Teneo Public Project Announcement
As previewed above, we are delighted to announce the latest addition to the Synapse Network, with Teneo.
Every trader who survived a long period of crypto holding and/or trading is familiar with the following situation:
One moment you look into your portfolio and are happy because of a great performance with a sprawling green candle view — the next moment all profits are gone… -30%, -50% or even -90% are common percentages in the crypto space.
Teneo addresses this. Long term holders, as well as traders and projects alike, are able to benefit from the extreme volatility of the crypto market. The Teneo Project creates a Win-Win-Win situation for all these parties.
By creating a 2 way tokenomic split, Teneo uses their tenXXX pegged token to give their tenXXX a nearly 1 to 1 ratio with any token of the market, at any time, where the difference only comes in the form of the fees needed to power the transaction.
Therefore the exchange ratio of ETH:tenETH is nearly 1:1 at any time.
But why should someone make a transaction with this token when it has a fee that it’s mirror counterpart usually lacks ? Would people not just lock and hold until they want to cash out?
That’s where the ~1:1 ratio comes in. Liquidity pools of tenXXX are rewarded (and also gain reflows). That means there is an arbitrage possibility on every price change of the pegged token in any pool. And in contrast to other similar tokens, there is no possibility to drain wealth out of the system, because the token is pegged (1 tenETH is always worth 1 ETH minus the transaction fee).
This is visible in the chart WBTC:BTC. The price of WBTC is moving +1% to -1% around the BTC price (because of the 1% lock/unlock fees). But every time ETH is moving 10% tenETH will also move ~10% and the gaps in the DEX liquidity pools will be filled by arbitrage traders.
With this system in place, holders are able to access long term solutions in the form of the tenXXX, with no regard to long staking periods or liquidity pools dropdowns, traders are able to access very safe short and medium term solutions by doing arbitrage trading between liquidity pools, and thanks to Teneo pegged token technology, the original token supply diminish every time a new tenXXX get’s minted, pushing the token value as a whole to higher peaks.
And that’s exactly why we will be launching their sale soon. We see a brilliant project with solid fundamentals, a dedicated team and a lot of potential to develop on their platform.
Teneo could bring a revolution to the trading ecosystem, and we want to be on the front seats of that show.
Below you will find everything you need to participate in their presale. In the following weeks we will keep updating you on our upcoming projects, so stay tuned to our announcement and media channels and be ready to participate in our next launch.
- 09.02.2022 9 AM UTC — Whitelist start (mandatory for non-SNP stakers): https://gleam.io/IzKw0/synapse-network-teneo-public
- 11.02.2022 9 AM UTC — SNP stakers can start to register their interest in guaranteed allocation
- 13.02.2022 9 AM UTC — End of time for Whitelist and for interest registration
- 13.02.2022 7 PM UTC — Whitelist Announcement, publication of allocation size, KYC for Whitelisted start
- 15.02.2022 9 AM UTC — Sale Start
- 16.02.2022 9 AM UTC — Sale End
- 17.02.2022 9 AM UTC — Return of overallocated unused funds
- Round — Public
- Price per token — 0.095$
- Platform allocation — 200 000$
- Gleam competition allocation — 200$
- Gleam competition — number of winners — 100
What is Teneo and why are they so interesting?
Teneo’s built-in automated market maker (AMM) allows investors to lock in their cryptocurrencies and mint an equal amount of tenXXX Tokens, which is pegged to the original token and can always be redeemed at the pegged price — minus a small transaction fee.
On our part, we thoroughly reviewed the project, team, roadmap, tokenomics and had fruitful meetings — we strongly believe in the project. If you would like to learn more about it, which we encourage you to do, please read: https://teneo.finance/litepaper.pdf
And visit their website: https://teneo.finance/
And always remember to not invest before you DYOR about the project!
How does the investment process look like?
There are two options for this:
- having tickets for the platform (guaranteed allocation).
- winning the Gleam competition, which is open to everyone. Here 10% of the investment pool is allocated for the winners. There is no overallocation here — it is reserved for our stakers.
For both options you need to pass the KYC process.
We give everyone the opportunity to reach the required tier for investment until the end of the registration. Everyone has to enter the platform and express interest in participating in the investment before this date.
How can you invest?
You will be able to invest on 16 networks (more networks to come soon):
- Binance Smart Chain
- Polygon (Matic)
You will be able to invest with multiple stablecoins:
About Synapse Network
Synapse Network is developing a cross-chain investment and start-up acceleration ecosystem based on blockchain technology to give everybody an equal chance to contribute to great upcoming projects and to do so early on. We are bridging the gap between the traditional & crypto market. The idea of the Synapse Network technology goes beyond the standard offer of launchpads available on the market, becoming a true technological brand providing tech solutions.