May 24, 2022 — Tenet, a layer-1 ecosystem for creating output and inferior for liquid staking derivatives (LSD), is expanding its beingness connected the Cmarket done 2 cardinal partnerships with QTUM, a Proof of Stake web combining the benefits of Ethereum and Bitcoin, and Conflux, a layer-1 web operating connected a hybrid Proof of Stake and Proof of Work statement mechanics called Tree-Graph.
Thanks to the partnerships, CFX and QTUM stakers volition beryllium capable to bring their assets to the Tenet blockchain and “restake” them to unlock much output for their assets. LSDs let holders to reap the afloat benefits of staking connected the archetypal network, portion having afloat power implicit their assets done a liquid token representing the underlying staked tokens. The LSD token tin beryllium utilized successful DeFi to gain much yield, supply liquidity oregon swap it utilizing decentralized protocols.
Tenet offers a unsocial layer-1 ecosystem whose information is derived partially from each the spouse tokens restaked connected its platform. In return, stakers get afloat entree to assorted DeFi output opportunities connected the concatenation done a Tenet LSD for each LSD they stake.
Users bridging their assets to Tenet volition person a unsocial LSD token issued by Ankr, a starring staking infrastructure supplier and Tenet partner. The LSD tokens tin past beryllium staked with Tenet to make the TLSDs. This enables stakers to triple their sources of output by including the archetypal network’s yield, Tenet staking yield, and Tenet DeFi protocol yield.
Tenet has partnered with Ankr, a staking infrastructure provider, to assistance motorboat LSD initiatives for its spouse layer-1 blockchains. The task is co-founded by Greg Gopman, antecedently CMO astatine Ankr, and Dan Peterson, formerly Head of Revenue Operations astatine Blockdaemon.
Conflux is the archetypal publically regulated blockchain successful China, offering a unsocial hybrid PoW and PoS consensus, arsenic good arsenic afloat enactment for EVM astute contracts. The web has been integrated by a fig of partners specified arsenic the City of Shanghai, McDonald’s China, China Telecom and others.
The CFX token is presently trading astatine an approximate $800 cardinal marketplace capitalization and $1.5B afloat diluted valuation, with 10% of the network’s proviso being staked. Due to its positioning arsenic the lone concatenation with regulatory enactment successful China, it has important traction successful the region. By moving unneurotic with Conflux, Tenet tin pat into a large marketplace portion bringing the benefits of LSDs to the Asian community.
Qtum is simply a decentralized Proof-of-Stake blockchain launched successful 2017. With a important beingness successful Asia and a increasing occidental community, Qtum offers a improvement level with elastic scalability, cleanable for onboarding the Web3 revolution. With a 6 cardinal dollar highest marketplace cap, Qtum volition beryllium instrumental successful increasing Tenet’s adoption and information arsenic 1 of the archetypal foundations to connection Tenet and Ankr-backed LSDs to their community.
"The Asian marketplace is often siloed from Western crypto projects, but it is simply a cardinal avenue of enlargement for immoderate task wishing to go genuinely successful,” said Greg Gopman, co-founder of Tenet. “Partnering with Conflux and Qtum is simply a win-win for each involved, arsenic the networks’ stakers get 2 other sources of output and overmuch greater flexibility with their ain customized LSD, portion we person other information and a accidental to pat into the tremendous Asian blockchain community.”
As Conflux's Global BD Lead, Dora has expressed his excitement astir the caller concern with Tenet, stating, ¨We are thrilled to spouse with Tenet and bring the powerfulness of LSDs to our community. This concern aligns with our ngo to foster a genuinely decentralized ecosystem, and the integration of LSDs volition not lone springiness our stakers the quality to maximize their output but besides heighten the flexibility and inferior of their assets.¨
Miguel Palencia, Qtum Co-Founder and COO had this to say: “Partnering with Tenet allows Qtum to beryllium 1 of the archetypal blockchains to connection Liquid Staking Derivatives. This further reward for lending computational resources to the web keeps successful enactment with our greenish philosophy, and should assistance further fortify some networks.”
About Tenet
Tenet is simply a DeFi-focused Layer-1 ecosystem built connected the Cosmos network, providing liquidity and output opportunities for liquid staking derivatives (LSDs). Tenet aims to unlock the imaginable of the rapidly increasing LSD market, which is presently valued astatine implicit $17 billion. Tenet takes a unsocial attack by sharing information done Diversified Proof of Stake, portion utilizing L1-native gauges to fto users gain output connected their liquid staking assets and enactment successful the platform's governance.
About Conflux
Conflux is simply a permissionless Layer 1 blockchain connecting decentralized economies crossed borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain situation with zero congestion, debased fees, and improved web security. As the lone regulatory compliant nationalist blockchain successful China, Conflux provides a unsocial vantage for projects gathering and expanding into Asia.
About Qtum
Qtum was founded successful 2016 arsenic a scalable Proof-of-Stake improvement platform. Qtum’s quality to merge Bitcoin’s basal UTXO exemplary with the EVM allows much options for blockchain developers. Qtum strives to enactment upstream with the latest Bitcoin and Ethereum updates, similar Taproot, SegWit, and Evmone. Qtum’s staking exemplary is permissionless, which allows immoderate users to enactment successful the validation process without the request for masternodes oregon delegation.
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