Genius said its second season has officially ended, with 173 million GP distributed versus an originally planned 200 million GP. The project also introduced a full fee refund mechanism. The refund window will open at 11:00 ET on Oct. 6 and remain available until 11:00 ET on Oct. 11. Users who choose a refund can recover 100% of the fees they paid to Genius during Season 2, but they will give up the GP earned during the season. Genius said the GENIUS bought back for those refunds will be permanently burned. Users who do not opt for a refund will be able to enter a second five-day window starting Oct. 12. In that period, they can either unlock their allocation immediately with an 85% deduction, or lock it for 24 months to receive 100% of the airdrop allocation. According to Genius, the 173 million GP distributed this season represents a potential claim on as much as 6.055% of GENIUS total supply. The remaining 0.945% will be burned automatically, and any GENIUS tied to refunds will also be permanently burned.
Odaily reported that Genius has officially closed its second season after distributing 173 million GP, short of the originally planned 200 million GP.
At the same time, Genius rolled out a full fee refund program. The refund window opens at 11:00 ET on Oct. 6 and runs until 11:00 ET on Oct. 11.
Users who request a refund can recover 100% of the fees they paid to Genius during Season 2. In exchange, they will forfeit the GP earned in the season, and the corresponding GENIUS repurchased through that process will be permanently burned.
Users who do not choose a refund can enter a second five-day window starting Oct. 12. In that period, they may either unlock their allocation immediately with an 85% deduction, or lock it for 24 months to receive 100% of the airdrop allocation.
Genius said the 173 million GP distributed in Season 2 corresponds to a potential claimable allocation of up to 6.055% of total GENIUS supply. The remaining 0.945% will be burned automatically. Any GENIUS tied to refunds will also be permanently burned.
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