This Project Looks to Bridge Multi-Chain Gaps as the Layer 2 of DeFi

As interoperability continues to prove a pain point for AMMs, Tenet connects popular DeFi protocols via the native $TEN token. 2020 saw decentralised finance protocols unlock a suite of new and exciting passive income opportunities. Decentralised AMM (automatic market maker) exchanges such as Uniswap, Balancer and Curve have become hugely popular platforms, with liquidity mining […]

This Project Looks to Bridge Multi-Chain Gaps as the Layer 2 of DeFi

As interoperability keeps on demonstrating a problem area for AMMs, Tenet associates well known DeFi conventions through the local $TEN token. 2020 saw decentralized money conventions open a set-up of new and energizing automated revenue openings. Decentralized AMM (programmed market producer) trades, for example, Uniswap, Balancer and Curve have become enormously well known stages, with liquidity mining and yield cultivating filling in prevalence. Entering 2021, the complete worth secured DeFi conventions is as of now over $17 billion. Albeit decentralized money conventions have advanced quickly in a short space of time, there are as yet a few problem areas that exist inside the DeFi space. With regards to liquidity mining, complex shrewd agreement creation for project groups and awkward client encounters for liquidity suppliers that utilization a few AMMs immediately are bottlenecks that require consideration if the space is to developed further. Upheld by DREP Signal Labs, a blockchain hatchery upheld by the DREP Foundation, Tenet hopes to handle these difficulties as a cross-chain AMM "super connector". The task gives a decentralized Liquidity Tap to different tokens and associates decentralized trades on a few famous blockchains. DeFi Sector Complexity Projects, token guarantors and liquidity diggers all face bottlenecks while navigating the current DeFi scene. On the interest side, token backers experience perplexing and unsafe difficulties when planning keen agreements for use across different AMMs, as they should guarantee that there is a corresponding circulation of token compensations for liquidity suppliers. On the liquidity supplier side, AMMs dependent on various public chains imply that those yield cultivating face expanded expenses, additional time spent executing and an unwieldy generally speaking client experience. Layer 2 Cross Chain DeFi Innovation Tenet hopes to address the previously mentioned issues with a cross-chain AMM connector, layer 2 arrangements, adjustable plan arrangements and a profound liquidity generator. The stage likewise offers quicker cross-stage and cross-chain resources trading by means of an "AMM Integration Framework" convention, making connections with various blockchains and AMMs simpler and quicker. Liquidity suppliers store their exchanging pair LP Tokens in Tenet, and thus are given mining prizes from both the liquidity tap makers and the Tenet convention. White Label Liquidity Tap Tenet offers DeFi projects a whitelabel fountain answer for rapidly and effectively make boosted liquidity pools on different conventions across both Ethereum and Binance Smart Chains. The task's Layer 2 AMM connector, or Liquidity Tap, permits token backers to begin a pool and boost it with their own local token or Tenet's local $TEN token (or both) at that point divert TEN motivations to it by utilization of a simple to-utilize interface. Ventures can completely alter boosted liquidity pools without breaking a sweat, and different boundaries can be changed, for example, AMM stage choices in the underlying stage, local symbolic issuance convention alternatives, mining cycles, starting motivation prerequisites and mining income practice choices. Polkastarter IDO Tenet led a public offer of TEN tokens on fifth January 2021 at 7:00 UTC on Polkastarter, a stage that has facilitated a few fruitful task dispatches as of late. Altogether, 300,000 TEN ERC20 tokens were sold at a cost of $1 USD per 1 TEN, with two separate pools. The primary pool held $200,000 worth of TEN tokens accessible to a Public Whitelist Pool, the second held $100,000 worth of TEN accessible to the individuals who have held 3,000 POLS tokens for over 7 days. The greatest individual cap was 1 ETH. PancakeSwap IFO The task additionally led a public symbolic deal on PancakeSwap around the same time (fifth January 2021) and 1,000,000 TEN BEP20 tokens (13% of the all out TEN stock) were sold during the Initial Farm Offering. The cost per token was set at a similar rate as the Polkastarter deal at $1 USD per TEN token. Picture by David Mark from Pixabay