World Mobile Token (WMT) has partnered with Cardano-based DeFi protocol Genius Yield to fast-track the adoption of decentralised finance (DeFi) on the Cardano blockchain.
WMT is the utility token build on Cardano that powers the sharing economy of the global World Mobile network. Transactions generated and processed on the World Mobile network earn rewards for stakers and node operators paid in WMT. WMT token holders are able to earn rewards by holding their tokens in a Cardano wallet and staking through the WMT Vault. Holders of WMT can also stake in fixed pools through the Genius DEX’s staking feature.
The partnership will see both companies work together to improve access to financial education and bring practical DeFi use cases to everyday users. World Mobile Token and Genius Yield will support each other’s tokens in their respective protocols, boosting token liquidity and improving interoperability.
As part of this collaboration, World Mobile Token will support Genius Yield’s liquidity pools in the Genius DEX and Smart Liquidity Vault, also known as the Yield Optimizer, which is powered by artificial intelligence and is built on top of the Genius DEX.
Genius Yield will set up and provide early access to the Smart Order Router, an off-chain order matching bot, for WMT and will also operate an EarthNode. EarthNodes are the heartbeat of the World Mobile network, processing and securing transactions on the World Mobile Chain while earning their operators rewards for their role at the core of the WMT ecosystem.
In addition, Genius Yield and World Mobile Token have collaborated to design and mint 2,000 utility NFTs.
The 2,000 NFTs will be distributed as follows:
- 1,000 NFTs will be airdropped to the World Mobile Token community and EarthNode Operators
- 1,000 NFTs will be distributed to the Genius Yield community
Holders who opt to stake their NFTs together with WMT via the Genius DEX will receive higher yields. NFT holders will get early access to VIP areas or native World Mobile app features. They will also receive a 25% discount from the one-year-long paid blockchain course offered by Genius Academy from Q2 2023.
Genius Academy equips readers with the necessary toolsets by availing in-depth articles for users to better grasp the increasingly sophisticated and dynamic crypto and DeFi ecosystems. It has partnered with PSL university and onboarded top crypto and blockchain experts to deliver comprehensive, high-quality education on these topics.
Genius Yield and World Mobile Token will also present their projects via a livestream during the first Hackathon for Haskell and Plutus in Latin America (LATAM) held at Universidad Tecnológica Nacional (UTN), Argentina. This two-day event will take place from September 3rd to 4th, 2022, and is organized by Ada Solar, a Cardano-based project that uses the potential of solar power to democratize energy, and UTN.
Genius Yield, CardanoFeed.com, AnetaBTC, Tosidrop, and Input-Output Global (IOG), the development team behind the Cardano blockchain, are sponsoring this event.