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Participation in the Genesis Period requires a USDC (or other whitelisted assets) commitment to bootstrap BTCH POL (Protocol-owned-Liquidity). Committed cryptoassets will be converted to WBTC and support the early stability of BTCH by being sent to BTCH/WBTC pair as liquidity.
For example, committing USDC entitles participants to a pro-rata percentage of BTCH generated. The aggregate quantity of BTCH minted will be determined by the Target Price at the end of Genesis, Genesis BTCH minted = Genesis USDC committed / Target Price. Commitments of USDC for BTCH are not directly reversible at any point.
10% of Genesis BTCH purchased in the Genesis Period will be released and auto-staked immediately. The rest 90% BTCH will be vested through 540 epochs (180 days), and the vested part will be staked automatically at each epoch.
In return, participants in the Genesis Period will receive an extra Genesis Reward as compensation for their long vesting period. Genesis Reward is 30% of the additional minted BTCH when every BTCH goes into Staking Reward Pool during the vesting period.