On June 1, 2018, GENEXI Biotech Accelerator will launch the sale of its utility token, GEN, which is essential for operating in the GENEXI ecosystem.
The GENEXI ecosystem is a decentralized platform aimed at supporting innovative projects in the biotech industry, as well as distributing biotech products under GENEXI’s quality seal. This is a niche, secure digital space for all interactions between manufacturers, distributors, and retailers of biotech products. High-tech, blockchain-based solutions ensure absolute transparency of the entire supply chain, from manufacturer to end seller, automate the majority of the supply system, eliminate middlemen and guarantee protection from counterfeit and fraud.
GENEXI platform offers an innovative solution for the e-commerce market which will facilitate cross-industry operations within the whole ecosystem. Biotech producers can focus on expanding sales of their existing products and significantly cut the production and distribution costs by creating mutually beneficial partnerships with distributors through multiple channels of interaction.
All transactions within the ecosystem use GEN tokens. GEN token is an efficient payment method and transaction engine of choice. It is an ERC-20 standard utility token which enables economic establishment of the GENEXI platform. GEN token will let users procure various services and buy the products of projects that have been successfully launched within the platform. The main objective of GEN is value creation, and to make that happen, there needs to be a specific linkage between user actions and the resulting effects. GEN tokens can be described as a lifeblood of today’s emerging online economies, motivating and mobilizing participants to collectively provide an integrated set of solutions, while sharing the same database, user base and currency.
Current limitations on international money transfers will not apply to the GEN token. The ecosystem will allow any participant to scale up, thereby increasing token liquidity. Platform features also allow for its members to exchange GEN tokens amongst themselves.
GENEXI’s tokenomics was developed with the help of project advisors Anti Danilevski, head of the largest Russian crowdfunding community and a blockchain expert, and Roel Wolfert, the founder of Qoin, a well-heeled expert in ICOs, management consulting, venture capital, banking, IT, and marketing.
“I think the most important thing for a token is to be in demand. The value of utility tokens is set by the audience and can remain in place, creating high rating on the market. I believe that GENEXI creates beneficial biotech products that are capable of solving problems on a global scale. With my own experience, I can say that these products work. And as long as there is a supply of them, there will be a demand,” comments Anti Danilevski.
GENEXI analysts predict that with growth among manufacturers and in the number of distributors, the GEN token will become a multifunctional instrument on the global market, allowing more and more participants to join the GENEXI sharing economy.
The project’s ICO will last two months, until July 31, 2018. In that time, GENEXI plans to raise 20 to 70 million US dollars. Twelve billion GEN tokens were issued in total, 70% of which will be made available as part of the initial offering. Funds raised will go toward issuing grants to promising biotech projects, as well as toward research and development of the ecosystem and biotech products.
More information about the project is available on its official website: https://genexi.io/
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