YZi Labs invests tens of millions of dollars, CZ serves as an advisor, Genius still lacks followers
Author: Chloe, ChainCatcher
On April 13, the Perp DEX trading terminal Genius, supported by YZi Labs, disclosed information about its first quarter airdrop event, which will allocate a total of 70 million GENIUS tokens and will simultaneously launch on Binance Alpha. However, this launch, which should have been a moment of celebration, triggered a crisis of trust within the community due to the significant gap between official rules and community expectations.
CZ Endorsement, Billions in Trading Volume, Are the Yield Farmers All In?
Genius is an on-chain perpetual contract trading terminal backed by tens of millions of dollars from YZi Labs, with CZ personally serving as an advisor, and has been under the spotlight since its inception. The platform aggregates over 10 public chains and more than 150 DEXs, boasting CEX-level execution speed and on-chain privacy trading. In January of this year, it recorded a weekly trading volume exceeding $2 billion, with a cumulative total trading volume surpassing $15 billion.
According to cryptocurrency data platform RootData, Genius completed a $6 million seed round financing in October 2024, led by CMCC Global, with participation from institutions like AVA Labs, Arca, and Flow Traders. Additionally, Genius co-founder Armaan Kalsi revealed that YZi Labs joined the financing this year, investing "tens of millions of dollars" into Genius Trading, and CZ also joined the company as an advisor.
According to a previous official announcement, 21% of the total supply of Genius tokens is allocated for community airdrops, executed in three Seasons, with each season accounting for 7%. Users can accumulate Genius Points (GP) through spot trading volume, with points directly corresponding to token distribution. The platform indeed returned real cash to the market during the distribution process, with over $7 million in cash back and $1.3 million in referral rewards distributed weekly in the form of USDC.
This mechanism operated smoothly in the early stages, and the expectations for many yield farmers were quite clear. However, when the rules were suddenly rewritten on the eve of the TGE, these investments instantly turned into sunk costs.
70% of User Allocation Burned, Just Because the Official Wanted to Filter
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Bitcoin Core Ends Development of HWI for Hardware Wallets

Avalanche CBO John Nahas sees opportunities despite token price decline

Avalanche Emphasizes Real-World Use Cases

Ava Labs Appoints Charlie Cooper as President and Promotes Lydia Chiu to CFO

DeFi Regulation Targets Discretion Rather Than Code: Tiger Research Analyzes SEC Statement Impact

Avalanche Stealthily Transforms into RWA Public Chain

Strive buys $143M in Bitcoin, becomes fifth-largest holder

"Technology Takes a Backseat": How Stablecoins Transition from Savings to Everyday Payments

Fogo Mainnet Has Been Stopped For 46 Hours With No Restart Timeline

Circle Issued 5 Billion USDC in a Week: Crypto Market Awaits Altseason Again

Hacking: Belgium demands crypto addresses from illegal sites

Banks Improved Their Profitability, But Concerns Over Delinquency Persist: Key Insights from Recent Financial Statements

CME Targets ETFs: The First FCA-Regulated Multi-Asset Crypto Indices Are Born

Why the SEC’s $75 million crypto path is not the same deal Congress is offering

Crypto Funds: $3.2 Billion in One Week, Bank of America Hasn't Seen This Since October 2025

What Is Worth Preserving: Rupture On Remains, Decay, And The Collector's Dilemma

Fundamental Analysis of Cryptocurrencies: How to Evaluate Digital Assets Before Buying

AI Forces Diversification of Bitcoin Custody

Switchboard Halts Oracle Operations On SUI And Aptos After Potential Compromise

Central Bank Bans Advertising of Unlicensed Cryptocurrency and Payment Businesses

OKI vs IKE vs IKZE: What to Choose in 2026? Taxes, Limits, and Calculations for 2027

Charles Schwab Expands Crypto Platform Beyond Bitcoin And Ethereum

Natura Changes CEO: Carlucci Returns After a Decade

Focus: Inflation Eases, But Declining GDP Raises Concerns

Predictions of Market Regulation Spark a Political Battle

Warren Buffett Turns 96: The Investments That Made Him a Wall Street Legend

After MiniMax's Stock Price Rebounds 92%: What Remains When a Model Company Removes the Model

FBI and Australian police charge two in TeamPCP probe

Meta Faces Dilemma After AI Layoffs: Cybersecurity Incidents Up 40%, Cleanup Time Up 70%








