutical companies to gain access to the results of that single query — eg. Are you a carrier for disease X? And nothing else. No more of your data is exposed.
A fully allocated sale will mean a circulating market cap of circa $5.5m and fully diluted market cap of circa $11m, dependent on ETH prices. If the sale doesn’t sell out, all remaining $GENE will be added to the treasury offered to pharmaceutical companies and research organizations, as detailed below.
The ETH raised in the treasury will be used in 4 ways:
- In LP pools to protect price and earn $GENE and $GNOME for treasury.
- 10% — locked in Alchemix to support genomic diversity in research and provide passive income to underserved populations.
- For development purposes as detailed in our roadmap, including L2 solution scoping.
- DeFi treasury. We feel we wouldn’t be eating our dog food if we weren’t making the most of the amazing protocols out there. We are already working with Alchemix as previously mentioned, as well as two more great protocols that have had incredible years (you will know what they are if you’ve been loitering in our discord).
Upon a complete sale — the $GENE balances will be allocated as followed:
- 30% of tokens are available for purchase for 999 ETH on 16th November on miso.sushi.com
- 30% incentives for liquidity provision
- 6% — Allocated to fully open preseed. Anyone could join and commit. We have 75 early adopters making up the GenomesDAO.
- 5.66% — Folks who supported GenomesDAO over the last 3 years as we built out our tech stack, including the wonderful folks at consensys, who supported us through their 2019 incubator — These will be vesting until January 2022.
- 8.34% — New team incentives and marketing budget (airdrops etc)
- 10% — The founding team who have not taken 1 cent in salaries will have a small percentage vesting over 12 months.
- 10% — Locked away for business developers to sell to research organisations and pharmaceutical companies from 2022 onwards — allowing them to make early purchases and get better value for money and more research questions answered as the token supply decreases due to its deflationary nature.
*If you run a genomic sequencing lab that can offer 30x Whole Genome Sequencing, get in touch, we’d love to speak to you about investing in a way that gives us oversight and governance ina way that supports auditable sequencer to vault deposits!*
If you have any questions about this, or our upcoming public sale, join us in our discord at discord.gg/genomes