Genie Protocol has announced some important news in the coming months. The most important is the first token listing on a centralized exchange.
— Genie Protocol (@OfficialGenieP) January 17, 2022
Genie Protocol, the GNP token listing
The exchange is Bitmart, which will soon make the GNP/USDT exchange pair available.
Deposits of GNP tokens on the exchange will be enabled as early as January 23, with exchanges starting two days later, on the 25th.
On 26 January, withdrawals will also be enabled.
As Bitmart writes, Genie is a DeFi protocol for buying sets or “funds” of tokens governed by the project’s DAO, and is the first protocol for buying sets or “funds” of native multichain tokens.
The GNP token is precisely the DAO’s governance token, which is used to vote on various decisions on Genie Protocol evolutions.
The total supply is 95,000,000 GNP tokens, and the format used is BEP20 on Binance Chain.
Other listings on other exchanges are expected in the coming months. Currently, the token is already traded on the DEX PancakeSwap v2.
The GNP token debuted on the markets in October last year, at a price of about $2. After a descent that ended on 6 January at a price of just over $0.6, the price climbed back up to close to $2 again on 20 January.
The launch of the mainnet
The second big news is the launch of the Genie Protocol mainnet. The date is not yet known, but it would be expected in the coming months.
The development team behind the project also reports that other important news are coming over the next few months, although they don’t yet say what they will be.