Accelerator Program Genius X’s Initial Stake Pool Offering Tops $100M

Stake Pool Offering

Genius X, a Cardano-based accelerator program, has recorded more than $105 million in ADA delegated to its initial stake pool offering by about 14,500 participants.

The move follows the completion of the firm’s decentralized automated market maker and liquidity management protocol, Genius Yield, which completed its ISPO.

The ISPO took place on May 10, with more than 14,500 delegators staking 270 million ADA in four official stake pools to become the biggest ISPOs in Cardano.

Genius Yield is a DeFi on Cardano protocol featuring a decentralized exchange with an order book. The protocol integrates a liquidity provision model that mitigates market risk and removes the impairment loss.

Genius X will be the accelerator program division of the company offering early-stage blockchain firms the tools and consulting services to blockchain-centered companies in the network.

The accelerator program got immense support the week before the ISPO launch on May 15, with more than 205 million ADA delegated.

Source: Cointelegraph

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