Tips for Your Mining, Revenue, Tokens and Tenet’s Roadmap
Dear Tenet community members,
Recently we’ve collected the frequently asked questions from the community about mining, revenue, tokens and Tenet’s roadmap. Below is all the FAQs and their answers.
Q1: Is Tenet ERC20 token?
TEN will be ERC20 first.
Q2: How do I remove liquidity?
You can remove liquidity by withdrawing LP token from the liquidity tap.
Q3: Is there a roadmap?
2020 Q3
- Researching and designing Tenet’s product logic and algorithms library
- Completing product designing and test version R&D of Tenet Version1.0
- Completing gray scale testing of Tenet Version1.0
- Completing Tenet Version1.0 smart contracts auditing and acquiring auditing report
2020 Q4
- Launching official Tenet Version 1.0, which：
supports various platforms, such as Ethereum and Binance Smart Chain;
allows users to exchange LP token on Tenet with one click.
- Launching DREP on Tenet as the first project. DREP Token Holder will have the privilege to mine TEN reward first during the initial launch phase.
- Supporting the first projects to create Liquidity Tap on Tenet
- Starting liquidity mining of TEN token
2021 Q1
- Launching Tenet Version 2.0, which:
will be further optimized in terms of algorithm library and revenue allocation model;
supports more functions to help lock liquidity;
adds governance module;
supports more decentralized AMM platforms;
supports more main chains.
- Listing Tenet Token(TEN) on centralized exchanges
Q4: How does Liquidity Tap work?
The liquidity tap will serve as the infrastructure of the liquidity pool, optimizing mining reward allocation by balancing the liquidity providers’ (mining participants) staking time, share, and frequency in the liquidity pool and LP token pool, and then unlocking their mining rewards linearly. The liquidity tap also simplifies the process of creating liquidity pools from creation to reward distribution and redistribution, saving the cost and effort of developing smart contracts or performing manual distribution across multiple AMM platforms by the liquidity demand side.
Since the liquidity provider receives its mining proceeds from the different liquidity pools through Tenet, which is equivalent to participating in Tenet’s liquidity mining, the process yields at least three benefits: the AMM platform’s commission, the liquidity demand side’s Token incentive, and Tenet’s mining proceeds.
Q5: How is Tenet different from the usual mining platforms?
First, Tenet is not a liquidity mining platform, but an essential layer 2 facility for AMM mechanism.
Tenet aims to build a cross-chain and cross-platform toolkit protocol that allows the demand side to customize the parameters of the liquidity tap, allowing them to reach out to more liquidity participants effectively and with relative ease. For token holders, Tenet is an integrated platform for yield farming. In contrast to most AMM platform’s high knowledge threshold and discreteness, Tenet provides a smarter and more convenient mining platform, and ensures fair allocation of mining rewards through the optimization of the algorithms of initial mining incentives and LP token pools.
Tenet mainly has the following advantages:
1.Liquidity Tap
Liquidity pools lack long term and fair incentives. In the long run, later entrants will find it difficult to compete with first movers and will face the challenge attracting enough liquidity providers. Tenet has therefore optimized the algorithm for incentive rewards to motivate liquidity providers.
Tenet hopes that the new mining model of liquidity tap + liquidity pool will better align the incentives between token holders and liquidity demanders, ultimately striking a balance as the agreement evolves, early liquidity contributors won’t lose benefits because of share dilution.
The liquidity tap will serve as the infrastructure of the liquidity pool, optimizing mining reward allocation by balancing the liquidity providers’ (mining participants) staking time, share, and frequency in the liquidity pool and LP token pool, and then unlocking their mining rewards linearly. The liquidity tap also simplifies the process of creating liquidity pools from creation to reward distribution and redistribution, saving the cost and effort of developing smart contracts or performing manual distribution across multiple AMM platforms by the liquidity demand side.
