One of the major selling points for Token Enrichment Network (TEN) is its easy-to-use platform (UI/UX), which gives users an experience unlike any other. Furthermore, TENFI aims at making Defi operations convenient for users with simplified yield farming and staking backed by the most liquid Binance Smart Chain Liquidity pools. So let’s take a closer look at this project.
What is TENFI?
Newbies tend to find Defi generally stressful. Not in terms of the cryptocurrencies but the Defi space itself. Most especially, in this current age of yield farming explosive growth. The problem is that there are many cryptocurrencies out there but not all are trustworthy.
Thanks to TEN’s commitment to exclusively curating and optimizing farms worthy of being used on the TEN platform for users. Users can now be assured of farms of the highest calibre whenever they use the TEN platform.
TEN plans to ease the process by creating a seamless and efficient process of staking assets. By staking assets on the TEN platform, users get to earn high rewards with modest APYs in the easiest and most secure process ever. This further ensures stable growth within the TEN platform, across multiple farming ecosystems. In return, these farms provide users with maximum yields with no risk.
TENFI ecosystem was launched to provide a sustainable and beneficial framework that ensured the ecosystem’s long-term survivability/adaptability. TEN ecosystem can survive, adapt, and evolve with the Defi space growth as time goes on. This advancement provides various high yield opportunities while ensuring the longevity and adaptability of the TENFI ecosystem. The goal of TENFI is to be one of the leading blockchains in the world of crypto.
One of the many unique features of the TEN ecosystem is its Easy-to-Use Interface, which we mentioned earlier. Most of its products will also make use of this distinctive easy-to-use feature to simplify their application systems.
For instance, TEN’s stake and earn function features are a three-click process:
- Connect your wallet to the platform
- Click on the liquidity pool you desire to farm
- Write in the amount of asset you want to stake, then click deposit
The process is completed after clicking deposit. Just as staking is done in three simple steps, so is unstaking of your assets:
- Reconnect your wallet
- Click on the liquidity pool used to stake
- Then click on the claim button.
Unlike other cryptocurrency projects, TEN’s YIELDEX was created to ease the time-consuming process of pairing and unpairing liquidity pool tokens. With YIELDEX, users can diversify their portfolio into multiple LPs and enjoy yield farming with just a click, provided BUSD or BNB is in the wallet.
The YIELDEX design consists of 5-8 LP tokens according to multiple AMMs, thus, allowing diversification and simplicity while earning LP rewards along with TENFI reward tokens.
- SLP YIELDEX- Stable LP
- PLP YIELDEX- Premium LP
- HYLP YIELDEX- High Yield LP
Since the launch of TEN finance, the team behind the protocol believes that they have helped with the simplification process of Defi. With the new YIELDEX in action, comes the evolution of this simplicity of investing into Defi.
Here are the three tiers under the TEN Lots of the revenue model run by TENFI. With the TEN Lots, investors simply have to stake their tokens to earn passively on the TEN ecosystems.
The three tiers of TEN Lots:
- Tier 1- 2,500 TENFI (Bronze)
- Tier 2- 50,000 TENFI (Silver)
- Tier 3- 250,000 TENFI (Gold)
The total TEN Lots per tier is summed up to be:
- Tier 1 Bronze (Total)- 30,0000 (75,000,000 Lifetime maximum)
- Tier 2 Silver (Total)- 1,500 (75,000,000 Lifetime maximum)
- Tier 3 Gold (Total)- 200 (50,000,000 Lifetime maximum)
Each tier is then broken down further according to the percentage of revenue to be split between TEN Lots holders:
- Tier 1 Bronze- 30%
- Tier 2 Silver- 40%
- Tier 3 Gold- 30%
It is important to have in mind that each wallet has a limit of 1 TEN Lot and each time withdrawal is done from a user’s TEN Lots, the vesting period resets back to zero.
What exactly is vesting?
From the perspective of TEN Lots, by vesting TEN Lots, users gain access to revenue from YIELDEX generated over time. This is to incentivize the token holders of TENFI to hold on to their TEN coins for longer periods as they stand to gain beyond the generated APR and TENFI rewards.
The vesting period is not only essential for the long-term future of TENFI token holders but also the TEN finance evolution and innovation.
The vesting period is shown below.
TEN coins were launched with no pre-mine or token allocations for the team or anyone else. From day 1, users were given equal opportunity to TEN coins availability for purchasing, staking, farming, and claiming TENFI tokens.
The total lifetime supply of TENFI is reported to be 256,000,000. That is inclusive of 2% of supply provided for purchase directly via https://ten.finance on the launch date before being listed on PancakeSwap. The current price of the TEN token is $0.120183 and it is a daily trading volume of $134,956.
It is advisable to note that the total lifetime supply will decrease due to the TENFI tokenomics of B2B (Buy to Burn). As said earlier, the TEN DEV team was not allocated with any TENFI tokens nor was it pre-mined by anyone. This further assures and convinces investors of the inevitable success of the TEN ecosystem.
The TEN team will only be able to earn their TENFI via TENFI stakeholders. This involves TENFI stakeholders allocating a 17.2% development contribution from the TENFI reward yields earned on the Ten.finance platform.
The TEN roadmap shows the promising outline that the TENFI team has for the protocol. Currently, the team is continuing its work on the YIELDEX development, continued effort on Marketing & PR, establishing mutually beneficial partnerships, developing TEN yield (formerly referred to as K-LP or LP4LP), continued research on Cross-Chain staking/farming, the introduction of new vaults, additional DEX LP’s for TENFI, and CEX listing negotiations.
In the future, the team is hoping to achieve the following:
- Rebalancing Stake Options for RYF (Rebalancing Yield Farm)
- Staking Yield Performance Charts
- Possible Cross-Chain Farming
- Random Bonus Days to APR
- TENSure Design & Ideation
- TENLend Design & Ideation
- TENDEX / TENSwap Research
- Tier 1 CEX Listing
How to Exchange TENFI on Swapzone?
If you are wondering whether it’s possible to get TENFI at the best rate, then the answer is yes. Swapzone offers you the ability to convert BTC to TENFI without all the hassles of opening an account and verifying it. Here’s you can do it:
Step 1. Go to Swapzone.io to get your work started.
Step 2. Select BTC in the “Send” section.
Step 3. Specify the total amount you are going to transfer.
Step 4. Select TENFI in the “Get Up To” section.
Step 5. Review the offers on the screen. You will find multiple offers with the best rate listed at the top. You can also see how many minutes it would take for you to complete the exchange.
Step 6. Confirm the offer you wish to utilize by clicking “Exchange” and then enter the wallet to receive TENFI.
Step 7. Use the generated BTC address to send your BTC deposit.
Step 8. Wait for the deposit to be processed by the exchange service and the exchange to be done.
Step 9. Do not forget to rate the exchange partner, so we can gather more information on the exchanges for future users.