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Genesis HODL Program Starts December 2017

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One of the features that gets requested the most by the community is a HODL Program or a reward for holders of Genesis. As we’re not using a PoS system, there are limited ways to earn Genesis Coins other than purchasing them. While this isn’t a bad thing, we agree with our community that holders of Genesis should be rewarded for doing so.

Therefore we are pleased to officially announce the Genesis HODL Program! The HODL program will aim to reward holders of Genesis and to encourage people to continue to hold GEN.

Before I explain how it works, it is important that you are aware that the Genesis HODL Program has nothing to do with Genesis Points that you can earn on the forum. The HODL Program is only available to those who are holding real Genesis Coins in their Ethereum wallet as shown here.

This is how it will work.

Every wallet address holding GEN will be checked on the last day of each month. Each address that is holding more than 5,000 GEN will earn 1% interest each month, payable on the 1st day of the next month. It is important that you make sure that you have the minimum amount of GEN coins in your wallet before the last day to ensure you don't miss out.

Here’s an example.

On December 31, Address A has 5000 GEN in their wallet. As they have reached the threshold to qualify, on January 1, Address A will receive a payment of 50 GEN which is 1%.

On December 31, Address B has 10,000 GEN in their wallet. As they have reached the threshold to qualify, on January 1, Address B will receive a payment of 100 GEN which is 1%.

On December 31, Address C has 2000 GEN in their wallet. As they have not reached the threshold to qualify, on January 1, Address C will NOT receive a payment.

The following month the process repeats itself. So long as a wallet has 5000 GEN or more, they will receive their interest payment. Any address that does not have 5000 GEN or more on the last day of each month will not receive interest for that month. However if they then have 5000 GEN or more the next month, they will of course gain interest.

The first payments will be made on January 1 2018, meaning that to qualify you must have 5000 GEN in your wallet on December 31 2017. 

The interest rate and minimum threshold amounts are subject to change. Any changes will be announced 30 days before the next interest period.

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Here are the interest rates for the following months:

December 2017: 5%

January 2018: 5%

February 2018: 3%

March 2018: 3%

April 2018: 2%

May 2018: 2%

June 2018: 1%

The minimum interest rate for the forseeable future is 1% giving an annual interest rate of 12%.

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