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Timeline & Details
A genesis pool, also known as a mining pool, is a smart contract opened by a protocol to secure specific funds for later use within that protocol. To incentivize initial deposits into these pools, protocols often collaborate with blockchain foundations and partners, offering additional tokens as incentives. After the genesis period, participants can still provide liquidity to the pools and earn interest based on the pool's rate according to the interest rate model.
Tashi will launch Genesis Pools for $EVMOS and $ATOM on June 15th, 2023. Stakers can deposit their lending receipt tokens (ctokens) until July 24th to be included in the genesis pool. Stakers have the choice to remain in the staking contracts until 90 days post deposit period to receive the maximum reward amount, and the remaining rewards will be distributed proportionally. Participants in Genesis Pools are protected if the price rises and can withdraw if the price falls, benefiting those who remain. Two separate staking contracts will be available for EVMOS and ATOM, funded with TASHI for esTASHI rewards, totalling up to 2.5% of the token supply. Genesis Pool block rewards are 100% in esTASHI.
Genesis Pools will be open on June 15th and close on July 24th.
Depositors are earning block rewards in esTashi which will be released linearly over three months following the close of the pools on July 24th, 2023 post deposit period.