Added utility for the TENFI token will be ensured by using a percentage of the deposits from upcoming YIELDEX index funds.
Boosted Token Ability
TEN Finance has integrated new use cases to their $TENFI tokens to boost their ecosystem and create an extra reward system for their token holders. The new mechanism will simplify the yield farming process to share revenues generated by $TENFI holders.
The new reward system was detailed in a Medium blog by TEN Finance from October 1. TENFI token holders will get added passive income by choosing to stake into one of the new Liquidity Pools (LPs). Ten Finance designed a tiered reward system based on the amount of time vested to efficiently and securely distribute the revenues.
“There will be a limit of 1 TEN Lot per wallet, therefore, those with higher amounts or those that fall in between are required to obtain and split into multiple wallets, this makes it easier to determine “vesting” period per wallet!” confirmed the Medium.
TEN Finance is shaking up its platform with several new innovations. The latest TEN Lots development has been somewhat overshadowed by the announcement of YIELDEX, the first Indexed Yield funds to come to Decentralized Finance (DeFi). The TEN Lots system will reward the long-time token holders as well as newcomers to the platform who want to take advantage of the new innovations.
The TEN Lot Reward System
TEN Finance has developed a reward scheme that generates revenue for its token holders through the YIELDEX deposits. The formula devised is not set in stone, and TEN Finance will be on the lookout for adjustments to maintain fairness.
Token holders will need a specific amount of $TENFI to qualify for a specific reward tier. Users then have the choice to stake for different periods between 90 and 365 days: 2,500 (Bronze), 50,000 (Silver), 250,000 (Gold).
The vesting period will be vital to determining the rewards earned by users. The vesting period is the amount of time that a user stakes their token within a given LP pool. Revenues will be generated through 80% of the YIELDEX deposits, where 1% of that sum will be redistributed. The revenue is distributed through a tiered system as well.
TEN Lots will be scarce and will be distributed in a limited supply over multiple years. Users can accumulate their rewards in either BUSD or BNB tokens. Claims will be free, so there is no extra cost to opt into the system as a token holder.
For more information about the reward system, check out the detailed blog from TEN Finance. There is a big month ahead for TEN Finance, with the launch of YIELDEX looming on the horizon as well.
TEN Finance
TEN Finance is a yield aggregator/optimizer that makes staking and yield farming easy with the most liquid BSC liquidity pools available. The protocol ensures that users are exposed to the most robust yield farming environment on the Decentralized Finance (DeFi) market while providing security, sustainability, longevity, and simplicity. In short, TEN Finance is simplified DeFi.
For those who wish to learn more about Ten Finance, refer to the following socials:
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