Tenet: A new public blockchain designed specifically for LSD.

With the rise of LSD narrative, LSD race innovation mechanisms are also emerging, such as frxETH V2 and Pendle. However, today we introduce a new LSD protocol, also designed for LSD, the Layer 1 blockchain - Tenet Protocol.

Tenet Protocol is a Layer 1 blockchain-level protocol based on Cosmos and compatible with EVM. It uses LayerZero cross-bridge LSD assets to bring LSD to the chain level. Next, let's briefly introduce the unique features of this project.

Tenet Features

Tenet has two main features. First, it has an innovative consensus mechanism called Diversified Proof of Stake (PoS). In short, Tenet is a PoS blockchain that innovatively allows not only its native token TENET to maintain network security, but also allows the Omni-Chain tLSD token to protect the network. This allows assets on one chain to be pledged to another chain, rather than relying on a single token to maintain network security, thereby establishing a mutually beneficial economic relationship and increasing network security. Omni-Chain is also considered a mainstream trend in the future of the cryptocurrency industry by many.

The second is the launch of its own decentralized stablecoin LSDC (LSDC stands for Liquid Staking Dollar), supported by LSD-type tokens, currently including: ETH, BNB, ADA, ATOM, and will continue to increase in the future. Users can use excess collateral to mint stablecoins with LSD as a decentralized stablecoin, with fully transparent reserve proof that can be viewed on the chain.

Users can use their own LSD assets to borrow LSDC at zero interest and earn additional income from the Tenet DeFi Dapp; add LSDC to the stable pool and receive rewards from liquidation or Native Gauge voting. Currently, LSDC can be minted for various LSD assets such as stETH, rETH, ankrBNB, etc.

In addition, Tenet Protocol also launched its own wallet Eva at the end of May. Eva was designed with retail investors in mind and is a keyless wallet designed for people with zero knowledge of encryption. It can also command the wallet to perform on-chain operations through AI instructions. In addition, Eva also provides On/off-ramp fiat and wallet staking, similar to the previous Sui wallet. Official download link (https://tenet.org/eva).

Tenet token

The native token of Tenet is TENET, which also serves as the gas payment for transactions on the foundational layer of the Tenet chain.

In addition, when users pledge TENET, they will receive a TENET LSD called tTENET. The token model of TENET comes from veTokenomics, and users can lock tTENET to generate veTENET. veTENET represents the TENET held in voting custody, which means that the longer tTENET is locked, the more veTENET will be received. Similar to the traditional veToken model, veTENET can vote on protocol governance and reward standards. The minimum and maximum time for locking tTENET as veTENET is one week and one year, respectively. The following are the standards for locking tokens to obtain veTENET:

持有 veTENET 可以获得来自各种层面的奖励：

Holding veTENET can earn rewards from various levels:

TENET Validator

TENET Stablecoin Protocol

TENET Money Market

TENET DEX

Tenet's Stablecoin Lending

Tenet Stablecoin Protocol provides zero-interest loans and has higher capital efficiency compared to other lending systems (i.e. less collateral required for the same loan amount). It also allows users to collateralize assets that have already generated profits by participating in Tenet node validation. Users can lock LSD using this protocol, borrow LSDC, and then repay the loan on the due date instead of selling the collateral assets to obtain liquidity.

Tenet's advantage is that users can perform nested operations, using yield-bearing collateral as loans and exchanging LSDC for more yield-bearing collateral to obtain more funds and deposit them into CLIP for leverage. This allows users to obtain additional liquidity from assets that they wish to hold long-term and earn profits by continuing to hold onto those assets.

CLIP represents the Collateralized Liquid Interest Position, which is similar to Vaults or CDPs. Each CLIP is bound to a Tenet address, and each address can only have one CLIP for each type of collateral.

CLIP includes: collateral assets and debt denominated in LSDC. Users can change the CLIP amount at any time by adding collateral or repaying debt, which will result in a change in the CLIP collateralization ratio.

Tenet team and partners

The Tenet team consists of senior talents in the DeFi and AI fields, including core team members or contributors from companies such as Ankr, Lido, Blockdaemon, and even Open AI. They are:

-CEO Greg Gopman - former Ankr CMO

-CPO Alex Cheng - Former product manager at Tendermint and Composable Finance.

-CTO Dan Lashin - Former Minter CTO, developed Cosmos DEX and wallet.

-BD and DeFi Partner - Co-founder of Owl Ventures

Currently, its partners have announced Ankr and LayerZero, and other partners will be announced in the future.

Tenet introduces LSD Pad and its interaction

As mentioned earlier, LSD narrative is currently in a hot phase and may become the mainstream of the next bull market. Recently, Tenet has launched the LSD Pad, the industry's first launchpad specifically designed for LSD-focused projects. Built on the Tenet platform, LSD Pad aims to launch key projects related to LSD on the Tenet chain and has received support from the Tenet Foundation. This launchpad supports LSD DeFi, LSD Game, and LSD incentive products.

LSD Pad is the first launchpad specifically designed for LSD-focused projects. Backed by Tenet, the Tenet community naturally has the opportunity to experience LSD ecosystem projects on Tenet and other chains ahead of time. The native token of LSD Pad is LSDP, and the operation of LSD Pad is similar to that of other launchpads.

- Pledge LSDP

- Participate in IDO

-Purchase and confirm IDO allocation.

Basically, the more you invest, the more shares you will receive. To celebrate the launch of LSD Pad, the Tenet team is conducting a Fairdrop, with a total supply of 20% of LSDP, which will be airdropped to:

-Pledgers in Tenet Mainnet

-LSD pledgers (including LSD from Ankr, Stader, and Lido)

However, the snapshot time and specific airdrop details have not been announced yet. Users can still stake and interact on LSD Pad. The steps are simple and as follows:

- Enter the pledge official website.

-Acquire TENET, which can currently be purchased through the following four trading platforms or through Uniswap, and then bridge TENET from other networks to the TENET mainnet through Multichain .

-Enter the amount and click "Stake" to stake (currently participating in token staking lottery to obtain NFT raffles, which can be stored in Eva wallet for "Trade2Earn" in the future).

Conclusion

Tenet integrates LSDfi, L1 blockchain, Omni-Chain, native wallet, Fiat on-ramp, native token, native stablecoin, and AI into one. Currently, the LSD track is hot, and it is not difficult for Tenet to become the next LSD giant. However, the disadvantage of Tenet is its over-reliance on LSD. If the LSD narrative disappears, Tenet will also disappear.

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