TEN Finance x Satoshi Club AMA Recap from the 4th of November
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from TEN Finance and our guest, @tenfinance_admin. The AMA took place on the 4th of November.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Jonah 🏅🎹 | Satoshi Club: Hello Satoshi Clubbers! Welcome to another AMA session with TEN Finance! Our guest today is @tenfinance_admin. Hello and welcome to Satoshi Club 👏
Mr TEN (WILL NEVER DM YOU): Hi Jonah! Thanks for having me here, it’s a pleasure to be here with you all.
Jonah 🏅🎹 | Satoshi Club: We are excited to have you here, Mr TEN 😊
Mary | Satoshi Club: Welcome to Satoshi Club 👏 How are you today? 😀
Mr TEN (WILL NEVER DM YOU): I’m doing well, thanks for asking, and you guys?
Mary | Satoshi Club: We are excited about this AMA 👍 TEN Finance brings a good mood to everyone 😀 So, let’s start 🚀
Mr TEN (WILL NEVER DM YOU): I’m ready when you are.
Mary | Satoshi Club: Could you please introduce yourself and tell us more about TEN Finance? 😀
Mr TEN (WILL NEVER DM YOU): Yes, absolutely.
So I am one of the co-founders of TEN Finance, and what seems to be now, the “face” of TEN Finance.
My personal background is in Wall Street for the early part of my career, one in which I started as an analyst for a family office that traded in commodities, fixed income and FX. I then moved to a portfolio manager/head trader position and managed about $50M of a $500M fund for our clients, which were mostly ultra-high net worth individuals and their families.
After I left the family office, I went off on my own and set up my hedge fund, which I managed for about 5 years or so, prior to going into fintech development, concentrating mainly on mobile payments with cryptocurrency being the focus.
During my trading days, my hedge funds traded both discretionary and systematic programs. I have since been involved within the crypto/fintech space (2015), having worked on several projects/start-ups in the crypto/mobile payment sector which has now led us to De-Fi and the evolution we’ve seen with TEN Finance along the way.
Our other founding members come from the world of e-commerce, traditional brokerage services in FX/commodities, founding the first world video poker website and having developed online tracking and logistics management software prior to full integration into crypto and fintech.
Our dev team, over the years has contributed to several projects in the crypto space as well, thus having a deep and thorough knowledge base to choose from when we’re working on TEN Finance.
Mary | Satoshi Club: Wow, great background 👍
Mr TEN (WILL NEVER DM YOU): Hah, it helped a little.
Mary | Satoshi Club: Only little? 🤣
Mr TEN (WILL NEVER DM YOU): Very.
Jonah 🏅🎹 | Satoshi Club: You’re now an expert in managing funds 👏
Mr TEN (WILL NEVER DM YOU): Yeah, I did that for 15 years or so. Wall Street isn’t all that.
Mary | Satoshi Club: So, what is the main difference between traditional and decentralised finance? Do you miss some features of traditional finance here? 😉
Mr TEN (WILL NEVER DM YOU): I definitely do not miss traditional finance, that’s for sure.
Mary | Satoshi Club: Ahaha 🤣
Mr TEN (WILL NEVER DM YOU): The main difference is accessibility.
In traditional finance the “high net” individuals had access to things that most didn’t, but in De-Fi anyone, anywhere has access to the same products.
However, the mindset of individuals is not any different. The retail crowd is always the same and that will never seem to change.
Jonah 🏅🎹 | Satoshi Club: Everyone who has a taste of this will have a similar opinion.
Mr TEN (WILL NEVER DM YOU): Yes 100%!
Mary | Satoshi Club: But it’s also a big responsibility 😀 We shouldn’t forget about this.
Mr TEN (WILL NEVER DM YOU): Yes this is 100% true, which is why security and functionality in De-Fi is important. The infrastructure is there for us to continue moving forward.
Mary | Satoshi Club: It’s far from perfect now.
Mr TEN (WILL NEVER DM YOU): But there are also a lot of inexperienced devs taking on projects they shouldn’t. Many projects you see “today” will not be here tomorrow, especially after the next bear market. You really think all these P2E projects will thrive? Wait until Nintendo gets into P2E or some of the other big game studios. Not everyone will be an Axies Infinity, but that’s where the hype is at now.
Mary | Satoshi Club: I am sure only the strongest will survive.
Mr TEN (WILL NEVER DM YOU): Yes, as always.
Mary | Satoshi Club: How big is TEN Finance team? Who will help you to survive in bear market? 😉
Mr TEN (WILL NEVER DM YOU): Well, our team with our admins, devs, founders etc consist 15 people or so? probably more. As we have many volunteers helping us and I consider them as part of our team.
Our team is also well capitalized to last a bear market. I’ve been through nearly all the crypto bear markets, especially this last one from 2018–2020.
