The Top Tenet ecosystem projects
The recent launch of its bridge and Mainnet Beta are clear indicators of the network's growth and potential. The seven projects highlighted here demonstrate the diversity and creativity within the Tenet ecosystem.
Tenet is a layer-1 DeFi blockchain solution designed to make your crypto life easier. Built using the versatile Cosmos SDK, Tenet brings a novel approach to improving network security and using Liquid Staking Derivatives (LSDs) in a way that's more secure than traditional methods. The team has not only launched a live bridge but also rolled out their mainnet beta. These aren't just technical feats; they're significant milestones that open up a world of possibilities for new projects.
The live bridge is making it easier than ever to conduct transactions across various blockchains. It's a major leap that solidifies Tenet's role as a leader in blockchain connectivity. But that's not all. The mainnet beta is another crucial development. It gives users the opportunity to test the platform's features and offer feedback. This phase is essential for refining the system before its full launch, ensuring that Tenet's offerings meet the needs of a demanding market.
Currently, in the Beta Mainnet Stage, Tenet has not drawing much industry attention, due to the deep Bear market. We will spotlight projects with the potential to grow if Tenet becomes mainstream. If you are interested in learning more about Tenet and technology behind it read our deepdive here.
Maverick Protocol has introduced a new kind of infrastructure that focuses on highly liquid markets. Its unique Automated Market Maker (AMM) enhances capital efficiency and adjusts liquidity based on price changes. This not only benefits traders with better prices but also increases fees for those providing liquidity. Additionally, Maverick offers a unique feature that lets liquidity providers bet on the future prices of specific tokens.
In a significant development, Tenet has decided to move the liquidity of its native token, TENET, to Maverick Protocol. This migration is more than just a technical shift; it's a strategic partnership that benefits both platforms. For users, this means they can now participate in Maverick's ecosystem incentives when they provide liquidity for the TENET/USDT pair.
So, what's the big picture? Tenet's recent migration to Maverick amplifies this by opening up new collaborative opportunities. Whether you're a trader or a liquidity provider, these developments offer exciting possibilities.
Tenet has introduced a unique NFT collection called TROOPERS, which goes beyond being mere collectibles. Created on Mercle's identity platform, these NFTs reflect a user's activities and contributions in the Tenet community. They're built as standard ERC-721 tokens with verified claims, aiming to redefine the utility and membership value of NFTs. Users can customize their TROOPERS, making them not just digital assets but also a status symbol within the Tenet ecosystem. They even offer ways to earn through the development of rare traits.
The TROOPERS are interactive by design. Users earn XP points by engaging in tasks related to blockchain, community, and social activities. These points unlock special rewards and exclusive spaces. The whole initiative is structured in three stages, each offering increasingly valuable and rare rewards as users progress.
So, TROOPERS are not just another NFT collection. They serve as evolving digital identities in the Tenet ecosystem, providing a gamified way for the community to engage.
Tendie Swap aims to be a DeFi Hub for all things DeFi in the Tenet ecosystem. The platform is working on a range of offerings such as a DEX, Launchpad, and features for Bonding, Staking, and Farming. A standout feature is its Initial Bonding Offering (IBO) for the native $TENDIE token. The IBO is designed to draw in liquidity by letting investors bond their $TENDIE-$TENET Liquidity Pool tokens. After depositing these tokens into a Bonding contract, users get an NFT Bond, which they can use to claim tokens over five days. Tendie Swap has amassed less then $100k in TVL.
While the team behind Tendie Swap chooses to remain anonymous for regulatory reasons, they have the backing of the Tenet Foundation.
RocketX is a platform founded in 2021 with the goal of making crypto swaps simple and accessible for everyone. It also aims to enhance the interoperability between various blockchains. The platform offers a range of features, including the ability to swap, bridge services, and even walletless swaps.
In addition to these features, RocketX offers a referral program and provides APIs for partners. They've even developed a swap widget for easier transactions and an educational platform called RocketX Academy. The team behind RocketX is led by Kiran Mannam as the Project Lead, Davinder Singh as the CTO, and Prathap Simha as the Senior Software Architect. RocketX has also gained recognition through its partnerships. For instance, it has teamed up with Huobi to offer decentralized access to deep liquidity pools. The platform has also expanded its services by integrating DOGE and the TRON Network, making it even more versatile for its users.
