The new features necessitated an overhaul that included both their platform UI and fee structure.
In the Near Future
Ten Finance is set to revamp its website in anticipation of the new Yield Optimizer release scheduled for release later in the month. The move comes with a roadmap for the project that promises a handful of exciting developments for users of the platform.
A Revamped Website – TEN X New Look
Before the release of the new product, the team announced a rework of the current platform. According to their Medium, the new website has more features, more enthusiasm, and flat-out more to offer, according to the team. The sneak-peek at the new features has been released, showing a more advanced Ten Finance platform than we have seen before.
The team has revealed that they worked with users’ requests, building the revamped platform with the perspective of the users to create a more elaborate user-friendly platform. The platform will give choices of either a light or dark mode, which is one of the most highly-requested features on platforms. The UI looks a bit more sophisticated than the earlier version; however, the inner workings are a lot more simplified and tailored for users’ needs.
The team has also decided to accompany the new website with revamped fees, owing to the reduced selling pressure thanks to recent FUD on the Binance Smart Chain.
The team has come out with the following fee structure:
Gas Fee: 0.3%
Network Fee: 0.5%
Burn Fee: 1.5% ($TENFI pools) 3.00% (Non-$TENFI pools)
Deposit Fee: 0.1% (one-time on initial staked amount)
Withdrawal Fee: 0.00%
Further breakdown of the fee structure is detailed on their Gitbook. As stated by the team, the burns will happen at a slightly higher rate to reduce the supply quicker, serving as a deflationary measure.
Yield Optimizer Release
The scheduled release of the Yield Optimizer is part of the planned super yield index (Yieldex) already in the roadmap. The core of the TEN X platform is the creation of an exclusively high/super yield/APR for its users, including the introduction and creation of products with varying levels of risks associated.
The pools will distinguish the “members” (IE assets/coins in the pool), and will launch according to the following classes:
Super Yieldex will have the highest quality (BTC, BNB, etc.) and the liquidity available.
Blue Chip Yieldex will provide the highest APY available in the entire DeFi space, automatically source and advise.
Stablecoin YieldEx will provide for low-risk, high APY returns.
All of these assets are geared towards attracting more users and increasing the usage of the platform, but the variety of risk offered will allow users to choose how they want to invest.
About Ten Finance
Token Enrichment Network (TEN) Finance is a simplified yield aggregator and optimizer platform built on the Binance Smart Chain (BSC) Network. The platform simplifies staking and yield farming with the most Liquidity Pools available. It provides a robust yield earning environment on the market while adhering to security, sustainability, longevity, and simplicity.
The launch of the revamped simplified and sophisticated website and the Yield Optimizer platform will further add an extra layer of utility to the platform and its users.
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.