Genesis Shards to Develop its Liquidity Engine on PolkaFoundry to Support Pre-IDO Token Markets

We are proud to announce a strategic partnership with Genesis Shards, the first marketplace for pre-IDO tokens on NFTs. Their mission is to encourage NFTs as no longer just valuable collectibles but be utilized as DeFi options.

With a shared vision to facilitate growth, investment, and adoption in blockchain innovation, PolkaFoundry and Genesis Shards collaboration will focus on the following aspects:

  • Genesis Shards and PolkaFoundry join forces to increase scalability, speed, but most importantly interoperability to further drive better user experience and adoption.
  • PolkaFoundry platform and their respective partners will gain access to Genesis Shard’s ecosystem: Access, Ecosystem, and Mentor Shards, enabling and providing major support for PolkaFoundry powered projects.
  • The partnership will provide pre-IDO tokens access to a deeper and broader OTC market in cross-chain architectures like Polkadot.

More DeFi dApps are choosing to build on the scalable Substrate framework supporting the powerful Polkadot multi-chain and other interoperable ecosystems, but low liquidity in pre-IDO tokens is slowing financing and development as well as rising default risk. Genesis Shards’ Gen NFTs solve these liquidity issues by opening new opportunities for “Pre-IDO tokens” to move frictionlessly, thus increasing liquidity parameters . As a production hub for DeFi dApps, PolkaFoundry will provide Genesis Shards the chance to scout early and promising DeFi applications within the Polkadot ecosystem.

The PolkaFoundry and Genesis teams will initially collaborate on the development and implementation of the Genesis Shards platform for the Polkadot network. PolkaFoundry will apply its EVM-compatible technology and other innovative features, as well as technical support and necessary resources, to optimize the GS implementation for Polkadot’s multi-chain environment.

As Genesis Shards prepares to launch its core architecture: Gen Swaps, Gen Access, Gen Ticket, and Gen NFTX, PolkaFoundry will support the growth of Genesis Shards as they will benefit from PolkaFoundry’s Signing Key, Payer, and PolkaID identity management services, making onboarding and peer-to-peer transactions more secure.

The PolkaFoundry-Genesis Shards partnership will decrease frictions and liquidity risks involved in pre-IDO OTC token trading scattered across platforms. By promoting liquidity in pre-IDO markets, both parties are looking forward to supporting investment in blockchain startup innovation and research. Both teams have committed to exploring deeper cooperation in the future.

Thi Truong, CEO & Co-founder at PolkaFoundry said, “Genesis Shards’ ideas are very creative. It has the potential to enable a new market we’ve never seen before. As PolkaFoundry’s mission is unleashing developers to explore new horizons of the DeFi landscape, Genesis Shards is an inspiring example of how that works in reality. PolkaFoundry is more than happy to host Genesis Shards on our platform!

Nilotpal Mukherjee, Co-Founder at Genesis Shards said “We are extremely excited to be partnering with PolkaFoundry to ignite our IDO liquidity engine. In our perspective, the collaboration was a no brainer as we both aim to streamline and create a frictionless ecosystem for the emerging DeFi space.

ABOUT GENESIS SHARDS

Genesis Shards is transforming NFTs into a liquidity vehicle for Pre-IDO tokens and a whole new suite of DeFi products across multiple blockchains. Through the use of Gen swaps, NFT shards, community governance, and a multi-functional NFT exchange, the Gen ecosystem creates opportunities for partner organizations and communities to build a symbiotic environment of pre-IDO liquidity.

ABOUT POLKAFOUNDRY

PolkaFoundry is a platform for building borderless and frictionless DeFi dApps on Polkadot. It aims to be the one-stop production hub for DeFi dApps with all the necessary features, services, integrations, and tools available for DeFi experiments, innovations, and real-world solutions. Our unique UX-enabling features bring the interoperability and scalability of Polkadot and Substrate to dApps through an intuitive interface, allowing users to seamlessly and securely access DeFi services and data, manage identities and store files.

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