The First L1 blockchain for LSDs: Tenet Protocol
$125 Billion is the estimated TVL of the LSD market by 2025, and Tenet Protocol is trying to capitalise on it.
What is Tenet?
Tenet is a Layer-1 chain that uses LSDs as collateral for network validators through diversified proof of stake.
It is EVM compatible and built on top of the Cosmos ecosystem. Staking providers active on the Tenet network can issue a tLSD.
Tenet employs veTokenomics at the chain level to direct emissions from block rewards and other dAPP user incentives.
LSDC is the native stablecoin on Tenet blockchain and is minted against overcollateralized positions of tLSDs
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Diversified POS
Diversified Proof of Stake allows network consensus to be reached by validators that stake a basket of assets.
This removes the risk of the network being owned by a large controller of a single asset. The assets include: ETH, ATOM, BNB, MATIC, ADA, and DOT.
The Tenet basket of validation assets uses Proof of Stake assets.
Tenet accepts LSDs such as those minted via protocols like Lido and RocketPool or even institutions like Binance and Coinbase.
LSDs like stETH and cbETH can be used to participate in Tenet validation.
LSDC
LSDC is the native stablecoin of the Tenet blockchain and is minted against overcollateralized positions of tLSDs.
At any time, it can be redeemed against the underlying collateral at face value. Users can earn by depositing LSDC in to the Stability Pool.
TENET
Token $TENET is the native token of TENET.
It is used at the base layer of the blockchain to pay for transaction execution as gas token. You need TENET to use the TENET blockchain.
tTENET
When you stake TENET with a TENET Staking Provider, you will receive an LSD of TENET called tTENET.
tTenet needs to be staked with the corresponding Staking Provider to receive Validation rewards from securing the blockchain.
TENET's veTokenomics
tTENET can be locked to produce veTENET. veTENET makes you eligible for a number of benefits and gives you voting power over governance and reward gauges.
The longer you lock tTENET for veTENET, the more veTENET you receive.
Tenet Stablecoin Protocol
The Tenet Stablecoin Protocol uses the Liquity model, whichallows you to draw interest free loans against yield-bearing collateral assets.
Loans are drawn in LSDC (a USD pegged stablecoin) and need to maintain a minimum collateral ratio.
EVA
Eva is multi-chain, non-custodial wallet designed by TENET.
Eva empowers retail investors with simple yield optimisation strategies that are executable without leaving the wallet.
LSD Pad
LSD Pad is the industry's first launchpad built for LSD focused projects. Airdrop has been confirmed by the team for $TENET stakers.
LSD Pad features the following type of projects:
✦ LSDFi
✦ LSD-derived gaming
✦ LSD-incentive products
Where to buy $TENET ?
$TENET has been listed on some major exchanges like Huobi, Bitfinex, Bybit, MEXC, Gate, Bitmart, etc.