USDC Deposits and Withdrawals

Generos uses USDC (USD Coin) as the sole fiat-backed currency for deposits and withdrawals. All value flows through Solana's blockchain, providing full on-chain transparency and cryptographic security.

Deposits: Funding Participation

Users fund their Generos participation by depositing USDC, which enables the purchase of Gems.

Wallet Connection

To deposit USDC, users must connect a Solana-compatible wallet. Supported wallets include Phantom, Solflare, and other standard Solana SPL-token interfaces. Users retain full custody of their private keys.

Deposit Flow

1. User connects Solana wallet to Generos

2. User specifies USDC deposit amount

3. User approves transaction in wallet

4. USDC is transferred to Generos on-chain program address

5. User's Generos account is credited with equivalent USDC balance

6. Deposit is recorded on Solana blockchain and publicly verifiable

Deposits are processed immediately upon blockchain confirmation.

Gems and Treasury Contribution

When a user purchases a Gem with USDC:

• 80% (~$4.00 from a $5 Ruby) flows directly into the Redemption Treasury on-chain

• 20% (~$1.00) remains in the user's account as Gem value for gifting

The Treasury is the economic foundation of Gencoin's value. Every Gem purchase strengthens the backing.

Withdrawals: Seed Redemption to On-Chain USDC

Users extract value from the protocol through Seed Redemption, which converts Gencoin to USDC that can be withdrawn to their wallet.

Seed Redemption Mechanism

Users with accumulated Seed (earned through participation, gifting, and community engagement) can trigger redemption:

1. Redemption Conversion: 50% of user's Gencoin balance is converted to USDC

2. Automatic Community Contribution: 10% of the converted Gencoin is automatically directed to the user's chosen organization

3. USDC Credited: Remaining USDC is credited to the user's Generos account

Withdrawal to Wallet

Once USDC is credited to the account:

1. User initiates withdrawal request to their Solana wallet address

2. User approves transaction in wallet

3. USDC is transferred from protocol address to user's wallet

4. Withdrawal is recorded on Solana blockchain

There are no withdrawal fees. Users pay standard Solana network fees (typically $0.00025 or less).

The Redemption Treasury

Purpose

The Redemption Treasury is an on-chain reserve that backs every Gencoin in circulation. It ensures the protocol's economic credibility and user confidence.

Composition

The Treasury is funded by:

• 80% of all Gem purchases

• Deflationary inflows from weekly coin burn events

• Organizational donations and direct funding

Verification

All Treasury balances and transactions are publicly verifiable on Solana. Users and external auditors can query the Treasury address to confirm:

• Total USDC held

• Transaction history

• Allocation records

This transparency ensures that Gencoin is always backed by real financial assets, not inflation or trust alone.

On-Chain Transparency

All Generos transactions occur on Solana's public ledger:

• Deposits appear as SPL token transfers to the protocol address

• Gem purchases are recorded as protocol state changes with corresponding Treasury transfers

• Seed Redemptions trigger USDC transfers from Treasury to user accounts

• Withdrawals appear as SPL transfers from protocol to user wallets

Users can verify their transaction history by querying Solana using:

• Wallet-connected block explorers (Solscan, Phantom)

• Generos account dashboard (which displays all historical USDC flows)

• Direct blockchain queries via Solana RPC endpoints

This immutable record creates permanent accountability for all value flows within the protocol.