Greetings, GV community!

The time has come to discuss the vote in more detail. Without further ado, let’s jump right into what this vote actually has to offer and why we need it.

What is Genesis Markets?

Genesis Markets is first and foremost a crypto brokerage. A broker is a middleman that provides access to the exchanges and takes care of all the clearing and settlement related to a trade. We think that most of you are familiar with the concept of a broker, but you would be surprised to learn that there are little to no brokers in the crypto space.

If you want to learn more about the advantages of a crypto broker, please feel free to check out this article.

Brokers thrive in conventional markets, so why can’t they exist in crypto?

We are about to change that.

During the development process, the team quickly realized that the aggregation of data from multiple sources through a brokerage can solve a number of infrastructural problems that exist in the crypto space. But the team could not come to an agreement on one very important issue.

How will GVT be integrated in the Genesis Markets model?

This is the “Million Dollar Question” that needs to be answered. How can we implement Genesis Vision Token (GVT) into the Genesis Markets model? What is the best possible way to utilize the token? How can we maximize the benefits to our community?

Well, as a community-driven project we have an enormous advantage — an awesome and passionate community. So we decided to ask you!

We originally proposed three options, and our investors made very strong statements and write-ups in favor of some of the options. We definitely recommend reading what they have to say, but after analyzing all of your feedback, we realized that most of our investors would like to have a combination of the original three options.

You want it — you got it!

What do we have in store for you?

We have 5 different options, all of which have their own unique characteristics. Choose wisely!

Use GVT to reduce trade commissions by 50%.

This model is well known to Binance users and mimics the functionality of BNB. Traders will be able to pay trading commission with GVT at a 50% discount. With the expected growth of Genesis Markets and anticipated increase in the number of active traders, the demand for GVT will like grow with this new utility. HOLD GVT to passively reduce trading commissions — up to a 100% reduction

Trading commissions will be reduced on a tiered basis depending on the size of GVT holdings within a trader’s wallet. The more GVT a wallet holds, the lower the trade commissions will be. The highest tier of GVT holdings will completely eliminate trade commission all together. With this option, traders are encouraged to hold GVT to reduce trade fees passively. The GVTs held in these wallets are never “spent” to provide the reduction in commissions, the benefit and utility provided comes from simply holding GVT. Additionally, GVT holders above a certain tier will also have access to premium platform features such as news, analytics, and signals etc. The quantity of GVT holdings per tier will be dynamic and will be periodically adjusted based on the demand and price of the GVT. Burn 5% of Genesis Markets commission in GVT

Periodically reduce the supply of GVT, thus increasing value of the remaining GVT. Combination of options 1 and 2

Trading commission are reduced at a base rate of 30% when paying with GVT. The more GVT a trader holds the greater the discount a trader will receive. The highest tier of GVT holders will be able to completely eliminate trading fees. Combination of options 1 and 3

Traders may reduce their trading commissions by 50% when paying with GVT and 2% of Genesis Markets’ commissions will be bought back in GVT and burned periodically.

Voting procedure

We originally wanted to make our voting on Ethereum smart contracts. But we identified two disadvantages to this approach.

Participants have to pay for gas Calling smart contract functions can be complex for many investors unfamiliar with it

These factors can decrease participation and skew voting results. Therefore we have decided to make the voting process easier without sacrificing transparency and trust.

We ask that each participant send his or her signed vote via our form https://genesis.vision/vote/

Signatures must be made using the private key from a wallet containing GVT. This is a safe and simple procedure.

Voting starts on 23 April, 15:00 (UTC)

Voting ends on 30 April, 12:00 (UTC)

How to vote

Go over to this section of Myetherwallet: https://www.myetherwallet.com/signmsg.html

2. Write the number of the selected option in the “Message” field(1–5), to indicate your vote to the corresponding option

3. Sign the message

4. A signed JSON will be generated. Copy and paste it into the field on the voting page https://genesis.vision/vote/

5. Check your vote on the votes page https://genesis.vision/vote/#/result

6. Don’t transfer your tokens until the end of voting otherwise your vote will not be counted!

* This is absolutely safe procedure. You do not send us any private data.

How does this work?

A digital signature is a mathematical scheme for presenting the authenticity of digital messages or documents. A valid digital signature gives a recipient reason to believe that the message was created by a known sender (eth address in our case), that the sender cannot deny having sent the message, and that the message was not altered in transit.

For example, when you make a blockchain transaction, you have to sign it with your private key. This is signature serves as proof of the transaction.

When you sign your message (a number 1 to 5) and send it to us, we will have proof that:

The message was signed by your address and not by somebody else

Anyone can verify your signature https://www.myetherwallet.com/signmsg.html

All votes will be public and available at https://genesis.vision/vote/#/result

Tabulation of results

Voting ends on 30 April, 12:00 (UTC).

After that, the votes will be tallied up. All votes casted that meet the following requirements will be considered:

Signature is valid

Wallet contains GVT

The weight of each vote will be determined by the number of GVT in each wallet.

Results will be published at 15:00 (UTC)