Cryptocurrency is known to be the most volatile trading market. Whether holding or trading actively, it is not uncommon to see a massive reduction in the portfolio’s worth, and most times, these situations can not be predicted or avoided.
Lately, there has been an increase in the number of projects focused on helping both Hodlers and traders maximize their profit without exposure to high levels of risk.
One of the projects making impacts in this area is Teneo.
What is Teneo?
Teneo is a crypto project that helps hodlers make profits on their tokens. However, Teneo goes beyond serving only HODlers to providing a winning situation for different categories of users. For instance, HODlers earn through redistributed transactions fees; traders get arbitrage opportunities from market volatility and projects to enjoy staking opportunities without the need to fund the staking.
In addition, Teneo HODlers enjoy rewards from all Teneo staking pools while retaining owned tokens in their wallets.
How does Teneo work
The Teneo project has two token types. They are:
- The reward token called Teneo Token
- Different tenXXX token. The XXX can represent any cryptocurrency. For example, it can be tenBNB, tenETH, tenWBTC, tenBUSD etc. It is important to note that each tenXXX is pegged to the corresponding cryptocurrency.
Let's start with tenXXX: A tenXXX, like WBTC, is a pegged token. In this case, we'll use ETH: When someone locks an ETH, an Automated Market Maker (AMM) mints a tenETH token, and when someone unlocks an ETH, a tenETH token is burned.
As a result, the ETH:tenETH conversion rate is around 1:1 at all times.
Because of transaction fees, it's just "almost" 1:1. These fees support the entire system. They're mostly used to buy back Teneo and redistributed to the tenXXX token's liquidity provider. But any other transaction fee will likewise be dispersed to every holder of the tenXXX token in the form of a tenXXX token. They're known as reflows.
But why should anyone use the Teneo token with a transaction fee? Isn't it simpler to simply lock and hold until they are ready to cash out?
The Teneo token offers a 1:1 ratio. A total of tenXXX liquidity pools have been awarded (and also gain reflows). That is, any price movement of the pegged token in any pool has the potential for arbitrage. Furthermore, unlike other similar tokens, there is no mechanism for draining money from the system because the token is tied to the dollar (1 tenETH is always worth 1 ETH minus the transaction fee).
Where they’ve been and future projections
Teneo has been rapidly growing with consistent progress and hitting the project timeline. In less than a year, Teneo has finished and thoroughly tested the project’s contract, undergone auditing by top auditing firms like Certik and Zokyo. In addition, Teneo has bagged top partnerships; notable mentions are DuckDAO, Ferrum, and Zokyo.
In the next 12 months, Teneo seeks to support more token options, secure cross-chain access, and power NFTs. The project is set to launch on the 2nd of February, 2022 and have several launchpad designed to benefit early investors.
In the volatile ecosystem of cryptocurrency, Teneo is definitely one project to watch out for.
For more information on Teneo, Visit:
YouTube: https://youtu.be/GtYA2BV_RtQ
Website: https://teneo.finance
Litepaper: https://teneo.finance/litepaper.pdf
Twitter: https://twitter.com/TeneoFinance
Telegram: https://t.me/TeneoFinance
Pitch Deck: https://teneo.finance/pitchdeck.pdf
Medium: https://medium.com/@teneofinance
Company details
-
OrganizationTeneo
-
Website:
Disclaimer: This is sponsored content. The information on this page is not endorsed or supported by U.Today, and U.Today is not responsible or liable for any inaccuracies, poor quality, advertising, products or other materials found within the publication. Readers should do their own research before taking any actions related to the company. U.Today is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.
