Gensyn launches native token AI

AI infrastructure company Gensyn announced on April 29 that it has listed its native token, Gensyn (AI), on exchanges including OKX, Binance Alpha, and Kraken. The token generation event follows the launch of the company's mainnet and its first application, Delphi, on April 22. The AI token is designed to be the core economic infrastructure of the Gensyn network. A protocol fee of 0.5% on all transaction volume, including from the Delphi market, will be used to automatically buy back AI tokens. Of the repurchased supply, 70% will be permanently burned, and 29% will be allocated to the community treasury. Gensyn has previously raised $43 million from investors such as a16z Crypto, Galaxy Digital, and Eden Block.