Recently, RocketX secured a developer grant from Tenet Org, aiming to boost the interoperability of Tenet's mainnet. This new integration is set to simplify the onboarding process for new users, increase the number of users and transactions, and give a significant boost to the Tenet mainnet.
DynaSwap is currently in its testnet phase, aiming to streamline and enhance crypto trading. Built on the Tenet blockchain, it specializes in gas efficiency, seamless cross-chain transactions, and high returns from liquidity staking. DynaSwap uses automated market maker contracts for quick and direct blockchain transactions.
The platform offers a variety of features. For instance, it enables fast asset swapping and yield farming, allowing users to maximize their returns. It also offers automated portfolio management to optimize asset growth. One of its standout features is Smart Routing, which scans various liquidity contracts to find the most profitable transaction path for traders.
Security is another focus, with features designed to protect against common DeFi risks like Miner Extractable Value attacks. On the tokenomics front, Dyna Token is deeply integrated into the platform. It not only fuels transactions but also allows for fee reimbursements in the form of tokens. Additionally, holding Dyna Tokens gives users a say in the platform's governance. The supply of Dyna Token is limited to 210 million, aimed at maintaining low inflation and preserving value.
LSDPad is a specialized launchpad zeroing in on the area of liquid staking. It's built on the Tenet blockchain. This gives LSDPad a unique advantage, allowing it to showcase new and promising LSD projects. The platform also has the support of the Tenet Foundation, which provides it with special access to pre-sales within the Tenet ecosystem. This covers a wide array of initiatives, from DeFi projects that focus on LSD to LSD-based gaming and incentive products.
One of the features of LSDPad is its commitment to community access. It offers its members early entry into various projects in the LSD ecosystem, including those on other blockchains. This is a big deal for developers as well, who can immediately tap into a $20 billion economy and gain both funding and community backing.
Staking is another key aspect of LSDPad. The platform offers different levels of staking, starting from a beginner level that requires staking 2,500 $LSDP tokens, all the way up to a guru level that requires 200,000 $LSDP. The more you stake, the more you can allocate in Initial DEX Offerings (IDOs).
But what really sets LSDPad apart is its Fairdrop system. A generous 20% of the total LSDPad token supply is set aside for this. The Fairdrop is open to anyone staking $TENET tokens or major LSDs from partner protocols like Ankr, Stader, and Lido. Specifically, Tenet stakers can access an exclusive 10% pool of the LSDPad supply, while major LSD stakers can also access another 10%.
LSDC, short for Liquid Staking Dollar, is a USD-pegged stablecoin that operates on the Tenet Stablecoin Protocol. The protocol itself is decentralized and uses the Liquity model to allow users to draw interest-free loans against yield-bearing collateral assets. The loans are given out in LSDC and must maintain a minimum collateral ratio to ensure the system remains healthy and over-collateralized.
The protocol offers several advantages. For starters, it allows borrowers to earn interest on their underlying collateral, essentially letting them borrow for free. It also offers a low minimum collateral ratio, starting at 125%, which enables more efficient use of assets. LSDC can be redeemed at face value for the underlying collateral at any time, providing flexibility and security to its users.
One of the unique features of LSDC is that it's minted against Liquid Staking Derivatives of assets staked on Tenet Validators. This means the collateral itself is yield-bearing and appreciating in value. This enables end-users to continue earning interest on their collateral while also having on-demand liquidity by minting the stablecoin.
The protocol also includes a Stability Pool that contains LSDC and acts as a last-resort guarantor for the loans. This pool is governed by the validator network on the Tenet blockchain, making it highly secure and resistant to governance-based attacks. In terms of fees, there's a one-off fee when LSDC is borrowed and when it's redeemed. The fee structure is designed to throttle large redemptions and borrowing activities, ensuring the system remains stable.
The Tenet ecosystem is slowly growing, offering a plethora of solutions. From its mainnet beta and live bridge enhancing interoperability, to specialized platforms like DynaSwap and LSDPad focusing on niche markets, Tenet is setting new standards. The introduction of LSDC, a stablecoin with unique features, further adds to the ecosystem's robustness.
Tenet appears well-positioned to not only adapt but also lead in innovation. The Tenet ecosystem has only started, bridging over is just the first step.
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