Geminon v2: A Look Ahead to Phase Two Development

Geminon
3 min readJun 4, 2023

Hello Geminon Community,

As we celebrate the conclusion of an exciting and successful first year of development, we’re eager to take this opportunity to share with you our vision for Geminon’s future. Our team has spent countless hours perfecting our design, refining our plans, and preparing for the next crucial steps. We want to ensure you, our valued community, that we are working diligently towards our shared mission.

With the upcoming launch of our second version (Geminon v2), we have made several strategic decisions that we believe will be most beneficial for the longevity and prosperity of our project. This is a time of transition, innovation, and ambition.

Decisions and Innovations

Firstly, the current development of the loan functionality has been suspended. Our analysis indicates it would immediately become obsolete with the deployment of Geminon v2. Instead, we are investing our resources in ensuring the best performance and utility of our updated platform.

Additionally, all other features previously outlined for development, including governance and multi-chain bridging, will now be moved to the Geminon v2. This strategic realignment will allow us to maintain our focus on developing advanced, comprehensive, and user-friendly solutions that truly fulfill our community’s needs.

In the short term, we are pivoting our focus to growing our community and establishing close collaboration agreements with other projects. These partnerships are vital to our vision for Geminon, and we look forward to announcing these collaborations in the coming weeks.

Benefits for GEX Holders

To our GEX token holders, we are excited to announce that you will receive airdrops and other benefits thanks to these agreements. Further details will be announced in due course, but we can assure you that the benefits will make your participation in the Geminon community even more rewarding.

Updates on Tokens

The Geminon v1 protocol has now been paused. As a result, new GEX tokens cannot be minted or purchased until the release of Geminon v2. However, investors who currently hold GEX tokens will still be able to sell their tokens at any time, as the redemption functionality cannot be paused by design.

Additionally, we are thrilled to introduce a new token: GESH (Geminon Shares). GESH will be issued in a limited supply and will represent the rights to collect the fees generated by the protocol. GESH will be integral to our incentive programs, which will include staking, liquidity mining, and yield farming. It will also play a crucial role in governance and fund-raising via launchpads. The GEX token, meanwhile, will continue to function as a utility token within the protocol.

Development Timeline

Please note that Geminon v2’s development is an extensive process. We are committed to delivering a high-quality product that meets and exceeds our community’s expectations. As such, Geminon v2 is not expected to be ready before Q1 2024.

Looking Forward

The journey ahead promises to be exciting and rewarding as we continue to build upon the foundations laid during our first year. We will keep you updated regularly on our progress, announcements, and upcoming features.

We thank you for your continued support and trust in the Geminon project. Your involvement and enthusiasm are integral to our success, and we look forward to continuing this journey together.

Yours Sincerely,

The Geminon Team

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