Native token is a new feature that enables the transacting of multi-assets on Cardano. Users can transact with ADA, and with an unlimited number of user-defined (custom) tokens natively.
Native tokens offer distinct advantages for developers: there is no need to create smart contracts to handle custom tokens since the ledger takes all token-related functionality.
The native tokens feature extends the existing accounting infrastructure defined in the ledger model.
$GENS are the native tokens of the Genius Yield Protocol. These tokens can be used to open an account at Genius Yield and start earning optimized yields. $GENS will be available on all top exchanges.
The $GENS also acts as a governance token, and anyone holding $GENS is part on the decision making of the platform upgrades. Users can create proposals and vote on proposals by staking or holding $GENS.
The Genius Yield ecosystemenables users to earn a significant passive income. All $GENS holders will get a reward. The 20% of the transaction fees on the platform will go to $GENSholders.