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

Cashlink Adds Avalanche to Institutional Securities Infrastructure

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

US Open Partners with Kalshi for Last-Minute Deal, Officially Introducing Prediction Market

Are Stablecoins Really "Stable"? Considering Redemption, Settlement, and Revenue Structures ("So That's How It Is Blockchain Ep.15" Yoshihiko Uchida, Yuya Sakai, Shinya Otsuga)

The Short Squeeze Logic of Meme Stocks Moves from NYSE to the Robinhood Chain

Sui to Host 'Basecamp 2026' in Singapore, Highlighting Agentic Economy

Thailand SEC seeks rules for retail crypto derivatives

MetaPlanet CEO: "The First Bitcoin Cycle in Asia Has Already Begun"

Circle to Feature USDC Logo on Chelsea FC Jerseys Starting in the 2026/27 Season
![[ETH Letter] Ethereum's Upcoming Upgrade 'Hegota' Scope Confirmed](/public-static/33_70806c0ee0.png?format=avif)
[ETH Letter] Ethereum's Upcoming Upgrade 'Hegota' Scope Confirmed

DeFi Development prices $19.8M CHAD stock offering

Robinhood Chain's DEX Volume Reaches Record Approximately 140 Billion Yen in One Day

$1.8 Million Acquisition of Nasdaq Shell Company: Rune Aims to Explode Shorts with Meme Coin

Every Major Correspondent Bank Will Support Stablecoin Tracks in Ten Years

The Market Doesn't Move with Information Alone: Considering Web3 in the Era of Prediction Markets and AI Agents|HashHub Research

Reserves: service deficit was $900 million during July

Dollar in September: The City Projects How High It Could Rise After Recent Official Intervention

The Biggest Risk for Bitcoin Has Been Eliminated

Cook Bids Farewell as Apple Enters the Ternus Era

Who Oversees When AI Agents Hire Each Other?

AI Reidentification Risks Prompt Reevaluation of Zcash Privacy Features

ToMe AI Launches Business Digital Employees with Investment from US-listed Company, Building a Network for Information Flow in the Era of Intelligent Agents

ISM and Dell Drive the AI Trade | WEEX TradFi Daily(Sep. 1, 2026)
This brief focuses on institutional crypto allocation, U.S. manufacturing data, Dell earnings as a test of AI server demand, and Tesla’s autonomy-driven support for technology risk appetite. Since oil was already covered in yesterday’s brief, today’s report avoids repeating the crude-oil theme. NVIDIA, China technology shares, South Korean semiconductor exports and Broadcom’s market-highlight item have been removed, with Broadcom kept only in Today’s Preview.

What is FLOP (Flop Network)? An Explanation of the Currency Concept for AI Agents








