Hello, Genesis Vision community!

While we have been busy at work testing and improving the Alpha Platform, we have also been working on developing Genesis Markets. One of the most frequently asked questions we receive is “How will GVT be used in Genesis Markets?” As a community driven project, it is important that we incorporate the feedback from the community into development of Genesis Markets. We have proposed three options on how GVT will be used in Genesis Markets, and your votes will determine which approach we will take.

We have three options:

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 at 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.

There are advantages and disadvantages to each option. Feel free to discuss the pros and cons of each option in the Telegram group or the Genesis Vision Subreddit.

A concrete option will be chosen by GVT holders by voting based on smart contracts. The vote will be conducted from 23 April to 30 April. All GVT holders can participate. The weight of the vote will be determined by the share of GVT in each wallet.

A detailed voting guide will be published soon.

A few key points regarding the upcoming vote:

Only GVT holders can participate.

To vote, your GVT must be in your wallet(MyEtherWallet or Metamask) until Voting concludes.

If you store your GVT on an exchange, you will need to withdraw your GVT to your wallet to vote.

If the tokens are transferred from your wallet before the voting period ends, your vote will not be counted.

Final voting results will appear at 30 of April, 2018.