Launch of Tenet’s BEP20 — ERC20 Token Bridge & Synchronization of Mining Rewards on Eth and BSC Blockchains
We will be launching the Tenet’s BEP20 — ERC20 Token Bridge on January 16th. To facilitate a successful swap process, matching amounts of TEN are required on both ERC20 and BEP20 are required. More details will be disclosed in our official swap guide which will be released prior to the launch of the bridge.
We had also noted the community’s feedback with regards to a synchronization of mining rewards on the Eth and BSC blockchains. A public vote was conducted in our Telegram group, with a majority of 70% pushing and supporting the synchronization of mining rewards. After careful consideration, we will be implementing the following adjustments to the mining model of TEN:
1. After the initial mining period ends for TEN, the remaining amount of TEN for mining and block generation rate will be readjusted to be the same on both the Ethereum and BSC blockchains.
2. An unreasonable APY will result in massive inflation and create downwards selling pressure on TEN. In order to circumvent such a situation, the remaining amount of TEN to be mined will be decreased to 204,252 (101,732 on ETH and 102,520 on BSC). After the readjustment, the total amount of TEN will will decrease to 3,457,970, in which 1,833,450 will be on ETH and 1,624,520 will be on BSC. The total supply of TEN will decrease by 55%. Please check the latest version of whitepaper of Tenet to know more about TEN tokenomics.
Besides, as a decentralized platform, we recently discovered the creation of some questionable Liquidity Taps on Tenet, using our platform to attract LPs. Therefore, in order to help our users evaluate risk better, we will introduce the following new requirements:
1. Once a Liquidity Tap is created successfully, it will be displayed in an section either approved by the team officially, or not yet approved by us officially.
2. The fee for creating a Liqudiuty Tap will be increased to 100 TEN. Half of the fee will be burned, while the remaining will be used for ecosystem development and marketing plans to incentivize current TEN token holders.