The team at TENFi continues to stress security and safety as it aims to be the simplest and most effective DeFi platform on BNB Chain.
TENFI Adds More Insurance
The InsurAce Protection Dapp listed TEN Finance and its native token, TENFI. The move further confirms TEN Finance’s dedication to building a simple but safe and secure Decentralized Finance (DeFi) experience for its users.
The news of the listing broke through Twitter on May 2, indicating how users of InsurAce could begin purchasing cover for TENFI tokens. The team behind TENFI puts a significant premium on safety, already possessing audits from Certik and Peckshield plus a bounty from ImmuneFi—each reputable protector within the industry. The InsurAce listing gives users of TENFi even more protection and peace of mind when using the tokens and platform.
“Security for TEN Finance is and has always been important and thus aligning ourselves with top tier platforms for this purpose such as InsurAce is key,” Mr. TEN exclusively told BSC News. “While we’re fairly confident in our platform, with multiple audits, you can never have enough protection; thus, giving our TENFI holders the chance for more protection is key, and we’ll be looking for more ways to continue with our collaboration.”
InsurACE continues to grow its protection platform as more in the industry seek its unique protection scheme. The protocol now covers nearly $350 million cumulatively across multiple chains. It also has a total volume locked of $55 million—of which $12 million is on the BNB Chain. InsurACE’s mission to make crypto safer gets more effective as more projects join and integrate with their services.
TEN Finance has several product developments on the horizon, including a LEND and swap feature. With the integration with InsurAce, TEN Finance continues to set itself apart as a leading platform concerning user safety. TEN Finance also announced on April 28 that PeckShield completed an audit regarding its upcoming LEND feature.
“Upon the launch of our LEND by TEN Finance protocol, we’ll also be sure to work with InsurAce to provide for further coverage for LEND token holders,” Mr. TEN added.
TENFI Migration to Biswap
TEN Finance also completed a token migration to Biswap following the recent PancakeSwap V2 updates. As a result, all vaults and pools associated with the CAKE token will be consolidated and moved to Biswap.
The migration was announced on April 27 and detailed via blog by Mische Martinete of Smart Liquidity. New stablecoin LPs will be brought to Biswap in coordination with the partnership, and all TEN Lots rewards must be claimed before the user’s migration.
“We kindly ask that all community members move their LP’s to Biswap, where we will have higher TENFI emissions as an APY booster and also higher emissions for BNB/TENFI auto-compounded farm as well as TENFI/BUSD LP, which will be on course to be converted into a farm on Biswap in the coming weeks,” TENFI stated in Martinete’s blog. “Further news on CAKE single staking pool will be made shortly whether we will keep it or remove it from our vaults!”
TEN Finance and BiSwap are also currently engaged in a significant collaboration boost, with massive APYs rewards for different vaults on the two platforms. platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1519587927063420929&lang=en&origin=https%3A%2F%2Fwww.bsc.news%2Fpost%2Ftenfinance-lists-with-insureace-protection-dapp&sessionId=e08305fc821af556c2d240a288e8c22f90cbd0b1&theme=light&widgetsVersion=c8fe9736dd6fb%3A1649830956492&width=550px
What is Ten Finance:
Ten Finance is a yield aggregator/optimizer that makes staking and yield farming easy with the most liquid BNB Chain liquidity pools available. The protocol ensures that users are exposed to the most robust yield farming environment on the DeFi market while providing security, sustainability, longevity, and simplicity. In short, Ten Finance is simplified decentralized finance.
Where to find more information about Ten Finance:
What is InsurAce:
InsurAce is a top decentralized multi-chain insurance protocol that provides reliable, robust, and secure insurance services, ensuring that users’ investment funds are secured against various risks. Since its launch in April 2021, the protocol has experienced significant growth across the DeFi space.
Now, users can enjoy unbeatable low cover premiums, cross-chain coverage, multi-chain accessibility, and sustainable investment opportunities with InsurAce. The protocol currently offers insurance services to over 50 projects, four Centralized exchanges (CEXes), and 1 IDO platform. It also supports numerous blockchains like Ethereum, BNB Chain (BSC), Solana, Fantom, Terra, Thorchain, Heco, and Polygon.
What is Biswap:
Biswap is the first decentralized exchange platform on the market with a three-type referral system and the lowest platform transaction fees (0.1%). It is a decentralized exchange platform for swapping BEP-20 tokens on BNB Chain. Biswap has a popular utility token, BSW, with a vast user base that supports the Biswap ecosystem. Apart from being able to trade BSW tokens, you can also use a wide variety of additional benefits that come with it. Biswap aims to become a benchmark for DEX platforms.
Where to find Biswap:
Source BSC News
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.