Tenet Initial Mining Announcement and Participation Guide

Following the successful public sale on Polkastarter and PancakeSwap, we’re pleased to announce Tenet (TEN) initial mining will start at 10AM (UTC) JAN 8TH 2021!

As the first cross-chain DeFi Layer 2 AMM platform, we had gained much traction in recent weeks and received numerous enquiries from prominent projects interested in partnering and establishing their liquidity taps on Tenet. For instance, the first project on Tenet V1 ETH version is Fountain, a blockchain project backed by China’s top content community Jianshu.com with over 12 million user base.

In order to ensure that there is no confusion during the initial mining phase, liquidity taps that are already created on the platform will be made hidden from public view. For upcoming projects looking to establish their liquidity taps on the Tenet platform, a token fee of 100 TEN will be charged, before undergoing a screening process by the team. Please do take note that in the event the application wasn’t approved, the fee will not be refunded.

50% of the liquidity tap creation fees will be burned in order to strengthen TEN’s tokenomics. What’s more, fees charged and proportion of TEN burned can be adjusted through community governance.

Why you should participate in TEN initial mining?

1. Marginal diminishing returns mining model of TEN: the returns on TEN mining is marginally diminished, which means the early birds will get more benefits.

On Ethereum, the initial block reward of TEN is 10, which lasts for 20,000 blocks. After that, the block reward is adjusted to 5, and decreases by 5% for every 40,000 blocks (one cycle). Mining is expected to conclude after 50 cycles.

On Binance Smart Chain, the initial block reward of TEN is 0.2, which lasts for 100,000 blocks. After that, the block reward is adjusted to 0.1, and decreases by 5% for every 200,000 blocks (one cycle). Mining is expected to conclude after 50 cycles.

2. The Scarcity of TEN tokens: TEN captures the liquidity tap creation fees and more projects are lined up to get on Tenet. In Tenet V1, 10 TEN will be charged as fees for creating Liquidity Tap, 70% of the liquidity tap creation fee will be burned in order to strengthen TEN’s tokenomics.

Tenet has no any presale before initial public sale, only have $300,000 USD IDO of TEN (ERC20) on Polkastarter and $1,000,000 USD IFO of TEN (BEP20) on PancakeSwap, the price of IDO/IFO remain the same at 1 $TEN = 1 USD.

3. The Value of TEN tokens: Apart from being payment on Tenet, TEN Token is the governance token. With liquidity taps for governance token trading pair LP token, Tenet gives the right to distribute TEN token reward to liquidity taps created by other projects. The goal is to encourage more liquidity tap creators to trade and add TEN on Uniswap to obtain TEN trading pair LP token.

At the same time, Tenet team is working to develop function of eliminating liquidity mining bubbles by optimizing LP token pool algorithms, staking mechanism and NFT collateral, in order to provide support for the application of AMM mechanism. TEN will become the fundamental payment method for those function modules.

How to participate in TEN INITIAL MINING?

1. TEN Initial Mining Launch Time: 10AM (UTC), Friday, JAN 8TH, 2021

The Initial Mining Block on ETH mainnet: #11613470 (Countdown: https://etherscan.io/block/countdown/11613470)

The Initial Mining Block on BSC mainnet: #3806850 (Countdown: https://bscscan.com/block/countdown/3806850)

2. The Entrance of TEN Initial Mining:

https://eth.tenet.farm (Ethereum);

https://bsc.tenet.farm (Binance Smart Chain);

3. TEN Initial Mining Pools - TEN and DREP:

[ TEN Liquidity Tap ]

• Add TEN LP Token to start mining.
• Mined token amount = Proportion of added LP Token * Share of users’ token * Current block awards
• TEN mining awards will be divided at a certain ratio to Liquidity Tap creators and liquidity providers. The initial ratio is 1:1. After every 80000 blocks on Ethereum or 400000 blocks on Binance Smart Chain, the ratio will be recalculated according to the amount proportion of their added LP Token.
• Mined TEN tokens are locked in for a period of time after they are mined. 40,000 blocks will be locked on Ethereum and 200,000 blocks will be locked on Binance Smart Chain.

[ DREP Liquidity Tap ]

• Add DREP LP Token to start mining. Users can mine for DREP Token and TEN Token.
• Mined DREP token amount = Proportion of added LP Token * Current DREP block awards
• Mined TEN token amount=Proportion of added LP Token * Current TEN block awards * Share of DREP Liquidity Tap creators’ token.
• Mined TEN tokens are locked in for a period of time after they are mined. 40,000 blocks will be locked on Ethereum and 200,000 blocks will be locked on Binance Smart Chain.
• Mined DREP tokens won’t be locked in after they are mined.

The Comprehensive Guide of TEN Initial Mining

STEP 1 Go to Tenet website. ETH: https://eth.tenet.farm; BSC: https://bsc.tenet.farm.

• TEN Liquidity Tap supports both ETH and BSC.
• DREP Liquidity Tap supports only ETH.

STEP 2 Enter “TEN” or “DREP” in Search bar to find TEN or DREP Liquidity Tap.

• IF mining doesn’t start, click [Start soon] to search; If mining already starts, click [Ongoing] to search.
• Note: TEN official Liquidity Tap has a blue [Official] tag next to the name of liquidity tap at the right.

STEP 3 Choose liquidity tap and click [Choose]. Please confirm that your addresses are right as below:

[ ETH-TEN ]

• Uniswap：0x54f7cd0b73d2a55815f2e35a7e2cd223ea7d3ca1
• Ten Address：0x74159651A992952e2bF340D7628459aA4593fc05

[ BSC-TEN ]

• Pancakeswap：0x01ecc44ddd2d104f44d2aa1a2bd9dfbc91ae8275
• Ten Address：0xdFF8cb622790b7F92686c722b02CaB55592f152C

[ ETH-Drep ]

• Uniswap：0xdb9cae69f00d479297b70d73c120989f9eae3a26
• Drep Address：0x22de9912cd3d74953b1cd1f250b825133cc2c1b3

STEP 4 Click [Unlock Wallet] and select a wallet supplier to connect your wallet.

STEP 5 Click [Authorize] to authorize LP token for liquidity tap. Confirm authorization through your wallet. Please wait on-chain miners to confirm your authorization application. Waiting time depends on on-chain traffic condition.

STEP 6 After authorization, add your TEN LP Token to start mining.

• If you have LP Token, click [Add LP Token] and a window will pop up requiring you to enter and confirm the amount of LP token you want to add. After on-chain trade succeeds, your LP token will be put into liquidity tap.

• If you don’t have LP Token, you can choose to obtain LP Token by swapping and adding tokens on AMM platforms according to trading pair address and TEN address provided, or you can use Tenet’s “Convert and add LP Token” functionality.

Click [Convert and add LP Token].

According to your holding tokens, you can choose single-currency exchange or multi-currency exchange.

• Single-currency exchange: According to token value, Tenet will automatically buy another Token you want to add with your token proportionately, and automatically add Token into AMM platforms. LP Token you got in this process will be automatically added into Liquidity Tap.
• Multi-currency exchange to swap LP Token with one click: Tenet will add and swap LP Token with your 2 Tokens. LP Token will be automatically added into Liquidity Tap.

About Tenet

Tenet is the whitelabel geyser solution that all DeFi projects can use to quickly spin up incentivized liquidity pools on various protocols across Binance Smart Chain and Ethereum, and more blockchains to be connected. Looking forward, Tenet will attract more partners like Fountain with enormous user base, integrated product ecosystem, and high-quality backing partners to create their Liquidity Taps on Tenet with just one click.

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