Within the GenomesDAO ecosystem, there are two tokens available for use.
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The first token, $GENE, is a utility token that allows users to query the DNA vaults. It serves as the native currency for the GenomesDAO platform. The total number of $GENE tokens available is fixed at 1 billion. Additionally, for each whole genome sequencing test (WGS) that is sold, a predetermined amount of GENE tokens will be burned based on the number of kits sold.
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$GNOME is GenomesDAO’s governance token
However, there are some red flags that should be taken into consideration.
- Firstly, there is a lack of information regarding a vesting schedule.
- Additionally, the ratio of investor holding is very high. During the first round of crowdfunding, they were able to raise 100 ETH only for 12%. In the next round, they stated that they raised 423 ETH, which would result in investors holding a ratio of no less than 30%. These factors should be considered before investing in the GenomesDAO ecosystem as it shall lead the extremely high selling pressure.
Link to tokenomic: https://genomes.gitbook.io/genomes.io-docs/technical/tokenomics/gene-token Show Less
