Jan 1, 2021
The Tenet team is excited to announce its partner for distributing TEN tokens on Ethereum — the inimitable Polkastarter!
Since its launch on December 15, the Polkastarter platform has hosted many successful project launches, many of which have gone on to experience impressive returns upon listing on other decentralized and centralized exchanges. Today we are proud to say that Tenet (TEN) will be joining the ranks of those all-star projects… and soon!
Concurrent with our previously announced Initial Farm Offering (IFO) on Pancake Swap, we will be holding a contribution event for our ERC20 TEN tokens on Polkastarter. The very first Cross-Chain AMM Liquidity Connector will start its trajectory on the POLS platform on Tuesday, January 5. That’s in only 3 days!
IDO Details on Polkastarter
If you are interested in getting a stack of TEN tokens to make it easier to mine in the future, here are some important details to guide your contribution:
1. This public round will open on Tuesday, January 5th at 3pm UTC+8 or 7am UTC.
2. A total of 300,000 $TEN tokens will be offered.
3. The price per $TEN token in this public round is $1 per $TEN.
4. There will be two (2) separate pools for contribution:
(1) $200,000 will be made available to a Public Whitelist Pool.
(2) $100,000 will be made available to a pool exclusively made for those contributors who have held 3,000 POLS tokens for more than 7 days.
5. To join either pool, you must first whitelist your Ethereum address (details below).
6. The only crypto that will be accepted is Ethereum (ETH).
7. The maximum contribution limit per contributor is 1 ETH.
8. The ETH peg will be set on January 4, approximately 24 hours before the fixed swap pool goes live.
By placing a maximum cap of 1 ETH (approximately $750), our goal is to attract 400 new token holders to the Tenet community.
If this is your first time hearing about the Tenet project, here is a summary introduction. Tenet is a whitelabel geyser solution that all DeFi projects can use to quickly spin up incentivized liquidity pools on various protocols across Ethereum and Binance Smart Chain. Other blockchains are in the works. Incentives can include both the project’s own native token and Tenet’s native $TEN token. If the project provides $TEN liquidity itself, they can easily redirect their $TEN incentives to their own LPs.
For example, if a project wants to start a Balancer liquidity pool, they can start the pool, incent it with their own token and redirect TEN incentives to it all within our easy-to-use interface at https://eth.tenet.farm/pool/create. We call this idea a Layer 2 AMM connector or Liquidity Tap. It’s a ready-to-go product that cannot be found anywhere else in the DeFi universe. Check it out! And if you’re a project looking to reward your users in a fair and transparent way, get in touch with us via our Twitter or Telegram!
TEN Token Metrics
Tenet is a cross-chain AMM connector with a token supply spread across two blockchains for now — Ethereum and Binance Smart Chain (BSC).
- Total Token Supply — 7.65 million $TEN
- 5.72 M $TEN are ERC20 (75%)
- 1.93 M $TEN are BEP20 (25%)
- $TEN Price at IFO/IDO — $1
- $TEN Initial Market Cap — $1.53M
- $TEN Fully Diluted Market Cap — $7.65M
There are 3 million pre-mined $TEN tokens. The remaining 1.47M tokens will be used for 2 primary objectives. First, they will provide liquidity for various AMM protocols on multiple blockchains. Second, they will be held in an ecosystem fund so that projects that would like to engage with the Tenet protocol can easily acquire tokens to kickstart their Liquidity Tap.
How to Whitelist for the $TEN Polkastarter Event
The whitelisting process is always a point of concern for the community. Here we outline exactly what you need to do to join the event on January 5 at 3pm UTC+8.
It is important to note that we will only whitelist a limited number of applicants:
- Public Pool — 1500 participants
- POLS Pool — 700 participants
In order to whitelist, please submit your information using the following form within the next 24 hours:
Please note that just because you hold $POLS tokens in your account, that does not give you access to the $POLS Holders Pool. $POLS token holders also need to fill out the safelist form above.
We will be taking a snapshot of $POLS holders with 3,000 $POLS tokens on Monday, January 4th and comparing that list to the applicants for this $TEN Safelist to create our POLS Whitelisted pool. We will also evaluate those $POLS token holders who provide Uniswap liquidity.
Other things to look out for are:
- Ensure that the form is properly filled out and each step in the typeform is followed.
- Use a Twitter account with at least 10 followers or is older than December 15, 2020.
- Ensure that the “social media proof” link is submitted from the correct account.
- Don’t forget to follow our socials on Twitter, Telegram chat and Telegram announcement channel!
- January 2 midnight UTC — Whitelisting Portal Opens
- January 3 midnight UTC — Whitelisting Portal Closes
- January 4 — Whitelist is Published
- January 5 7am UTC — Simultaneous IFO/IDO on Pancake/Polkastarter
- January 5 8am UTC — Trading Starts on Pancake Swap and Uniswap
- How do I know if my address is safelisted or not?
To check the status of your application, you will be able to check to see if your address is on a list that we will provide on Monday, January 4th 2021.
- If I am lucky enough to get whitelisted, does that mean I have a $TEN allocation?
No, joining the whitelist does not guarantee an allocation of $TEN tokens. What it means, however, is that you will not have to compete against bots! A safelisted address grants you the opportunity to contribute to the IDO. It is by no means a guarantee of a $TEN allocation. Due to the nature of the smart contracts, the Polkastarter IDO will be on a FCFS (first come first serve) basis, meaning the buying window is open to all whitelisted participants at a set time, Tuesday, January 5th 7 am UTC. The contribution window will close as soon as 300,000 $TEN tokens have been subscribed.
- Why is there a max cap per person? What if 1 ETH per address is not enough?
The max cap feature on Polkastarter allows us to conduct a fair and transparent IDO that provides an even opportunity for every potential ETH contributor. More important to the project, it goes a long way to develop a “long tail” of token holders who are vested in the project at a reasonable price level.
- It shows a really high gas fee on my Metamask when I transact. Why so?
Gas fees are an inevitable requirement of transacting on the Ethereum network. As of today, the Polkastarter DEX allows only ETH transactions. While we are aware that sometimes gas fees are high it is beyond anyone’s control. Gas fees are calculated depending on the traffic at a given time. If the sale has been completed, the Polkastarter platform will show a very high gas fee but this is just indicative, the transaction will not actually go through.