Coin Burn

Coin Burn is a recurring weekly event in the Generos platform that results in a loss of Gencoin, typically at a default percentage of 20%. To mitigate this loss, users have two primary options:

  1. Redeem Seed for Cash: Users can redeem Seeds to convert Gencoin into Cash, thereby safeguarding its value.

  2. Reduce Coin Burn Percentage: Users can earn the Ruby, Emerald, or Amethyst badges by gifting gems to at least three different users across these gem tiers. Earning these badges allows users to progressively decrease the coin burn percentage associated with their Gencoin holdings.

Coin burn events are integral to the Generos ecosystem, and users are encouraged to employ strategies to minimize their impact on Gencoin holdings.

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