How does the Genesis Pool work?

The Genesis pool is a critical market, and the first opportunity for the community to acquire their own VAPE tokens. This mechanic has not been used before, so please be extremely mindful of the nuances and design. Participants in the Genesis Pool event are permanently surrendering VPND for an amount of VAPE tokens that will only be determined at the end of the event, based on the total amount of VPND surrendered by the full community.

IMPORTANT: The Genesis Pool is an exclusive one-time event for Stratosphere members. Stratosphere is our free rewards program, and new community members will be able to join by pre-enrolling on Stratosphere and minting their free soul bound NFT.

• VaporFi Labs pre-mines 420,000 VAPE tokens and locks them in the Genesis Pool (with Lossless protection)

• On January 13, 2023 — the Genesis Pool opens, it remains open through February 12, 2023

• VAPE token rewards from the Genesis Pool are available to be claimed, starting on February 13, 2023

• Community can participate by going to the new Genesis Pool UI on VaporDEX

• Participants can voluntarily permanently surrender any amount of VPND into the Genesis Pool, this VPND is immediately removed from the participants wallet and is non-refundable. VPND must be in a wallet and cannot be taken from a node. This can be repeated as many times as desired for the duration of the event

• Your share of VPND surrendered at the end of the event is your share of the 420,000 VAPE tokens

• Over the course of the Genesis event, as other participants deposit VPND — your share may decrease. To defend your stake (if you choose to do so) and earn a larger allocation of VAPE, you will need to add more VPND

• As VPND is surrendered into the vault, the initial valuation of VAPE increases — every VPND token surrendered represents value that was willingly surrendered in exchange for VAPE

• At the end of the Genesis event, the Genesis Pool emits 420,000 VAPE tokens, claimable by the participants of the Genesis pool. Each participant will be able to claim x% of the 420,000 VAPE tokens, with x% being equal to their share of total VPND surrendered

• Participants can claim their VAPE immediately after the event and create a liquidity pool on VaporDEX and establish a secondary market

• VAPE claimed from the Genesis Pool is fully transferable and does not require any additional steps to enter circulation

• 1.0% of VPND surrendered into the Genesis Pool is permanently burned, resuming the deflationary mechanics of VPND that were paused during our GDM deployment

• The remaining 99% of VPND surrendered into the Genesis pool is escrowed to replenish the VaporNode reward pool and extend its runway of VPND emissions

IMPORTANT: Depositing VPND into the Genesis pool is a permanent surrender of your deposited tokens. Once deposited, you will not be able to withdraw or reclaim your tokens. Your stake in the pool will change over time as other people deposit their own VPND and your stake may become diluted unless you add more tokens.