TEN X TEN LOTS
The last few months, the talk and buzz at TEN Finance has been all about the YIELDEX!
The YIELDEX is something that is innovative and will define simplicity for Yield Farming in the DeFi space.
The TEN Lots, however, may well end up being the star of the show that takes the TENFI ecosystem to the next level for all TENFI holders and perhaps be a guide to many other projects in the world of DeFi.
Why TEN Lots? What is the purpose?
Well, this is quite simple, it is to give TENFI an actual use case and remove that temptation to “dump” our token because, well, there’s nothing else to do other than speculate!?
I bet not too many project founders will say that outright!
Let me tell you, THIS right here, is the ULTIMATE problem most projects face, a reason to keep the native token of a yield farm or yield optimizer.
Fact is that if you check debank.com and look at the “whale” wallets of nearly ALL projects, I can safely say that out of the top 50% of the TVL for most projects a fraction of these wallets actually farm and hold the native token of that farm/optimizer. We can ask any of our beloved competitors in the space and this is the case with all of them, FARM and DUMP of the native tokens!
A new farm comes out with some super high APR’s, everyone flocks to the farm, and farms the natives, then dumps the natives, and rinse repeat for the next farm that comes out. This is the lifecycle of most new projects on any chain available right now and thus, most projects don’t last for more than a few weeks to few months because it is just economically unsustainable for these projects to continue to survive!
And for most of the existing bigger projects that are mainstays, going cross chain becomes the solution as a natural path of expansion, but still keeping to the old business “model”, in a little over 1 year of DeFi, nothing much has changed.
This is the nature of the game because it is simply how things have been done thus far and we can’t blame anyone for doing so, all the power to them and it is up to us, as projects/platforms to provide something of USE to our users and to ensure that our “farmers” are here to farm and then nurture their farmed native tokens rather than selling them off after every harvest!
Therefore, at TEN Finance, we are taking the steps to offer our users the ease of simplicity to participate in yield farming with the YIELDEX and thus sharing these revenues generated with our TENFI holders by offering them TEN Lots!
So then what are TEN Lots?
TEN Lots are another way to earn additional passive income through simply staking your TENFI tokens!
Wait!? Don’t we already get TENFI tokens as a “reward” for using the vaults on TEN.finance? Yes, but now you get to EARN more by simply having your TENFI in one of our LP’s or single TENFI staking, by claiming TEN Lots!
NOTE: TENFI holders providing LP to any of our LP’s will be rewarded with 2X the TENFI they hold as it will account for the total value of the LP provided they are providing both TENFI and BUSD and/or WBNB.
Now, I am quite sure that we’ll have much feedback from our beloved community on how to improve this, and we will definitely continue to improve, but we’ve done the math and this makes the most sense!
We will have three different Tiers of TEN Lots!
- Tier 1–2,500 TENFI (Bronze)
- Tier 2–50,000 TENFI (Silver)
- Tier 3–250,000 TENFI (Gold)
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!
Vesting! Wait, what is vesting?
In this context of the TEN Lots, vesting of the TEN Lots gives TENFI holders the rights to YIELDEX revenue generated over a period of time. This gives TENFI holders an incentive to hold their tokens beyond the TENFI rewards and APR generated by our vaults! The vesting schedule setup by the TEN Finance team will determine the percentage of TEN Lots you can withdraw at any given time until being fully vested. Note that every time you withdraw from your TEN Lots, your vesting period starts from 0 again.
The vesting period for the TEN Lots will ensure a long-term future both for those that are holding TENFI tokens and also for TEN Finance to continue to evolve but more importantly continue to innovate!
The vesting period is shown below.
A basic example would be like this…
NOTE: This is hypothetical, made up numbers, DO NOT use the example below as a basis for anything, I literally just made it up!
I have 50,000 TENFI staked in BNB/TENFI LP and have a TEN Lots position which after 30 days of the YIELDEX launching has provided me with $1000 of BUSD just for having TENFI LP!
The vesting period is only 30 days in and if I wanted to withdraw my TEN Lots share rewards, then I would only receive $250 and thus restarting my vesting period from 0 and also forfeiting the remaining balance.
See below for further clarity.
Now that we have the basics of the TEN Lots out of the way, let’s get to how we generate this revenue for our TENFI holders to benefit from the TEN Lots!
