In this era of technological revolution, here comes yet another game-changer – Tenset(10SET)!
Tenset(10SET) is an aggressively deflationary token that is built on the Ethereum blockchain.
This project was launched early 2021 and works on the concept of the Smart Staking system.
I know you are already wondering what the heck ‘deflationary token’ and ‘Smart Staking System’ means.
I gave a detailed explanation of them and the other things you ought to know about the Tenset project in subsequent subheadings.
Tag along as we sail? into the world of Tenset.
Tenset Post Summary
In this part, I listed the various subheadings under which Tenset will be discussed.
- Tenset Project Overview
- Phases of the Tenset Project: What It Aims To Achieve
- Tenset Tokenomics
- 10SET and Its Distinct Features
- Frequently Asked Questions About Tenset
The links to the full details of each subheading is embedded in it.
Let’s get to discussing the subheadings at once.
Tenset Project Overview
Tenset is an ETF 2.0 project that is built on the Ethereum blockchain.
ETF (Exchange Traded Funds) is a type of fund that contains assets such as stocks, gold, etc. It then divides the ownership of these assets into smaller shares.
It is just like buying a share of a huge asset. The asset can be crypto-based or just assets in the stock market.
If you are new to the concept of ETF, I will advise you to check out this post on ETF to further understand its concept.
So Tenset being an ‘ETF 2.0’ project means that it offers you the opportunity to buy ETF from both the crypto and the stock market.
Exactly what it means when it is described as the bridge between crypto and the stock market!
More like offering you the best of both worlds!
From the information on whois.com, it was registered on 7th January 2021 and is located in Poland.
The project’s plan is to bring conventional asset investment into the cryptocurrency space.
The move is really apt at this time considering the number of public institutions that are wading into the crypto-verse.
The project’s plans are outlined in 3 parts – Phase 1, 2, and 3.
Let’s look at what it aims to achieve in each stage in the next subheading.
Phases of the Tenset Project: What It Aims To Achieve
The phases are as follows:
- Phase 1 – Construction and Launch of the Tenset Network
- Phase 2 – Selection of Crypto Assets and Community Voting
- Phase 3 – Bridging with the Stock Market
I gave details of each phase below.
Phase 1 – Construction and Launch of the Tenset Network
So far, the Tenset Network has been constructed and launched since January 2021.
It has also gone ahead to create its token(more details on this in a later subheading) which has been listed on Uniswap.
The token created is deflationary i.e the supply decreases over time.
The team achieves this with the process of coin burning; just as is used for Binance Coin (BNB).
The burning mechanism is encoded directly into the smart contract.
The smart contract is programmed to stop the burning process when the total supply of the coins reach 2,100,000.
In other words, the coin burning stops when 1% of the total supply (210,000,000) is burned.
At this point, the Tenset network will implement other mechanisms to ensure passive income for its users.
Phase 2 – Selection of Crypto Assets and Community Voting
Selection of Assets
At this point, funds gotten from the sales will be used to buy a number of selected cryptos to generate passive income.
This will be done via staking and other means.
The criteria for selecting any crypto will be its stability and profit generation potentials.
The profits gotten from staking will be used to fund the Tenset Network.
Again, 30% of the network’s profit will be used to buy back Tenset tokens from exchanges to be burnt.
This will cause another deflationary effect.
It also plans to involve its users in its decision making process by granting them voting rights.
They can vote for or against a proposed idea.
How the right of voting will be conferred on users has not been specified but it will surely be one that is fair to all.
It will either be that one vote is allocated to one user or it can be according to the number of Tenset tokens they hodl.
Let’s go ahead and see the plans in place for Phase 3.
Phase 3 – Bridging with the Stock Market
Here, the Tenet network aims to create:
- passive income streams from assets like cryptocurrencies and
- dividend shares from established companies
For this, the network is developing the know-how to buy shares from conventional exchanges and automate the dividends payout.
A greater percentage of this will be done using the blockchain technology.
The assets selected will be ones that are going to generate long-term profits and will be kept in the care of financial experts.
In adverse market conditions, the management team sits down together to find a way to manage its portfolio.
But in a prevailing bearish market, the network will buy back Tenset tokens from exchanges quarterly.
This is to further stimulate the Tenset token economy.
Here you have the breakdown of the network’s proposed activity for each phase.
You will get more details on this here.
Before we get to looking at the Tenset token, let’s have a look at its Tokenomics.
Scroll down, please.
Tokenomics (simply Token Economics) gives you all the needed information about a token.
For Tenset, find its token details below:
- Token Name – Tenset
- Token Ticker – 10SET
- Token Standard – ERC20
- Token Blockchain – Ethereum Blockchain
- Total Supply – 210, 000, 000
- Smart Contract Number – 0x7FF4169a6B5122b664c51c95727d87750eC07c84
- Burnt Token (8th April 2021) – 5,750,265 10SET
- Gas price (8th April 2021) – 99 Gwei
- Total Target from Public Sales – 15,050 ETH
- Presales Information – See table below.
|Parameters||Phase A||Phase B||Phase C|
|Activity||Presale Poland||Presale Global||Global sale and IEOs|
|Bonus||10%||5%||0% (regular prices)|
|Hard Cap||1,000 ETH||5,000 ETH||Remaining balance |
from sales phases
|0.1 ETH/40 ETH||0.1 ETH/100 ETH||–|
can be made
can be made
|To be announced/ |
Depends on the
|From exchanges |
- Listing on exchanges:
- Uniswap – Done (31/03/2021)
- Other DEX and CEX – As soon as possible
Having given you an insight into the Tokenomics, let’s now look at the 10SET token.
