Genesis Vision : Culture | Community | Governance | Tokenomics | Roadmap


We’re building a game that’s not for profit, and will last for 100 years. That requires a whole new way of thinking about funding and resources. Instead of going to a bunch of venture capitalists, who would happily sell Genesis for parts in 10 years, we’re self-funding the initial development of Genesis.

This self-funding will continue until Genesis gets off the ground and can use its own funds to become self-sustaining. The money required for ongoing development is generated through mining the GENESIS token, and delivered to the not-for-profit Genesis Foundation, who will use it to best drive the long-term success of the game.

Tokenomics 101

Genesis runs on two tokens: GENESIS Tokens (ERC-20), for governing the entire game, and powering the economy, and Mining Claims (erc1155 NFTs), for governing individual worlds within the game.

Each World will be represented by a group of Mining Claims, with each represented by a 3d model of the world itself. Holding Mining Claims over time allow their owners to participate in world governance, own Land within the World, and mine GENESIS ERC-20 tokens. The more Mining Claims you own, and the longer you hold them for, the more GENESIS you mine.

GENESIS Tokens are the governance and economic token for Genesis, allowing holders to guide the direction of the universe, and make transactions within the game. GENESIS holders also benefit from activity in the Genesis universe, such as burning GENESIS during Land sales, as well as buying and selling in-game items, NFTs, and access to in-game events.

GENESIS can only be mined by holders of Mining Claims, and earned by participating in governance or providing liquidity. This is a 100% fair launch model, with no special deals, discounts, or special treatment for whales, and no tokens set aside for the team, advisors, or anyone else.

Token Flows

This diagram shows the flows of tokens across all aspects of Genesis, showing the ways you can earn GENESIS - farming with GAME, holding Mining Claims, in Governance, and via Land sales.

Fair Launch Emissions

All distributions of tokens are done using a fair launch model, with no tokens set aside for the team, investors, advisors, whales, exchanges, etc. The only way to acquire GENESIS, Mining Claims, or Land is to pay market price.

The only groups that will receive GENESIS are the world owners, participants in governance, and the Genesis Foundation, to drive ongoing development, and liquidity providers on decentralized exchanges, to ensure a smooth market for GENESIS. There are zero (0) GENESIS set aside for:

  • The Game Credits team
  • Any members of the founding team
  • Any employees of the Genesis Foundation
  • Any advisors, marketing partners, influencers, or investors
  • Any exchanges

Further, there are no under-the-table or over-the-counter sweetheart deals for whales, investors, or friends. The only way to acquire GENESIS is to pay market price for it, or pay market price for a world token.

GENESIS Tokenomics

GENESIS (ERC-20): The GENESIS ERC-20 token is the fundamental building block of the Genesis Multicreator Gaming Universe. GENESIS is delivered using fair launch principles - every GENESIS will be delivered to the community, whether by farming, mining via Mining Claims, or earned by participating in governance, liquidity, or content development. There are no special deals, and no tokens set aside for the team, advisors, or anyone else. You can see the split here:

Chart showing the split of GENESIS emissions among all recipients

To farm GENESIS, stake GAME in the farming contract. The longer you stake your GAME, the more GENESIS you'll farm. 50M GENESIS is set aside for this purpose.

To mine GENESIS, simply hold one or more Mining Claims in your eth address. The longer you hold the Mining Claims, the more GENESIS you'll mine. GENESIS mining starts one week after the first world sale.

GENESIS can also be earned through staking GENESIS in the governance portal. This incentivizes the community to participate in governance, and also to think long-term about the project. The earned GENESIS will be split among all governance portal members. Earning through governance starts four weeks after the first world sale.

The amount of GENESIS emitted through mining and governance is limited by the number of Mining Claims owned and the length of time the Mining Claims are held. There is no end date for the emission of GENESIS, but the emission follows a logarithmic curve, and so emissions reduce naturally over time.

Given the amount of GAME available, the limit on the number of Worlds, and the bonding curves, the expected total supply of GENESIS created over the first 100 years is 1 billion GENESIS.

Chart showing emission of GENESIS over time

The Foundation will not burn the GENESIS it owns. But, it will most likely escrow and time-lock large portions of that GENESIS to reduce circulating supply, and maintain resources for the long term. The mechanics of this time lock will be left up to the Foundation and the community, and may change over time.

