The much-awaited release of Genesis Vision (GVT) took an unexpected turn as the developers sought to ensure a smooth rollout. The launch of the decentralized private trust management platform is to take place in two modules.
Genesis Vision (GVT) Modules
The first module to go live is one targeting managers, with the other module targeting investors set for release tomorrow, November 1st. According to developers, the simultaneous release of the two modules would have resulted in a stale and empty platform.
“While deploying the platform we wanted to ensure it to go as smoothly as possible. Slow and steady is always a correct approach when you are dealing with something massive. This is why we made a decision to roll out the platform in modules,” Genesis Vision in a statement.
The investor module seeks to make it possible for people to start investing in investment programs. Consequently, it will also handle GV Fund’s investments. In addition, Genesis Vision has also unveiled both iOS and Android mobile applications. The new application will suit the updated web platform.
In a bid to accelerate widespread adoption, Genesis Vision is embarking on a widespread marketing campaign. The campaign will target skilled traders as the project seeks to target them as GV managers. There are also plans to pursue asset managers with a view of leveraging their well-established connections.
Commission And Fees
Genesis Vision should start seeing profits in 2019 when it begins gathering commissions and fees on people using the platform. However, users will still have to currently pay fees to managers on deposits and withdrawals. As they mentioned prior, the actual Genesis Vision team will not receive any commissions until next year. Further, by lowering the fees incurred to trade, the decentralized private asset management platform hopes to accelerate adoption.
Genesis Vision has also inked a strategic partnership with Sum & Substance as part of a KYC/AML drive. The company is to help the decentralized asset management platform play by the rules when it comes to customer identification.
Managers who don’t pass the KYC procedure would be stuck on Level 1. Consequently, they will only be able to attract 70 GVT. Likewise, passing the KYC procedure would make it possible for the managers to attract up to 700GVT.
Investors who don’t pass the KYC procedure would also have to contend with 100 GVT per month investment cap on the platform. On passing the verification, they would be able to invest without any limits.
Genesis Vision has also opened discussions with another company that deals with all sorts of analytics and machine learning. The firm is to help the company analyze all trading data. The undisclosed company will also help GV to identify the best indicators for manager levels.
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