Tenet Gears Up To Launch Its Mainnet In Three Phases, Introduces Interstellar Incentive Token
In Brief
Tenet unveiled its mainnet launch roadmap, delineating the launch into three phases, with the initial one commencing over the next weeks.
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 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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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
