Partnership with Teneo Finance
DIA announces a new dApp integration to start delivering its cross-chain oracle capabilities for Teneo’s multi-layered yield optimisation protocol.
Teneo Finance is a three-layered incentivized protocol for holders powered by the TENEO token and market optimization. Teneo combines redistributed transaction fees with wrapped tokens. It aims to be a win-win-win situation for holders, traders and projects. Teneo can wrap any BEP20/ERC20 token to a ‘tenXXX’ (BNB → tenBNB). The tenBNB token then has a transaction fee which is redistributed to tenBNB holders, benefiting holders. At the same time the tenBNB token is pegged to BNB, which creates arbitrage opportunities for price movements of BNB — benefiting traders. This redistribution incentivizes BNB holders and liquidity providers without the need of minting new BNB tokens, and therefore avoiding inflation risk. On the contrary, it locks away the pegged token from the open market, benefiting the project.
We are excited to announce a new collaboration with Teneo Finance to integrate DIA’s oracle into Teneo’s multi-layered yield optimization protocol. By aggregating DIA oracles, Teneo will make use of DIA’s extensive cross-chain interoperability capabilities and implement a multi-chain solution for its wrapped tokens. This integration will enable Teneo users to operate freely in the platform, regardless of the blockchain network the tokens are deployed on. Additionally, DIA will look into integrating Teneo’s non-inflationary staking solution.
Michael Weber, DIA Association president comments:
“We are very excited to start working with the team behind Teneo Finance. Their yield optimization protocol will benefit greatly from DIA’s cross-chain capabilities and thus enable a great user experience to its users. With leading Blockchain networks like Ethereum soaring network volume and cost, offering a cross-chain presence has become a crucial feature for decentralised applications. We are thrilled to see new DeFi solutions like Teneo’s adopt DIA oracles to overcome this decisive issue.”
Nicole Buss, Marketing VP at Teneo:
“I have been following the progress of DIA since its start. What interests me is how it aims to solve two very relevant and complex problems in the crypto space. These are the integration of Fintech into crypto and the resulting oracle problem. I believe DIA has a very promising future and the solution it offers can add huge value to the tenxxx ecosystem. So I’m happy the phrase on our website ‘Let’s build together’ doesn’t just stay a phrase but is brought to life with partners like DIA.”