By cryptoadmin Cryptocurrency exchange Binance TR has announced it will list a new AI-themed altcoin, one of the hottest areas in the crypto market.
According to the official announcement, Binance TR listed the AIGENSYN (Gensyn) token in the Turkish Lira trading pair today at 20:00.
Gensyn, a relatively new altcoin launched at the end of last month, provides a fundamental infrastructure for computing power, data, and information exchange needed in the field of artificial intelligence, according to official information shared by its developers.
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The AIGENSYN token is used on Gensyn for machine learning verification, staking, payments, and governance. The token has a total supply of 10 billion units and operates on its own layer-2 blockchain network within the Ethereum ecosystem.
Gensyn also added that onchain revenues generated through decentralized cryptocurrency platforms will be used for AIGENSYN buybacks, with 70% of these tokens being burned. 29% of the revenues will go to the Gensyn treasury and 1% to the buyback mechanism operator.
Currently, 1.3 billion AIGENSYN tokens are in circulation, and the remaining tokens are expected to be unlocked over time.
*This is not investment advice.