2.Mixed Revenue Model
Liquidity Providers that obtain their mining revenue on Tenet can earn Ten reward in addition to commission and DeFi protocol native tokens. When a Liquidity Provider deposits its Uniswap V2 Tokens in Tenet and places it in the corresponding liquidity tap, he or she earns revenue after a pre-determined block height. At the same time, the liquidity tap creator puts a certain amount of Ten in Tenet incentive pool, and distributes additional rewards to the liquidity provider through the liquidity tap it creates.
3.The Incentive Loop of TEN
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. Then, LP token can be added to Tenet’s official liquidity tap and start liquidity mining. As a result, a positive loop is formed to encourage mining among liquidity creators, providers and Tenet.
Holders of TEN governance tokens are important members and stake holders of the Tenet protocol ecosystem. As the trading scale of TEN grows up, the value of TEN governance tokens will also increase, which can stabilize the liquidity of Tenet protocol governance tokens.
Q6: Will Tenet launch own DEX?
Tenet is not a DEX, but a cross-chain tollkit protocol serving AMM and liquidity mining. Tenet supports liquidity mining by providing LP tokens, but does not support trading or swapping LP tokens. If you want to trade, you can do that by using the integrated entrance of Tenet to Uniswap.
Q7: Does Tenet have an airdrop or bounty?
Tenet Token has no presale or pre-mine, and no airdrop or bounty. TEN will be distributed fairly from the start. The maximum number of TEN tokens is set at 4,417,400. 3,834,000 TEN will be generated through fair liquidity mining. 20,000 blocks are initial mining incentives and the remaining 2,000,000 blocks are ordinary. Each 40,000 blocks is a cycle, for a total of 50 cycles. 383,400 TEN are used for the long-term strategic development of the Tenet Protocol.
Q8: How to contact email for a business proposal?
Website：www.tenet.farm. Here is our official website.
Email：info@tenet.farm. For any business proposal, please send an email to this address and our team will review and get back to you.
Q9: How to obtain ETH-TEN Uni-V2 LP token?
Detailed user guides will be shared with the community when TEN is officially launched. Please join our official telegram group (https://t.me/TenetFarm ) and follow up.
Q10: Why did I fail to create liquidity tap?
- The initial block height set by you is lower than the current block height.
- The amount of reward token and the amount of LP Token you pre-deposit are higher than the wallet’s balance.
- The closing block height set by you is higher than the closing block height when mining ends.
- On-chain traffic jam.
Q11: Why is my token priced at zero?
- When it comes to token price, at most 8 digits after decimal are displayed. If your token price is too low, it will be priced at zero.
- When there is no trading of your tokens on Uniswap or Sushiswap.
Q12: Why doesn’t my token demonstrate my icon?
On Tenet, the token’s icon is set by the third-party wallet. If you token is not recorded, then a default icon will be displayed.
Q13: In which place or wallet should I keep DREP in order to receive the Tenet token?
You need to follow the above steps: First, deposit DREP on Uniswap and obtain LP token. Then, add LP token in Tenet’s liquidity tap. You can then start mining Tenet.
Q14: When will the airdrop distribute?
The Tenet Team right now does not issue any airdrops. We encourage community members to get Tenet token by mining through our fair launch.
Q15: Where is LP token address?
You can find it in the “Uniswap Contract” section in the details page of the Liquidity Tap.
Q16: How can we get Tenet initial mining bonus?
You can get it by holding DREP and mine in our Liquidity Tap.
Q17: Can you explain how DREP holders will benefit from the new TEN token?
DREP will be the first project to launch on Tenet. DREP token holder will have the privilege to mine TEN reward first during the initial launch phase.
Q18: When can I start farming?
Tenet will be officially launched in November. Meanwhile, you can try the testnet version in test.tenet.farm using the Ropsten network of Ethereum.
Contact us:
Twitter：https://twitter.com/TenetFarm
Medium：https://medium.com/@TenetFarm
Discord：https://discord.gg/AhYgyzA
Telegram：https://t.me/Tenetfarm
Email: info@tenet.farm
