GenesisL1 (L1): What It Is, Uses and Risks

GenesisL1 (L1) is described by its project as a live, public, permissionless proof-of-stake Layer 1 blockchain built for decentralized science (DeSci), bioinformatics, verifiable data, machine learning and programmable digital assets. It combines a Cosmos SDK and CometBFT application chain with an integrated Ethereum Virtual Machine (EVM), so Solidity smart contracts can run alongside native staking, governance and Inter-Blockchain Communication (IBC). The stated aim is to let researchers, developers, institutions and autonomous software publish and tokenize datasets, molecular structures and models, manage programmable rights, and run deterministic on-chain inference with inputs, model versions and outputs that can be checked independently. The project's launch date and consensus details are not given in the data available for this page, so treat its operating history as unverified here.

According to the project description, L1 is the network's native asset. It is used to pay gas for transactions, to stake in support of the proof-of-stake network, to vote in governance, to fund the community pool, and, optionally, to settle payments inside applications. Those uses are what the project says the token is for. Holding the token does not by itself give any claim on revenue or profits, and the data does not describe any such arrangement. Whether these functions work as described on a given chain or bridge should be checked against the project's own documentation and live network behaviour rather than taken from a summary.

As of 2026-11-05, the data shows a price of about $0.278 per L1, a market capitalization of about $11.8 million and a fully diluted valuation of about $13.4 million. Trading volume over the prior 24 hours was about $19,252, and the market capitalization rank was 1143. The token rose about 62.5% over the prior seven days. The all-time high was about $0.361 on 2026-10-01 and the all-time low was about $0.080 on 2026-08-18. The circulating supply was about 42.4 million L1 and the total supply about 48.1 million, with no maximum supply listed. These figures change constantly and are given only as a snapshot. Thin daily volume means prices can move sharply on modest trades.

The data lists L1 as issued on Base and Osmosis, and tags it with the Base Ecosystem and Osmosis Ecosystem categories. The data also shows an empty list of native chains for the token. This is not fully consistent with the project's description of L1 as its own chain's native asset, so the page does not settle which description is accurate. A token issued on several networks can exist as separate versions that are not automatically interchangeable, and bridged copies carry extra smart contract risk. Before interacting with any version, confirm the network, the official contract address and how the version was issued.

Several risks apply. The token is small by market capitalization, trades in low daily volume and has moved very sharply over short periods, as the recent gains and the gap between its all-time high and low show. Projects in early stages can change code, tokenomics or governance, and a proof-of-stake network carries validator and slashing risk. Bridges and smart contracts can be exploited, and scam tokens often copy names and symbols. To store L1, use a self-custody wallet that supports the relevant network, back up the seed phrase offline, and never share it. Confirm contract addresses only from the project's official channels, and start with small test transfers before moving larger amounts.