TEN X YIELDEX
The wait is over!
YIELDEX is coming, 10/10/21!
It seems not so long ago we came up with the concept and term YIELDEX, something simple and yet straight to the point. I, Mr. TEN, was frustrated at the tedious process of Yield Farming!
Before I get into the details of how the YIELDEX works and what it does, let’s get the backstory first of my struggles which led to this idea, only because I like efficiency and simplicity. This is how we will plan to make progress in DeFi space to mass adoption.
So once upon a time, I wanted to invest in multiple LP’s to start my yield farming adventures, so I did. Then I wanted to invest into different assets/LP pairs, so I did that as well. Then this number grew and the process of hoping from one LP to another became ridiculously exhausting and annoying to the point where I just didn’t even bother un-pairing my LPs. So I thought to myself if only this process could be easier for me to diversify my Impermanent Loss risk and for me to get in and out of these LP’s in a click or two. Unfortunately the current norm is spending an average of 3–5 minutes, sometimes longer depending on BSC congestion and platform speeds to get out of an LP. And this is where the adventure, or dare I say the sleepless nights began to conceptualize and bring #YIELDEX to realization.
Now, with our new YIELDEX you can pair and un-pair 5, 10 and even 20 LP’s all at once, with a simple click!
We took the words Yield, which we’re referencing the Yield Farming and Index, which is a selection of constituents that will provide for the respective liquidity pools for the farming of yield, thus, the YIELDEX was born! (Yield + Index = YIELDEX)
While this idea is not revolutionary by any means, it is something that nobody is doing or has done and thus TEN Finance is the first in all of DeFi to offer this to our current users and to the entire DeFi space. Soon, everyone else will follow suit with their own versions of the “YIELDEX”, this is a fact, but we’re the first!
So how do we simplify this process? How do we make it so that the millions upon millions that have yet to dabble into Defi and in particular Yield Farming make the seamless transition from the usual CEX crypto trading onto DeFi? And trust me, there are MANY, even our personal friends who have been in crypto (can consider them veterans) but don’t dare to mess with DeFi because of the “complexity” of it, and I for one was one of them early on in the Sushiswap/Uniswap days!
The answer is simple, YIELDEX!
With the YIELDEX, users are able to invest into multiple LP’s, with each YIELDEX having its subset of “type” of LP’s as constituents such as stablecoins, premium coins/tokens (BTC, BNB, ETH etc) and high yielding assets with only BUSD or BNB being present in their wallet. There is no longer the need to go to each AMM, buy each individual asset, then pair the LP, then go to the farm or optimizer and deposit, NOPE! None of that is necessary with the YIELDEX…let me explain the user process…
1. User goes to app.ten.finance and connects wallet if not yet connected.
2. User chooses which YIELDEX to invest into (stables, premium or high yielding)
3. User approves BUSD (no need to approve BNB if depositing with BNB) on ten.finance (this is first time only, skip this step for consequent visits/deposits)
4. User chooses amount to invest into YIELDEX of choice
5. Done!
Congratulations! You just invested, with ONE click, into multiple LP’s and it took less than a minute and majority of that minute was spent on how much you should invest!
You want to remove your YIELDEX deposit? It’s just as easy!
1. User goes to app.ten.finance and connects wallet if not yet connected.
2. User chooses which YIELDEX LP to withdraw from.
3. User chooses amount to withdraw from YIELDEX of choice.
4. Done!
So while this seems easy, basic, simple and “yeah anyone could’ve done it”, fact remains that nobody has done it and in reality within this 2 step process, we must remember that behind the scenes, we are, with your BUSD or BNB, buying each individual asset, then pairing the LP and depositing into each farm! There can be 60–100+ instances in this transaction.
We will first launch with 3 sets of YIELDEX vaults based off of PancakeSwap LP’s initially and quickly add Biswap as well as ApeSwap versions of the YIELDEX with LP constituents from each respective AMM.
Below are what the templates will be based off of, these numbers and constituents may change at launch and should not be taken as a final dashboard of the upcoming YIELDEX.
NOTE: The HLP-C (High Yield LP) version is yet to be finalized in terms of constituents as the multipliers are changing and may change again prior to launch. Also the TENFI APR’s may be adjusted in the future to meet demand of each YIELDEX constituent and so forth.
YIELDEX — STABLE COINS — SLP-C
YIELDEX — PREMIUM COINS — PLP-C
If the image above looks like what an index should, it technically is, but we’re not reliant on the individual price movements of the price of each token inside the YIELDEX, but we’re simply farming multiple LP’s simultaneously with the ease of a couple clicks. The YIELDEX removes the hassle of purchasing and pairing of the LP for each token constituent of the YIELDEX.
Over the last several months, we’ve had several other projects that have come out with Index style investing, similar to traditional finance index/ETF products, into tokens via the Balancer protocol, but the YIELDEX is something we’ve written from the ground up for TEN Finance, a first of its kind for all of DeFi to utilize and enjoy upon launch.
So let me explain the basics and hopefully this can be as elementary as possible, I will do my best in explaining in simplistic terms…
The concept of the YIELDEX is to allow our users to easily invest in multiple LP’s with the simplest of procedures as possible. The YIELDEX is distinguished by the preference of the user as to which Yield Farm they want to invest in from stablecoins, to premium LP’s to higher yielding blue chip farms! The constituents of the YIELDEX will change from time to time if the AMM were to reduce the multiplier and/or the farm itself stopped producing the yields expected of them. In the future, we will allow for the community to vote on the constituents of each YIELDEX.
The users just have to choose the YIELDEX they want to invest in and with only having BUSD or BNB in their wallet, the TEN Finance platform does the rest!
The interesting mechanism that adds further benefit to TENFI holders in particular is that each YIELDEX contains a TENFI LP, either TENFI/BUSD or BNB/TENFI! Thus creating natural demand for our native token TENFI, which will further strengthen the TENFI ecosystem and create further stability in providing for deeper liquidity for TENFI.
And that is literally how simple the YIELDEX is, a Yield Farming Index that invests in multiple LP’s with ONE click with only BUSD or BNB in your wallet, nothing more nothing less. The withdrawal process is just as easy, either get your BUSD or BNB back or take out your individual LP’s.
The YIELDEX will also earn you the respective TENFI rewards based on the LP’s in each YIELDEX.
Users are able to invest in a diversified set of auto-compounding LP’s, earn yield and additional TENFI rewards with the opportunity to then take those TENFI rewards and either hold in their wallet or stake in our upcoming auto-compounding TENFI vault and also claim a TEN Lot position!
It’s literally a win-win-win situation for our TENizens.
The YIELDEX will have a 1% Deposit fee (paid in BUSD or BNB) and NO withdrawal fee and this is where the mysterious TEN Lots come into play.
The deposit fee from the YIELDEX will be split 80/20, 80% of all YIELDEX revenue from the deposit fees goes to TEN Lots holders and the remaining 20% to TEN Finance.
The 80% will then be split into the three tiers of TEN Lots that we will have for TENFI holders, those that hold TENFI in their wallet, single token staking pool, TENFI/BUSD or BNB/TENFI pools will qualify to claim a TEN Lot based on their holdings.
The TEN Lots will then evenly distribute the YIELDEX revenue to the holders of each individual TEN Lots holder.
And THAT, ladies and gentlemen, is how the TENFI ecosystem will grow and evolve the DeFi space.
For more on the TEN Lots…stay tuned as we will post a separate medium to specify the details in the next day or two, so get your TENFI stacks ready for some TEN Lots!
Regards,
Mr TEN!
