I was reading the official announcement from Genius Terminal in their X-feed about commission refunds and stopped at one sentence. My first reaction - what about the rest?
The team's position @GeniusOfficial from April 13: we only refund our share. In a typical deal with 20 bps - PancakeSwap took 15 as the router, and Genius took 5. Only 5 can be refunded. The other 15 didn’t go to Genius and won’t be coming back.
4.7% of Genius Terminal users opted for a refund. They got their money - $549,264 in total. But the condition: to cash out, you had to burn tokens $GENIUS . These 4.7% permanently removed 0.33% from the total supply.
Here’s a detail that’s easy to miss. Those who took the money reduced the supply for those who held onto their tokens. The minority that chose cash did a service to the majority holding $GENIUS .
95.3% did not take the refund. Whether they didn’t know, didn’t think it was necessary, or consciously calculated that token $GENIUS was more profitable - the data is silent on this.
The question that remains for me: if Genius Terminal determines the route of your trade - does that mean you're paying for that route too?
#genius
The team's position @GeniusOfficial from April 13: we only refund our share. In a typical deal with 20 bps - PancakeSwap took 15 as the router, and Genius took 5. Only 5 can be refunded. The other 15 didn’t go to Genius and won’t be coming back.
4.7% of Genius Terminal users opted for a refund. They got their money - $549,264 in total. But the condition: to cash out, you had to burn tokens $GENIUS . These 4.7% permanently removed 0.33% from the total supply.
Here’s a detail that’s easy to miss. Those who took the money reduced the supply for those who held onto their tokens. The minority that chose cash did a service to the majority holding $GENIUS .
95.3% did not take the refund. Whether they didn’t know, didn’t think it was necessary, or consciously calculated that token $GENIUS was more profitable - the data is silent on this.
The question that remains for me: if Genius Terminal determines the route of your trade - does that mean you're paying for that route too?
#genius