Mary | Satoshi Club: I was here also 🤣
Are you anonymous or public?
Mr TEN (WILL NEVER DM YOU): We’re anonymous as of this moment, just like most BSC projects 🙂
De-Fi is different than Gamefi in that respect, but we’ve had several audits in place, Certik and recently Peckshield.
Mary | Satoshi Club: Yes, true. But do you consider the possibility to reveal yourself?
Mr TEN (WILL NEVER DM YOU): Yeah absolutely, perhaps one day we shall do so.
Mary | Satoshi Club: So, what are the main goals for TEN Finance?
Mr TEN (WILL NEVER DM YOU): Simplicity, longevity, sustainability and security. But simplicity above all else because that is how we’ll be able to achieve mass adoption, which is the reason why we created the YIELDEX!
A first of its kind in all of the De-Fi world. Yeah, I can tell you more about it if you like.
Jonah 🏅🎹 | Satoshi Club: The more simpler it becomes the more users it brings.
Mr TEN (WILL NEVER DM YOU): Yes 100% agreed.
Mary | Satoshi Club: We will have questions about it from our community 😀 Maybe we can move to them?
Mr TEN (WILL NEVER DM YOU): Sure, let’s do that!
Mary | Satoshi Club: Let’s go 🚀
Q1 from Telegram user @Asela1112:
No pre-sale, no private sale, no pre mine, no allocations for the team or any one else, but everyone has equal opportunity to purchase TENFI tokens from day 1. This makes me have a lot of question. So, how much is the total supply of TENFI tokens? Is it a limited supply or unlimited supply? On which exchanges are TENFI tokens currently listed? Can users buy TENFI tokens directly via TEN Finance website? Without regulated TENFI token supply, how will you control the inflation rate on TENFI token? As well as you have not allocated a portion of $TENFI for your team members and development team, how will they be paid on behalf of their services?
Mr TEN (WILL NEVER DM YOU): Ok so:
- Total max supply is 256,000,000, which will be fully minted in 5 years and circulating supply is about 31M right now, so it’s a limited supply.
- We are available on DEX’s, PancakeSwap, Biswap, Apeswap etc.
- Our team gets a portion of dev rewards from TENFI rewards being paid daily, however, our team has not sold a single TENFI token to date, everything is paid out of pocket.
Mary | Satoshi Club: Can you share your tokenomics with us?
Mr TEN (WILL NEVER DM YOU): 💎 TEN Tokenomics 💎
⏺ Ticker : TENFI
⏺ Total Supply : 256,000,000
⏺ Circulating supply at launch : 0
⏺ Fair launch : 5,120,000 (2% of total supply)
⏺ TENFI is directly purchasable at TEN Website and PancakeSwap
⏺ Emissions : 4.44/block or 128,000 TENFI/day
🔥 Fee Details :
Tax ONLY on your profits :
⏺ Burn Fee: 1.50% (TENFI pools) 3.00% (Non-TENFI pools)
⏺ Network Fee: 0.5%
⏺ Gas Fee: 0.3%
Tax on your deposits :
⏺ Deposit Fee : 0.10%
🔥 Total Fee : 2.3% — 3.8% on PROFITS + 0.10% on DEPOSITS
👨💻 Developers Contribution Rewards:
⏺ 17.2% of TENFI claimed rewards will be sent to developers wallet to ensure the growth and longevity of TEN’s development
📔 For more in-depth detail, you can read it at our DOCS
I think this should have the basics, but if they want more, they can go to https://tenfinance.gitbook.io/faq/protocol/tokenomics
Mary | Satoshi Club: Thank you for sharing!
Mr TEN (WILL NEVER DM YOU): Yep.
Mary | Satoshi Club: As I understand you’re fully self funded? And don’t have any private investors?
Mr TEN (WILL NEVER DM YOU): True, we launched the project with just myself and the 2 other founders.
Mary | Satoshi Club: Congratulations 😀 Good job!
Thank you for your answers! Ready to proceed?
Mr TEN (WILL NEVER DM YOU): Sure!
Q2 from Telegram user @Ajpaa:
With YIELDEX, users can supply liquidity to multiple LPs and get to choose the type of the YIELDEX they want to invest in, like stablecoins, premium tokens and high yielding blue chip tokens. Also, each YIELDEX will have between 6–10 constituents. What are the requirements to invest in each of these types of the YIELDEX, namely stablecoins, premium tokens and high yielding blue chip tokens? What rewards/income do they offer to investors? Can you tell us the coins and tokens in these different YIELDEX? Lastly, briefly explain how the 6–10 constituents of each YIELDEX work?
Mr TEN (WILL NEVER DM YOU): Ok so the YIELDEX.
What is required is only having BUSD or BNB in your wallet, just enough to invest the amount you want. That’s all it is.
