Thread by @GonzoXBT

Welcome to the world of $TENET, an EVM-compatible Layer-1 blockchain that's revolutionizing the crypto space.

This is a Part 1 FA thread about #TENET.

Today I'll focus on its unique technology, Diversified Proof of Stake (DiPoS).

Let's get started!🧵 #Crypto #Blockchain

/1

Today they have been listed on several big centralized exchanges:

- Bybit
- Kucoin
- Bitfinex
- Huobi
- Gate
- MEXC
- Bitmart

Today the journey of $TENET begins.

/2

Short introduction:

$TENET is all about bringing liquidity and yield opportunities to LSDs by using them as collateral for network validators through Diversified Proof of Stake.

This increases network security and improves governance inclusivity.

/3

Staking Providers active on the $TENET network can issue a tLSD (Tenet Liquid Staking Derivative) which represents LSDs staked to network validators.

tLSDs combine two sources of yield and make them pristine collateral to be used in an expanding ecosystem of LSDfi-protocols.

/4

$TENET employs veTokenomics at the chain level to direct emissions from block rewards and other dAPP user incentives.

Users locking the Tenet asset in this mechanism receive yield from protocols deployed across the ecosystem.

/5

LSDC is the native stablecoin of the Tenet blockchain and is minted against overcollateralized positions of tLSDs.

This represents a third yield opportunity for capital deployed to Tenet.

We will talk about TENET's Stablecoin protocol in a thread Part 2.

/6

TENET is a layer 1 blockchain that natively supports LSDfi, increasing capital efficiency for users of neighboring chains and allowing DeFi protocols that benefit from several yield sources.

/7

Now, let's delve into TENET's Diversified Proof of Stake (DiPoS) technology.

DiPoS allows network consensus to be reached by validators that stake a basket of assets, enhancing network security.

/8

The consensus can approve additional assets that can participate in network security, but the genesis stake in network security is allocated to $ETH, $ATOM, $BNB, $MATIC, $ADA, and $DOT.

Naturally, TENET is a key part of the basket.

/9

The most important achievement of this model is its ability to enhance network security by relying on the shared market strength and difficulty of mass control of a robust basket of assets.

Any network attacker would need a significant market share in all of these assets.

/10

This allows TENET – from its initiation – to be the most secure blockchain network.

It benefits from the combined security of a basket of assets, which when put together are more secure than any individual asset in the basket, including $ETH.

/11

TENET's basket of validation assets uses Proof of Stake assets.

Therefore, Tenet accepts liquid staking derivatives such as those minted via protocols like Lido and RocketPool or even institutions like Binance and Coinbase.

/12

LSDs like stETH and cbETH can be used to participate in Tenet validation and earn network transaction fees, while still earning the ETH staking yield that the LSDs offer.

These LSDs are easy to capture as there is often low demand for them.

They are just held in wallets.

/13

LSD holders can become Tenet validators or delegators to other nodes.

They can then continue to earn their yield while earning a second layer of income through the block rewards and transaction fees building up on Tenet.

Over $25B is held in LSDs.

/14

The Diversified PoS module allows native stakers to decide which assets they want to add to the blockchain.

A proposal can then be created & submitted to the blockchain's governance.

This proposal contains a title, description & the denomination of the asset to be added.

/15

Once the proposal is approved by the governance system, the asset becomes a Diversified PoS asset, which can be staked by users to start earning rewards.

The amount of rewards a DiPoS asset accrues is determined by the asset's Reward Weight, which is set by governance.

/16

The TENET blockchain generates staking rewards from two sources:

1. Inflation rewards - new native tokens that are minted & released as rewards for every block according to the chain's inflation rate.

2. Gas fees - the computational tx fees applied to every blockchain tx.

/17

TENET's DiPoS allows network consensus to be reached by validators that stake a basket of assets.

This removes the risk of the network being owned by a large controller of a single asset as mentioned before.

/18

The probability of a network attack reduces exponentially with each new asset class needed to maintain network control.

/19

That's it for today's thread on TENET's introduction and Diversified PoS technology.

Stay tuned for the Part 2 of $TENET FA thread where we'll dive into TENET's stablecoin protocol.

As always, do your own research.

/20

Tagging some big brains that maybe like $TENET:

@CryptoPoseidonn
@KAPOTHEGOAT01
@AltcoinGordon
@bull_bnb
@Phoenix_Ash3s
@CryptoLimbo_
@Pentosh1
@Livercoin
@CryptoYoddha
@btc_charlie
@Bullrun_Gravano
@MacnBTC
@CryptoWizardd
@FeraSY1
@CanteringClark
@TeddyCleps

Tagging some more big brains that maybe like $TENET:

@blackbeardXBT
@TheCryptoDog
@CryptoMocro_
@altcoinrookie
@tradinglord
@trader1sz
@RookieXBT
@Tradermayne
@thecryptomonk
@cousincrypt0
@notEezzy
@StrongHedge
@crypto_birb

TENET socials:

twitter.com/tenet_org
t.me/TENETPublicChat

That's it. I hope you have a better understanding of the 1st breakthrough technology of $TENET.

2 more threads are coming:

Part 2 - TENET's Steblecoin protocol
Part 3 - Tokenomics, Team, Roadmap, Community

Don't forget to RT the 1st tweet & follow me🙌

https://twitter.com/GonzoXBT/status/1661728961905451009?s=20