Genius Season 2 Concludes, Introducing Token Burn and User Refunds
Genius has officially wrapped up its second season of activities. The platform distributed a total of 173 million GP rewards, falling short of the initially projected 200 million. The season's conclusion triggers a significant phase involving user refunds and a deliberate reduction of the token supply.
Full Fee Refunds Paired with Token Burns
A five-day special window is now active for all participants. Users who opt to claim a refund will receive a 100% reimbursement of all fees paid to the platform during the season. Crucially, the GENIUS tokens corresponding to these refunds will be permanently burned and removed from circulation.
It is important to note that choosing this refund path means forfeiting all GP rewards earned throughout Season 2. All GENIUS repurchased through this mechanism will be sent to a burn address.
Options for Non-Refunding Participants
For users who do not seek a refund, a subsequent five-day processing window will open. They will be presented with two distinct options for their airdrop allocation:
- Immediate Unlock: Claim the airdrop immediately, subject to a substantial 85% deduction.
- Long-Term Vesting: Lock the tokens for a 24-month period to receive the full 100% of the airdrop allocation upon completion.
Impact on Token Supply and Automatic Burns
The 173 million GP distributed this season represents a maximum potential claim of up to 6.055% of the total GENIUS supply. Any unclaimed portion of this allocation (approximately 0.945%) will not be released but will instead be automatically destroyed by the system. Combined with the burns from the refund process, the end of Season 2 is designed to exert a deflationary pressure on the overall circulating supply of GENIUS tokens.