Cryptocurrency exchange Binance TR has announced that it will list a new altcoin with the theme of AI, one of the hottest areas in the crypto market.
According to an official announcement, Binance TR listed the AIGENSYN (Gensyn) token on the Turkish Lira trading pair today at 20:00.
Gensyn is a relatively new altcoin that was launched late last month, and according to official information shared by its developer, it provides the basic infrastructure for computing power, data, and information exchange needed in the field of artificial intelligence.
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AIGENSYN tokens will be used at Gensyn for machine learning validation, staking, payments, and governance. The token has a total supply of 10 billion units and runs on its own layer 2 blockchain network within the Ethereum ecosystem.
Gensyn also added that on-chain revenue generated through the decentralized cryptocurrency platform will be used to buy back AIGENSYN, and 70% of these tokens will be burnt. 29% of the proceeds will go to Gensyn’s treasury and 1% to the operator of the buyback mechanism.
There are currently 1.3 billion AIGENSYN tokens in circulation, with the remaining tokens expected to be unlocked over time.
*This is not investment advice.
