❓FAQ
Frequently Asked Questions
What is Near Genesis?
NEAR Genesis is a launchpad for NEAR-based Web3 startups, creating an environment for projects and NEAR community members to connect. Near Genesis offers a comprehensive suite of services, including token listing, administrative support, project evaluation, and IDO marketing support.
NEAR Genesis delivers time-based auctions designed to minimize manipulation and bot activity, facilitating fair token distribution within the NEAR ecosystem. Our platform operates semi-trustlessly. All transactions are trackable and processed via smart contracts, supported by AstroDao.
The NEAR Genesis Operations Team moderates daily listings, ensuring security, support, and transparency for both projects and IDO participants. All startup applicants must pass Near Genesis's vetting process and adhere to our terms and conditions.
How do I participate in an IDO on NEAR Genesis?
Get a NEAR Wallet
Add some $NEAR
Go to <mainnet here>
Connect wallet
Swap NEAR to wNEAR
Click the NEAR logo located on the top right-hand side of the screen to engage the NEAR <> wNEAR swap module
Go to Live Listings
Choose the live IDO you are interested in
Click on Deposit
Follow the prompts
Do I need to register on the platform?
Registration on the Near Genesis platform is mandatory for a Project Listing. Start ups on Near Genesis are vetted by default and managed through smart contracts.
Please note: Registration doesn't automatically guarantee platform listing.
Users only to connect their wallet to browse Live Listings and participate in IDOs, they do not have to register.
Are token listings FREE?
Applying for a token listing on the Near Genesis platform requires a non-refundable Registration Fee of 0.3%^ + $500. This fee contributes to the administrative and evaluative efforts of the NEAR Genesis Team and helps discourage dishonest applications.
Successful IDO’s incur a 3% Sales Proceeds Fee automatically deposited to the Treasury DAO via smart contract upon Project Owner approval.
NOTE: Transactions on the NEAR blockchain incur gas fees, an integral part of blockchain operations, which compensate validators and maintain network security. ^ total tokens listed during IDO
How to Determine a Token's Market Cap?
Market cap is a widely used metric to assess the relative size and value of a cryptocurrency or token within the overall market.
To calculate the market cap of a token, you need two key pieces of information:
Token Price: The current market price of a single token. This can be obtained from various cryptocurrency exchanges or market data platforms.
Circulating Supply: The total number of tokens that are actively circulating in the market. This excludes tokens that are locked, reserved, or not available for trading.
Once you have these two pieces of information, you can calculate the token's market cap using the following formula:
Market Cap = Token Price x Circulating Supply
For example, if the current price of a token is $10 and the circulating supply is 10 million tokens, the market cap would be:
Market Cap = $10 x 10,000,000 = $100,000,000
This means the token's market cap would be $100 million.
Market cap is a metric that offers a snapshot of a token's relative size within the cryptocurrency landscape. However, Market cap does not by itself represent the token's growth potential, profitability, or intrinsic value.
In evaluating a token's market cap, it's also crucial to consider factors like token utility, adoption rate, team credentials, technological infrastructure, market demand, and overall market conditions.
Market cap can also vary significantly due to price volatility and changes in circulating supply and may differ across platforms or data sources due to variations in reported prices and supply numbers.
What is AstroDao?
AstroDao is a platform for On Chain Communities (OCC). OCC are groups of people that prove their membership and coordinate decisions through a series of smart contracts. Each vote is verified by the blockchain, and funds are distributed based on voting decisions. By using AstroDao, NEAR Genesis DAO retains autonomy and, more importantly, has the potential to gradually migrate platform governance to the NEAR Community.
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