GENESIS Token Launch

Of the 1 billion expected total supply of GENESIS, 50 million, or 5%, will be set aside for the initial GENESIS farming pool.Another 50 million will be set aside to drive decentralized exchange liquidity, reward early community members. The remainder will be released over time to Mining Claim holders and Governance stakers.

GENESIS Farming: 50 million GENESIS will be placed in a pool, where community members can stake GAME to earn GENESIS.

Liquidity Incentives: 10 million GENESIS will be used to create and incentivize initial liquidity in a GENESIS-USDC pair on QuickSwap (Polygon), providing both a small initial pool amount, and a larger liquidity incentive for that pool, encouraging the community to keep the pool large enough to support high trade volumes. Because QuickSwap pools are all linked, this pool allows you to buy GENESIS using any token you own.

The liquidity incentives are designed to deliver a steady rate of 250% to 300% APR, and will last for 3 to 9 months, depending on the amount of GENESIS added to the pool.

Community Incentives: 10 million GENESIS will be used for community incentives between now and the end of 2022, such as rewards for involvement, contests, content, and more. Our most valuable community members are creators, designers, and organizers. For many, this will be their first experience in a crypto project. For many more, they may have only minimal financial resources. It’s important that early community members have access to GENESIS, so we’re creating this incentive to ensure the community can reward its most creative, prolific, and fun members.

Future Liquidity Pools: The remaining 30 million GENESIS is set aside for incentivizing additional liquidity pools. The pools and incentive amounts will be chosen by the community; likely pools include ETH-GENESIS on Uniswap and USDC-GENESIS on QuickSwap. Multiple trading pools ensures GENESIS will trade against a basket of currencies, and reduce price fluctuations. It also makes buying more attractive for users of those currencies.

World Tokenomics

Mining Claims (ERC-1155): Mining Claims are bonded NFTs that grant their owners the right to participate in governance for a specific in-game World. We expect a total supply of between 500 and 2000 Mining Claims for each World. Mining Claim owners also mine GENESIS on an ongoing basis.

Mining Claims are bought and sold using the existing GAME Credits ERC-20 token. When you buy a Mining Claim, your Game Credits are held in a smart contract, and you receive a Mining Claim NFT. Later, you can redeem GAME Credits by selling the Mining Claim back to the contract at the current market price. Using GAME in this way also puts a hard limit on the number of Mining Claims that can be bought, and therefore also limits the total emissions of GENESIS. This ensures that whales can't come in and skew the supply.

The price of a Mining Claim is determined by a bonding curve that depends on the number of Mining Claims that currently exist for a given world. As the chart below shows, the curve is very shallow, with the first NFT costing 200 GAME, while the 1000th costs 800 and the 2000th costs 2000. The bonding curve also allows you to sell back your Mining Claim based on the number of NFTs that exist, giving you instant liquidity.

Chart showing the price of each Mining Claim at different purchase amounts

To control both the number of worlds available, and the maximum supply of GENESIS, the maximum number of worlds available increases slowly over time, with 24 available at launch and 1 more available every 30 days.

To reduce the incentive for people to use bots to immediately buy large quantities of Mining Claims at the lowest possible prices, the World smart contract sets the minimum price of a Mining Claim over the first hour of the sale of each World. The minimum price is set at 2000 GAME, so a user who buys in the first second of a World sale pays 2000 GAME, no matter whether 1 or 2000 Mining Claims have already been sold. Because the minimum price drops over time, it's better to not buy in the first seconds of a World sale, but instead buy some time during the first hour.

Land Tokenomics

Land Deeds (ERC-721): Land Deeds are NFTs that allow their owners to build structures and host events. Land Deeds are bought in GENESIS, and are available for a fixed timeframe. Half of the GENESIS spent on Land is burned, reducing the supply of GENESIS. The other half is granted for use by the world owners of that world. In addition, world owners will receive one Land per world share at the time of the land sale, and the Foundation will own an equivalent amount of land, to be used for community buildings, events, and supporting top creators.

The Foundation will not receive any GENESIS from the land sale; the land sale contract will burn 50% of all GENESIS received in the land sale. The remaining 50% will be placed in a development fund that can be used by the world-owners to build and improve features for that world.

In-Game Item Tokenomics

Items: Other in-game items are NFTs that can be bought and sold in GENESIS. These can be bonded (ERC-1155) or normal (ERC-721) items, or use new standards that have yet to be identified. In general, 90% of the purchase price goes to the item’s creator (or is split between groups of creators), and 10% goes to the foundation to fund continued development.

< Governance | Roadmap >