Genius X: A Enterprise Accelerator for Cardano-Primarily based Startups, Selling DeFi Innovation and Adoption – Cardano Feed

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There are over 18,000 listed tokens on CoinMarketCap (CMC), a coin tracker. However, many others didn’t make the cut because of stringent listing criteria or coin trackers are failing to keep up with the fast pace of crypto innovation.

Many crypto projects are searching for an alternative to Ethereum and chose Cardano because of its speed, efficiency, scalability, and low cost.

Crypto projects rely on their global community of investors and experts to grow, accelerate development, and deliver their vision-mission statements. In 2021, crypto startups raised over $21 billion, an 8X increase from 2020, according to findings from CB Insights, a private equity firm. This figure will only rise as more projects seek to actualize their ideas.

Despite the considerable stake in crypto, investors remained apprehensive because of the past lessons learned.

After the initial coin offering (ICO) hysteria of 2018, it later emerged that most projects were scams with glossy white papers with nothing to offer. Over 80 percent went under, sinking with investor funds. Unfortunately, ICO investors had no route for recourse, trusting the development team’s ethics.

As such, some potential investors aren’t truly convinced that blockchain and crypto projects are safe, subsequently starving and stalling the development of otherwise potentially viable protocols.

The inability of projects to deliver might have been made worse by investors pouring in funds and failing to do their due diligence. The situation was exacerbated by insufficient regulatory protection, exposing investors to increased risk in a rapidly disintegrating market in 2018, where most crypto projects lost over 90 percent of their original valuations. The failure of investors to vet the team’s competency and technical capability to deliver also contributed, giving scammers a leeway to run away with hard-earned investors’ funds.

consequently, the urgent need for safety nets forced back innovators to the drawing board. Over the years, there have been changes but still, failing Know-Your-Customer (KYC) and Anti-Money Laundering (AML) submission processes, opaque whitelisting and selection process, and, in some instances, founders lacking crypto knowledge inadvertently exposing their Projects to manipulation tactics such as pump and dump schemes are notable concerns. By further operating with lean teams during pre-funding, startups — regardless of their ambition or technical adeptness — may also not have the required networks or know-how to scale their businesses effectively, leading to failure or investor disappointment.

Genius X is a platform where ambitious startups, building on the world’s most decentralized proof-of-stake network, receive essential support in business development activities to achieve speed, scalability, and edge.

A solution by Genius Yield, Genius X revolutionizes the business accelerator experience while concurrently providing unparalleled support for potential blockchain startups in Cardano.

As a result, Genius X fosters DeFi innovation and, most importantly, empowers founders to build impactful and scalable blockchain-based companies.

Only fully vetted and innovative startups receive support from Genius X. To deter scams, key members must submit their verified personal information as part of know-your-customer (KYC) and anti-money laundering (AML) compliance.

Genius X provides all the required tools and support for teams to succeed in the long haul. Core business and consulting services include fundraising (seed and private) strategy and execution, business development strategy and execution, tokenomics design, integration into the Genius Yield ecosystem, exchange listing, product strategy and implementation, and legal and bank account support.

Additional services include Initial Stake Pool Offering (ISPO) design, Marketing strategy and execution, Graphics Design, Technical Support, and Talent Acquisition and HR. The accelerator will also adopt a Project Catalyst-like approach. The community will subsequently vote on which Genius X cohorts receive available grants.

These are the necessary advisory networks, financial infrastructure, and the essential technological expertise for blockchain startups to attain edge, speed, and scale when they eventually launch on Cardano. As per Genius X’s roadmap, the platform will also activate a launchpad to simplify the funding experience and offer private round funding access to retail investors.

Startups can apply to be part of the Genius X accelerator program. Already, Genius X has on-boarded seven projects, distinguished by their unique Minimum Viable Products (MVPs). Genius X thoroughly vets the team in each project, requiring them to comply with the mandatory KYC.

The first seven startups on Genius X are:

  1. martify: An infrastructure project for game and metaverse projects depending on smart contracts and NFTs
  2. maestro: A turnkey staking stake pool infrastructure service for retail and institutions
  3. Cardahub: A decentralized NFT marketplace that provides a free mining service, distribution, integration, and a launchpad.
  4. Smart Places Protocol: A social media matchmaking ecosystem utilizing the Connect-to-Earn model to incentivize real-world interactions.
  5. Iagon: A decentralized storage solution and processing platform on Cardano where anyone can profit from shared resources.
  6. Ledgity: A portal bridging CeFi and DeFi to offer digital private banking to the masses
  7. Cardano Feed: A premier decentralized news media platform focused on the Cardano ecosystem.

Genius X is also actively collaborating with high-profile partners to add value by extending various services such as code auditing, legal, marketing, and technical assistance, to approved startups, expanding its ecosystem of blockchain developers and entrepreneurs.

By early Q2 2022, Genius X had joined hands with Tweag to provide security audits and engineering consulting for selected projects accepted into the accelerator program. It is also collaborating with the Switzerland-based JayBee AG to accelerate the adoption of DeFi by ensuring rigorous compliance in a changing regulatory environment.

Crypto and blockchain investment is dynamic. Genius X is setting itself up as a go-to platform for early-stage startups building on Cardano looking for technical and business development support. Beyond startups, Genius X also guides established projects to rapidly scale and increase their profitability.

Join Genius X social media:

Telegrams | Discord | Twitter


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