Tenet Launches Its First Liquidity Tap with Fountain (FTN), Reaching 12 Million Jianshu Users
Tenet is the first cross-chain DeFi Layer 2 facility, launched on January 5, 2021. The first Liquidity Tap creator, Fountain, has officially started its Tap. Now available are FTN rewards. TEN rewards will be added soon.
Fountain is a blockchain project backed by enormous traditional Internet user base. As Fountain’s important partner and preferred approach to explore DeFi, Tenet will potentially encourage over 12 million users to participate in liquidity mining on its innovative AMM Super Connector platform. The Liquidity Tap will help support Fountain’s distribution of Jianshu Bei token obtained through official Fountain super weight.
As the first partner of Tenet to create a Liquidity Tap on eth.tenet.farm, Fountain is a block-chained content ecosystem based on Proof of Contribution. Fountain is backed by China’s Top original content community Jianshu.com. Established in 2013, Jianshu relies on convenient creative tools and intelligent distribution strategies, Jianshu has gathered a large number of high-quality authors and content. Jianshu has received multiple financing from SIG Heiner Asia, Junlian Capital, Saifu Investment Fund, Gobi Venture Capital and other quality investment institutions. Jianshu has been launched on the web, iOS, Android and other mainstream platforms. With a total registered number of users of more than 12 million, an average of one new piece of content is published every second. The average monthly traffic is 200 million visits.
The product idea of Fountain is similar to that of Steemit, an established block-chained content platform. However, Fountain is backed by the Jianshu in China, far surpassing Steem’s user advantage, and is more suitable for developing partners and users in East Asia and Southeast Asia.
Fountain officially announced in January 2021 to select Tenet as its first-choice platform to distribute its FTN/ETH LP tokens. Its partnership with Tenet will encourage FTN holders to provide liquidity to FTN/ETH pools on Uniswap. Today, FTN/ETH LP Token holders can add LP Tokens on Tenet to obtain FTN awards. The rate of return, denominated in FTN tokens, is already pretty substantial as you can see below. However, it should increase oven more once initial TEN mining has commenced. As the rewards are fixed on a per block basis, the rate of yields will vary according to the amount of LP tokens added.
The ID of official Fountain’s Liquidity Tap on Tenet is: FTN/ETH-#11574627.
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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