10SET and Its Distinct Features
The Tenset’s token – 10SET has 3 distinct characteristics.
- Smart Backing
Let’s look at the details and see how each confers a peculiar character to this token.
Staking in cryptocurrency is simply the act of locking coins to gain rewards.
But with 10SET, it’s a different ball game … You ain’t locking no coins!
Its staking feature works with the RFI (Reflex.Finance) technology.
RFI charges a 1% fee to each transaction and automatically splits that fee among all holders of the token.
This technology is fully decentralized and works automatically. Users need not take any additional actions.
Users do not need to lock their coins anywhere or use a specific wallet.
**Find instructions on how to set up your wallets here.
Now because there is no minimum or maximum staking limit, each hodler of 10SET earns passive income.
The percentage of stakes earned is calculated based on the number of 10SET tokens a user owns.
Brilliantly structured, right?
As mentioned above, 10SET is an ERC 20 token that is aggressively deflationary.
This simply translates that the number of tokens reduces to further increase its value.
Talk about scarcity breeding value!!
How it does this is by attaching a 2% fee to every transfer made.
Half of the fee is burned to reduce the number of 10SETs in circulation.
For the other half, it is divided equally among all 10SET hodlers irrespective of the number of tokens they hodl.
This, to a greater extent, incentivizes hodling.
Another great way of earning passively!
Each 10SET token is backed by a number of selected cryptos and shares.
This is a great way of generating passive income via staking, depositing, or loans.
Again, some portion of the network’s profit will be used to buy 10SETs back from exchanges.
The tokens are burnt to further increase its value.
As of (08/04/2021), the price of 1 10SET is $2.90 with a total supply of 210,000,000 tokens. (Data as found on CMC)
**The circulating amount and market cap is not known.
If you did not get 10SET during the presales, you can acquire it from Uniswap, an automated liquidity protocol.
On Uniswap, you can get 10SETs on the Spot market with your WETH.
That’s it about the 10SET token.
Okay, I’m rounding up already… One more subheading and we are done!
Join me below as I answer some FAQs about the Tenset Network.
Frequently Asked Questions (FAQs) About The Tenset Project
Telegram – https://t.me/tenset_io
Twitter – https://twitter.com/Tenset_io
LinkedIn – https://www.linkedin.com/company/tenset
YouTube – https://www.youtube.com/channel/UC5RxXdhQ6BkbB4lfTMkWGhA
Facebook – https://www.facebook.com/tensetio
Github – https://github.com/TensetIO/tenset
LineMe – https://line.me/ti/g2/QBYVIHDNVY_InQzC-r7kjw
Medium – https://10set.medium.com/
As mentioned within the post, staking works on any ERC20 friendly wallet.
To check how your balance increases, do these:
→ Go to EtherScan
→ Paste your ETH address
→ Select 10SET from the listed assets
→ Your balance displays
Be sure to check with EtherScan as using other sites may delay in showing your balance.
Considering all the laid-out plans, I must say the Tenset project holds a lot of potentials.
It is coming up at a time when we are experiencing more crypto adoption (which I think is a good thing).
Not just that, it is bringing to the table a very unique proposition; one that will mark another landmark in the crypto-verse when fully executed.
The ETF 2.0 idea is a grand one with so many ways for users to let their funds work for them (which I think is the whole essence of the financial revolution thing).
To the project execution itself, the team has been in line with their roadmap and with their all clearly laid out plans.
The token has been listed on Uniswap as planned with listings on other exchanges in the pipeline.
It is in partnership with:
– Kanga Exchange: A reputable exchange in Poland
– Allgood Studio: One of the fastest-growing technology companies in Ukraine
– The Albanian-Polish Chamber of Commerce
The fact that its founders are known is a good sign too; at least we have someone taking responsibility.
Again, its activities can be checked out on EtherScan, the blockchain explorer of Ethereum, the DApps hub which is another plus to it.
With a vision like this, I see the Tenset Project all set for the moon and more ground-breaking feats.
NOTE: This should not be seen as an endorsement of this project or a guarantee that the team will do all that it has s laid out.
I ask that you DYOR before delving into such investments.
With this subheading done and dusted, let’s go on now and wrap up this post!
This is the part where I say ‘Adios’ to you. Hope you had a jolly-good-read time?
So far, I took you through all the rudiments of the Tenset Project and its 10SET token.
Now, you might be thinking I forgot to explain in detail how you can purchase 10SET from Uniswap.
I didn’t forget at all. (Actually, it’s kinda deliberate!)
I am setting up another post that will be solely on that. This is to enable me to show you, step by step, how you can do that.
But before you go, I will like to hear your thoughts on the Tenset Project.
Do you own 10SET tokens or you are yet to get your hands on them?
How did you acquire it – Presales or via Uniswap?
What do you think will be the price of 10SET by this time next year?
Perhaps, you still have something bugging you. Just go ahead and ask me about it.
Will be checking back for your replies and questions (if any) in the comment box below.
Guess you know the drill already?… Go ahead and share this post with friends on your fave social media platform.
The buttons are right below.
Adios … See you in my next post!