Genius Ends Season 2 With 173M GP Issued, Opens Refund Window

The gap between the 173 million GP issued and the 200 million planned is the quiet signal here: distribution undershot the target, and the refund mechanism now gives participants a one-time choice between recovering fees and keeping earned GP. That trade-off effectively prices the GP earned during Season 2 against the fees paid, and the burn of corresponding buyback tokens ties the refund outcome directly to supply. Whether the refund window sees heavy uptake — and how that reshapes the remaining GP and token float — is the open question worth watching.