The YIELDEX vaults will generate a deposit fee of 1% which is then shared with those holding TEN Lots.
The TEN Lots are scarce and in limited supply and thus over the span of the next 5 years, the time it will take for TENFI supply to be at maximum supply, only about 78.125% of TENFI in circulation will be able to claim a TEN Lots positions for additional passive income that the YIELDEX will provide for TENFI holders.
The total amount of TEN Lots available per Tier is below.
- Bronze — 30,000 (75,000,000 Lifetime Maximum)
- Silver — 1,500 (75,000,000 Lifetime Maximum)
- Gold — 200 (50,000,000 Lifetime Maximum)
From these tiers, they are then broken down further with regards to the percentage of the revenue that each tier will get to be split between the TEN Lots holders.
- Bronze —30%
- Silver — 40%
- Gold —30%
From here then, each TEN Lot claiming at each tier, evenly shares in the rewards distributed into the different tiers based on the number of holders of each Tier.
If the Gold Tier has 20 TEN Lots holders then the rewards in the Gold Tier get distributed evenly between those 20 TEN Lots holders and so forth.
Thus if Bronze Tier has 240, then the rewards are evenly distributed to those 240 TEN Lots holders.
Collectively, the total number of TENFI that can ever be claiming TEN Lots at its maximum capacity at maximum supply is only 200,000,000 of the 256,000,000 maximum TENFI allowed by our emissions.
A basic example would be here…
NOTE: This is purely hypothetical and should not be taken as financial advice or results that are guaranteed or real.
Total Hypothetical Revenue for TEN Lots holders — $1,000,000 in first 30 days
TEN Lots holders/claims based on current circulating TENFI of roughly 26.5 Million and pure speculation of division of TENFI wallets.
- Bronze — $300,000 (3,000 TEN Lots = 7,500,000) $100 per TEN Lot
- Silver — $400,000 (100 TEN Lots = 5,000,000) $4,000 per TEN Lot
- Gold — $300,000 (20 TEN Lots = 5,000,000) $15,000 per TEN Lot
The above is a simple, yet basic example of how the TEN Lots can be divvied up after initial launch of the YIELDEX and hypothetical revenue generated by YIELDEX to be distributed amongst TEN Lots holders.
Obviously, these numbers may be larger or smaller and will vary on many different possible outcomes, but this gives a general idea as to how the TEN Lots will reward TENFI holders in addition to auto-compounded vaults and TENFI rewards being paid out daily.
Over the coming days, months and even years, there will be changes to make this a perfect formula, but for now, we feel that it is the best way to fairly represent and allow for the majority of the TENFI community to benefit from being a TENFI holder in addition to everything else.
The graphic below explains the ease of the process and the TLDR just below it!
Below is the TLDR!
- TENFI required for a TEN Lot: 2,500 (Bronze), 50,000 (Silver), 250,000 (Gold) (3 tiers, 1 TEN Lot per wallet limit)
- Maximum TEN Lots available: 30,000 (Bronze), 1,500 (Silver), 200 (Gold)
- 1 TEN Lot per wallet
- Maximum amount of TENFI in TEN Lots: 200,000,000 TENFI
- Maximum share of TENFI claiming TEN Lots: 78.125% (this is based off 256,000,000 maximum lifetime supply)
- TEN Lots revenue source: 80% of YIELDEX Deposit Fee
- TEN Lots rewards size: 1% deposit fee into YIELDEX
- TEN Lots rewards are accumulated and distributed in: BUSD or BNB at user discretion
- TEN Lots distribution: Tier based (TENFI holdings) and revenue % based on vesting period (table above) Bronze 30%, Silver 40%, Gold 30%
- TEN Lots can be claimed for FREE as long as you have TENFI, either in single pool TENFI pool or LP
We are now getting closer and closer to our launch date of the YIELDEX with the TEN Lots accompanying it, in what will be the first step to creating a self sustaining ecosystem of functionality for our native token, TENFI!
Any questions, suggestions, you all know where to find me!
Cheers and thank you all for the continued support and we look forward to continuing this journey on this long and beautiful path we’re about to embark on, simplicity in DeFi and TENFI will be synonymous going forward.
Regards,
Mr TEN!
