Layer 1 blockchain for Liquid Staking Derivatives (LSDs), aimed at unlocking liquidity and enhancing yields, Tenet (TENET), unveiled its mainnet launch roadmap, delineating the launch process into several phases, with the initial phase slated to commence over the forthcoming weeks.
During the first two phases, users, encompassing retroactive users of Tenet’s mainnet and testnet offerings, will have the opportunity to acquire Lightyears, which serve as Tenet’s points, thereby launching Interstellar, the incentive token of the project.
This token will direct the movement of value across the blockchain ecosystem while receiving value from projects within the ecosystem. Simultaneously, the TENET token will retain its role as the network’s gas token and will continue to be utilized for network governance and security purposes.
In the first phase of the launch, Tenet plans to distribute points to users who migrate to Tenet from specific LRT protocols. Initially, the allocation of Lightyears will be determined in accordance with various factors related to Tenet usage. This includes engagement from users across different segments, such as testnet participants, stakers using the Eva wallet, early adopters of cross-chain bridges, and individuals engaging with partner protocols integrated into the Tenet network.
During the second phase, the incentive structure will transition gradually towards partner protocols deployed on the Tenet network, including decentralized exchanges (DEXes) and LRT supported stablecoin solution.
Upon completion of the Lightyears distribution, the third phase will commence, during which incentives will be transferred to the community through the Interstellar token generation event (TGE).
Tenet are thrilled to announce the start of the Tenet mainnet rollout and a detailed roadmap for the future of Tenet! A new era begins today for the LRT ecosystem with our Proof of Value.Learn more: https://t.co/2ywsxJAE5u pic.twitter.com/BCMv2tSuYY
— Tenet Protocol (@tenet_org) April 24, 2024
Tenet Enhances Utility Of Liquid Staking Derivatives
The Tenet Protocol has been developed to improve the utility of liquid staking derivatives. Built on the Cosmos SDK technology, it functions as a network that is compatible with Ethereum Virtual Machine (EVM) and is specifically designed for LSDfi applications.
Tenet launched its testnet earlier this year, which was followed by several upgrades. Additionally, the project has conducted a collaborative testnet campaign with Galxe, a Web3 infrastructure and digital credential network.
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