Genshiro (GENS) Airdrop Details: How It Worked, What Happened, and If There’s Still a Chance

Back in early 2022, Genshiro (GENS) handed out over 2.1 million tokens across two major exchanges - and today, most of those tokens are worth less than a penny. If you got in early, you might’ve thought you struck gold. Now, you’re just wondering if it was even worth the effort. This isn’t a story about hype. It’s about what actually happened with the Genshiro airdrop, why the price crashed, and whether there’s any real reason to pay attention to it now.

How the Genshiro Airdrop Actually Worked

Genshiro didn’t do a typical airdrop where you just hold a token and get free coins. Instead, they used a voting system. You had to actively participate. On MEXC, you needed MX tokens to vote. You couldn’t just sit back. You had to lock up your MX tokens, cast your vote, and then wait. The voting window was short - less than seven hours on January 22, 2022. And you could vote multiple times, as long as you didn’t exceed 500,000 MX tokens per account. After voting, your MX tokens unlocked within an hour. It was designed to reward active users, not passive bagholders.

The reward pool? 885,000 GENS tokens. At the time, the reference price was $0.063 per GENS. That meant the total value of the airdrop was around $55,755. Not huge by today’s standards, but enough to get attention in the Kusama ecosystem.

Then there was Gate.io. They ran a separate free offering and distributed 1,277,825 GENS tokens - even more than MEXC. But unlike MEXC, Gate.io didn’t require voting. You just signed up and got tokens. No strings attached. That’s the kind of airdrop people remember. Simple. Fast. Free.

What Happened to the GENS Price After the Airdrop?

Here’s the hard truth: the GENS token crashed. Hard.

In January 2022, the reference price was $0.063. By September 2025, it was trading at $0.00001301. That’s a 99.98% drop. If you got 10,000 GENS in the MEXC airdrop, you were sitting on $630 back then. Today, those same 10,000 tokens are worth 13 cents. You’d need over 769,000 GENS to make $100.

That kind of collapse doesn’t happen because of market cycles alone. Bitcoin and Ethereum dipped in 2022, but they came back. Genshiro didn’t. Why?

First, the project never gained real traction. The tech behind it is solid - multi-chain DeFi on Kusama, cross-chain lending, DAO governance, layer-2 scaling. But no one used it. Liquidity stayed low. Trading volumes stayed flat. The team kept building, releasing updates, and posting roadmap milestones - 2025 for cross-chain upgrades, 2026 for risk controls, 2030 for full ecosystem dominance. But the market didn’t believe it.

Second, Kusama itself didn’t take off like Polkadot. Most DeFi activity stayed on Ethereum, Solana, or even newer chains like Base and Sei. Kusama became a testing ground, not a destination. Genshiro was one of the few serious DeFi projects on it - but without users, even the best tech doesn’t matter.

Was the Airdrop Fair?

The MEXC voting system was actually smarter than most airdrops. It prevented whales from dominating. You couldn’t just buy a ton of MX tokens and claim 10 times the reward. The 500,000 MX cap forced smaller holders to participate too. That meant more people got a slice - not just a few big wallets.

Gate.io’s free offering was more generous in volume, but less strategic. Anyone with an account got tokens. No filter. That’s good for user growth, but bad for long-term alignment. Many people sold immediately. No one stuck around.

The real winners? The exchanges. MEXC and Gate.io both got massive user sign-ups. They promoted Genshiro, drove trading volume, and collected fees. The airdrop wasn’t really for the users. It was for the platform’s growth.

Is There a New Genshiro Airdrop Coming?

As of November 2025, there’s no official announcement about a new GENS airdrop. The project hasn’t released any public roadmap updates since mid-2024. Their website still lists the 2025-2030 plan, but there’s no evidence of new token distributions, liquidity incentives, or community campaigns.

That doesn’t mean one won’t happen. If Genshiro hits its 2025 milestones - especially if cross-chain liquidity improves or they launch a major new product - they might run another airdrop to spark interest. But don’t wait for it. The odds are low.

The project is still active. GitHub commits continue. Team members post on Discord. But the community is quiet. No viral campaigns. No big partnerships. No listings on major exchanges beyond Gate.io and MEXC.

If you’re hoping to get free GENS again, your best bet is to keep an eye on Gate.io’s Startup Free Offering page and MEXC’s Airdrop Center. But treat it like a lottery ticket - not an investment.

Should You Still Hold GENS?

If you’re holding GENS from the 2022 airdrop, here’s the reality: you’re not holding an asset. You’re holding a bet on a long-shot tech project.

The token’s value is almost zero. There’s no staking, no yield, no way to earn more GENS from holding it. The DAO doesn’t have enough voting power to make meaningful changes. The liquidity pools are nearly empty. It’s not a DeFi platform anymore - it’s a relic.

But if you believe in the long-term vision - multi-chain DeFi, low-risk cross-chain lending, Kusama’s potential comeback - then maybe you hold. Maybe you think the market will wake up in 2027 or 2030. Maybe you think the team will pull off the impossible.

Most people would sell. And they’d be right to do so.

What You Can Learn From the Genshiro Airdrop

This isn’t just a story about one failed token. It’s a lesson in how airdrops really work.

- Airdrops aren’t free money. They’re marketing tools for exchanges and projects.

- High reference prices don’t mean long-term value. They’re just hype numbers.

- Voting-based airdrops filter for engagement - but only if users actually care.

- If the token price crashes 99.98%, the project either failed or was overvalued from day one.

- Don’t chase airdrops because they’re “free.” Chase them because you believe in the tech - and you’re ready to lose it all.

Genshiro’s story isn’t over. But it’s not a comeback story yet. It’s a quiet one - of developers still coding, of a roadmap still on paper, of a token still trading at pennies. And that’s okay. Not every project needs to be a moonshot. Some just need to be honest about what they are.

If you’re looking for your next airdrop, focus on projects with real usage, real volume, and real teams. Not ones with pretty whitepapers and zero users.