Genopets (GENE) will land during Phase 2 of the MEXC Launchpad, wherein those with a minimum of 100 MX token holdings can participate

At 16:00 (UTC) on November 11, MEXC Global will officially commence the second Launchpad lottery for new events. The current phase’s project is the GameFi project with the Move-to-Earn mechanism, Genopets (GENE) from the Solana ecosystem. Additionally, it is also the second joint project launch by MEXC and ByBit.

In the first launchpad event by MEXC, new users who participated in the ticket drawing of CropBytes (CBX) received a maximum revenue of 3080% as well as a lottery winning rate of more than 90%. According to the highest increase, the maximum revenue of a single ticket was more than 1450U.

In this phase, MEXC upgraded the launchpad events by further reducing the participation threshold of users. During the snapshot period from 16:00 on November 11 to 15:59 on November 16, users can participate in the launchpad lottery only if the average minimum MX holding exceeds 100 tokens. Lottery winning users can obtain GENE at the price of 0.8USDT/ token.

In this upgrade, the allocation limit of users with a single ticket is also increased. 250 GENE can be allocated for each lot, with a total of 250 thousand tokens released. During the snapshot period, the higher the amount of MX held, the higher the winning probability and winning quota. The specific allocation is shown in the table below:

Where to participate?

There are two entry points for participation. On the website, login on the MEXC home page, find the “Finance” section in the navigation bar above, and clicks on “Launchpad” to participate.

Or on the APP, move to the middle of the “Home” page and click “Launchpad” to participate.

The MX position snapshots will be taken on November 11, 16:00 to November 16 at 15:59. The lottery registration starts on November 17 at 08:00 until November 18 at 7:59 . The result of the lottery will be announced at 10:00 on November 18. Since the platform will deduct the assets of the lottery winning users at 11:00 on the 18th, please keep enough MX in the participating accounts before completing the asset conversion.

About the MEXC Launchpad

MEXC Launchpad is MEXC’s latest benefit initiative for MX holders, which provides global users with the opportunity to invest early in project tokens at a low cost.

Genopets (GENE) is a Move-to-Earn NFT game based on the Solana ecosystem. Players can craft free NFT animal Genopets with generative characteristics. Genopets grow and evolve based on the XP (experience value) gained by players when battling, fighting solo PvE bosses, taking the Genopet on walks, and going on after-dinner jogs.

Similar to Axie (AXS), Genopets uses a two-currency model: GENE and KI. First, GENE, like AXS, is a governance token that represents ownership in Genoverse and allows the holder to vote for future gameplay or stake GENE for a reward. KI is similar to SLP, an in-game reward token that can be used to purchase/craft habitats, accelerate Genopets’ evolutions, and other combat items.

In our understanding, Genopets recently completed a $8.3 million USD seed funding round. The lead investors are Yield Guild Games, Konvoy Ventures, Pantera Capital. The participating investors are Old Fashion Research, Alameda Research, Solana Capital, Xoogler Ventures, Mechanism Capital.

About MEXC Global

Founded in April 2018, MEXC Global is a one-stop global trade compliance platform that combines spot, futures, margin, leverage ETF trading and Staking services. It has now acquired five-country compliance licenses in the United States, Canada, Australia and other regions to perform compliant operations locally.

MEXC Global is deeply invested in public blockchain ecosystem projects like Ethereum, Polkadot, and Solana, as well as DeFi, NFT, Layer2, Metaverse, GameFi, DAO, etc. Currently, hundreds of projects were launched on MEXC first before getting listed on Binance and Coinbase.

In October this year, MEXC Global announced a strategic partnership with ByBit, a futures trading platform, to better serve global users by combining the advantages in spot and futures.