A second-generation ETF is building a bridge between the cryptocurrency industry and the stock market, with a platform that allows everyone to have equal access to the best investment products in the world.
Tenset says it will open the door to the next frontier of DeFi incentives, eliminating past problems like market manipulation, high fees, inflation, complexity and exclusivity.
The goal of the project is to bring traditional investors into the digital assets space. All of this comes at a time when there is a growing interest in cryptocurrencies from institutions, with companies like Tesla and MicroStrategy investing billions of dollars in Bitcoin.
How it works
At the heart of the ecosystem is a deflationary token known as 10set, which features a basket of cryptocurrencies that generate passive income through staking. While some of these digital assets will be stable and well-established currencies, innovative assets that could shake up the crypto economy in the years to come will also be included. Community members will also have input into select coins and in the future it is hoped that artificial intelligence will play a role in detecting promising projects as is already the case with platforms such as Bitcoin Pro.
The profits generated will later be used to buy back the 10set token on the exchanges, which will then be burned to create deflation. Hopefully this will help create scarcity in the years to come.
Tenset also plans to improve its pool of passive income streams by manually collecting shares of well-established companies that pay high dividends and distributing the proceeds via blockchain. According to the company, tech and industrial companies that outperformed last year will be heavily characterized.
The 10set token has other attributes that help it serve as a deflationary resource. Owners can stake their assets without freezing them or keeping them in a special wallet. Each transaction made using the 10set token carries an automatic 2% commission. While half of the funds generated through this charge are automatically burned to reduce overall circulation, the other half is distributed to users in order to encourage trading. Uniswap's liquidity pools and exchange wallets will be blacklisted to receive these incentives to ensure traders get 100% of the income generated.
An ambitious roadmap has already been established for next year, with 10set expected to be listed on Uniswap next month. The project will also participate in Blockchain Week Rome 2021 to raise awareness of its concept. New strategic alliances and partnerships will be unveiled in the second quarter of 2021 and the alpha version of its mobile app will be released.
The release of the finalized version of its mobile app is also planned. As the end of the year approaches, loans will begin to be offered through this app, improvements will be made to the company's staking platform, and stock market dividends will be automated. A global presale for 10set tokens is scheduled for March 7.