Read on Twitter
Liquid staking derivatives (#LSDs) are one of the hottest narratives to come out of DeFi this year, and it's not even started to take off ๐
And $TENET is one of the first movers into #LSDFi, a strong contender to capture a $17B+ LSD market ๐งต
1/20
And $TENET is one of the first movers into #LSDFi, a strong contender to capture a $17B+ LSD market ๐งต
1/20
Full disclosure I am partnered with Tenet but I strictly only partner with projects I invest in myself. I partnered with them because they are a great project.
Why are they great? Let's explore ๐
2/20
Why are they great? Let's explore ๐
2/20
๐ช Built for LSDs ๐ช
Tenet is an EVM L1 and the first L1 designed for LSDs, which are a rapidly growing narrative in DeFi.
LSDs enable yield farming without locking your tokens and allow staked assets to be traded or used in other DeFi protocols.
3/20
Tenet is an EVM L1 and the first L1 designed for LSDs, which are a rapidly growing narrative in DeFi.
LSDs enable yield farming without locking your tokens and allow staked assets to be traded or used in other DeFi protocols.
3/20
๐ช Community ๐ช
Tenet has built a huge community in a short period with over 191k Twitter followers and 80k Telegram followers ๐ฅ
We all know that community is as important as tech and Tenet has a huge and passionate community.
4/20
Tenet has built a huge community in a short period with over 191k Twitter followers and 80k Telegram followers ๐ฅ
We all know that community is as important as tech and Tenet has a huge and passionate community.
4/20
๐ช Tokenomics ๐ช
I always look at vesting first, and with Tenet, it's good! Early investors get 10% of their tokens at launch, a 3-month cliff and 4.5% monthly for 20 months.
This eliminates the risk of massive dumps from investors and there are no VCs, which is great.
5/20
I always look at vesting first, and with Tenet, it's good! Early investors get 10% of their tokens at launch, a 3-month cliff and 4.5% monthly for 20 months.
This eliminates the risk of massive dumps from investors and there are no VCs, which is great.
5/20
Tokenomics TLDR: Tenet uses the proven veTokenomics model to promote price stability, and strength all while generating high APY for stakers.
If the TLDR was enough skip to tweet 12. If you want a more complicated explanation here it is ๐
6/20
If the TLDR was enough skip to tweet 12. If you want a more complicated explanation here it is ๐
6/20
The tokenomics revolve around the $TENET token which is both the chains gas token and can be staked through Tenet's Diversified Proof of Stake (DiPoS) mechanism.
When staked you receive an LSD called $tTENET which you can then stake, unlocked, for APY.
7/20
When staked you receive an LSD called $tTENET which you can then stake, unlocked, for APY.
7/20
For more rewards you can lock $tTENET and get $veTENET, the longer you lock the more $veTENET you get (img below).
veTENET is a vote-escrowed token which uses a model called veTokenomics that incentivises long-term holding.
8/20
veTENET is a vote-escrowed token which uses a model called veTokenomics that incentivises long-term holding.
8/20
veTokenomics was first introduced by Curve Finance and has proven to be a good way to ensure long-term user commitment.
This reduces circulating supply, increases demand, and leads to more price stability. In other words, it's good for the price ๐
9/20
This reduces circulating supply, increases demand, and leads to more price stability. In other words, it's good for the price ๐
9/20
$veTENET owners earn APY from validator and protocol rewards, borrowing fees, block rewards and more, here is the full list:
10/20
10/20
I will be talking more about TENET tokenomics in future as it is quite complex. There is a lot to cover about FDV and the initial cap that would make this thread 40 tweets long if I got into it now. So, on the security ๐
11/20
11/20
๐ช DiPoS (security) ๐ช
The Diversified Proof of Stake (DiPoS) mechanism, leverages the security of multiple major networks by allowing the re-staking of LSDs from these networks. This approach enhances Tenet's security and makes it an extremely secure blockchain.
12/20
The Diversified Proof of Stake (DiPoS) mechanism, leverages the security of multiple major networks by allowing the re-staking of LSDs from these networks. This approach enhances Tenet's security and makes it an extremely secure blockchain.
12/20
๐ช Eva Wallet ๐ช
Tenet offers a wallet called Eva which is keyless. Honestly, I am not totally sold on keyless wallets but one thing I do know is that they are great for onboarding crypto newbies who don't know how or want to manage private keys.
13/20
Tenet offers a wallet called Eva which is keyless. Honestly, I am not totally sold on keyless wallets but one thing I do know is that they are great for onboarding crypto newbies who don't know how or want to manage private keys.
13/20
Eva also has an easy fiat on-ramp and uses AI voice/text commands for completing on-chain actions.
Most importantly, Eva's simplicity allows crypto newbies to easily access and use complex defi tools like LSDs which normally have a very high barrier to entry ๐คฏ
14/20
Most importantly, Eva's simplicity allows crypto newbies to easily access and use complex defi tools like LSDs which normally have a very high barrier to entry ๐คฏ
14/20
๐ช $LSDC ๐ช
This is a decentralised stablecoin backed by a distributed basket of LSDs such as ETH, BNB, ATOM, and ADA. It can be minted using overcollateralized LSD positions across various protocols and assets, ensuring its peg without relying on centralisation.
15/20
This is a decentralised stablecoin backed by a distributed basket of LSDs such as ETH, BNB, ATOM, and ADA. It can be minted using overcollateralized LSD positions across various protocols and assets, ensuring its peg without relying on centralisation.
15/20
The stablecoin is overcollateralized, supported by an on-chain proof-of-reserve for solvency and resilience against black swan events. This means that the reserves for LSDC can be verified at any time by looking at on-chain data ๐คฏ
16/20
https://twitter.com/tenet_org/status/1648702625540341761
16/20
๐ช Team & Funding ๐ช
Tenet is co-founded by Greg Gopman, previously CMO at @ankr and has a team of 40 experienced people, including 28 devs.
There are no VCs to dump on you and influencers/public sale holders are vested as mentioned earlier.
17/20
Tenet is co-founded by Greg Gopman, previously CMO at @ankr and has a team of 40 experienced people, including 28 devs.
There are no VCs to dump on you and influencers/public sale holders are vested as mentioned earlier.
17/20
๐ช Potential Negative ๐ช
When investing you should always look for drawbacks that may impact your investment and Tenet has one... Lack of flexibility.
As it's optimised for LSDs it's not well-suited for other uses. This means if the LSD narrative dies, so could Tenet.
18/20
When investing you should always look for drawbacks that may impact your investment and Tenet has one... Lack of flexibility.
As it's optimised for LSDs it's not well-suited for other uses. This means if the LSD narrative dies, so could Tenet.
18/20
๐ช Gameplan ๐ช
As with any new token release, I WILL NOT ape in on release day but I will watch how it plays out over the first few days/weeks. I will give you a heads-up when I enter. I am not in the presale for this one!
As always, DYOR and this is not financial advice!
19/20
As with any new token release, I WILL NOT ape in on release day but I will watch how it plays out over the first few days/weeks. I will give you a heads-up when I enter. I am not in the presale for this one!
As always, DYOR and this is not financial advice!
19/20
I hope you've found this thread helpful.
Follow me @LadyofCrypto1 for more.
Like/Retweet the first tweet below if you can:
20/20
Follow me @LadyofCrypto1 for more.
Like/Retweet the first tweet below if you can:
20/20
https://twitter.com/LadyofCrypto1/status/1661070710763290625
โข โข โข
Missing some Tweet in this thread? You can try to
force a refresh
ใ