There’s more information, for those that haven’t read on the YIELDEX here: https://medium.com/tenfinance/ten-x-yieldex-1a5870b4b507
So here’s the thing and why we did the YIELDEX.
The YIELDEX provides for sufficient diversification while also providing you with the simplicity of being invested in De-Fi and earning high yields within seconds!
Yield farming is a long and annoying process, I think most can agree with this. It’s time consuming, especially when trying to invest into multiple LP’s.
Jonah 🏅🎹 | Satoshi Club: Yeah I agree and at times complex as well!
Mr TEN (WILL NEVER DM YOU): Every time you want to “yield farm” this is the process:
- Buying each individual token, approve, supply the tokens for LP (this itself is annoying already)
- Creating each LP for each
- Moving to the yield farm or optimizer to deposit your LP’s
- Withdrawing your LP’s, one by one
- Going back to the AMM to unpair your LP
- Then selling unwanted tokens you bought just to farm the LP
- Repeat these steps if doing more farming
We did tests and each LP usually takes 5–8 minutes to pair/supply, so imagine doing 10 of these, that’s at least an hour. We reduced that to seconds.
Jonah 🏅🎹 | Satoshi Club: Yeah and some will even want to do more than that 😁
Mary | Satoshi Club: How?
Mr TEN (WILL NEVER DM YOU): Our lovely devs! hehe.
Mary | Satoshi Club: Clever guys 😉
Mr TEN (WILL NEVER DM YOU): Our YIELDEX has been audited by Peckshield. We never launch anything unless it’s audited or comes from audited code without any changes.
Jonah 🏅🎹 | Satoshi Club: Impressive 👏👏
Mr TEN (WILL NEVER DM YOU): Yes and to get a list of the tokens/YIELDEX vaults you can go here: https://app.ten.finance/yieldex
Mary | Satoshi Club: Do you plan to make audits regular? Hackers never sleep.
Mr TEN (WILL NEVER DM YOU): Yes, always. User security is the key to us.
Mary | Satoshi Club: I like this!
Mr TEN (WILL NEVER DM YOU): With regards to how it works for the constituents, we like to have a diversified portfolio in there so that users are able to reduce impermanent loss risk as well.
We’ll be introducing new YIELDEX vaults over the coming days with new partnerships being announced as well for these collaborations.
Mary | Satoshi Club: Impermanent loss it’s always a pain.
Mr TEN (WILL NEVER DM YOU): Yes, which is why the YIELDEX reduces your overall risk.
Mary | Satoshi Club: Wow 😀 When you will be ready to announce the news, don’t forget to share it with us 😀
Mr TEN (WILL NEVER DM YOU): Yes, we always try to be as loud as we can on social media. So we’ll be sure to share with our valued colleagues like the Satoshi Club.
Mary | Satoshi Club: Great! Thank you for your answers! Ready to go to the next question?🚀
Mr TEN (WILL NEVER DM YOU): Let’s do it.
Jonah 🏅🎹 | Satoshi Club: Here it is.
Q3 from Telegram user @Cheriemike:
You have provided another way for users to earn additional passive income through simply staking your TENFI tokens, which is known as the “TEN Lots”, which means a limited number of “lots’ available for $TENFI holders. There are three different tiers of “TEN Lots”, which are Bronze, Silver and Gold that users can claim as long as they have TENFI token in an LP. My question is, since these “TEN Lots” is available to holders of TENFI tokens providing additional revenue for them, how will the fees be generated? Will users be able to withdraw their tokens in each of the tiers daily or it has a time period for that? You also said that the TEN Lots create a mutually beneficial relationship between $TENFI holders and TEN Finance. Can you please explain how such relationship is build?
Mr TEN (WILL NEVER DM YOU): Ok great question and one that is dear to me because it creates a unique ecosystem within the TENFI universe as a whole.
Before I go on, here’s a bit about the TEN Lots I wrote a month ago: https://medium.com/tenfinance/ten-x-ten-lots-ca9353da1379
The TEN Lots is a limited number of “lots” available for TENFI holders that will provide for them additional revenue stream through the deposit fees generated from the YIELDEX vaults and soon to be our upcoming TEN Lend platform.
The TEN Lots reward TENFI holders with additional BUSD or BNB as income as long as they hold their TEN Lots and have sufficient $TENFI according to the tier they claim.
While users of the YIELDEX benefit from the simplicity it offers them in regards to yield farming, the TEN Lots on the other hand, rewards TENFI token holders with additional revenue stream for holding our native token!
There are three tiers of TEN Lots, which can be claimed as long as you hold these tokens in an LP or our single token pool and is limited to 1 TEN Lot per wallet:
- Tier 1–2,500 TENFI (Bronze)
- Tier 2–50,000 TENFI (Silver)
- Tier 3–250,000 TENFI (Gold)
There is a vesting period for the TEN Lots to be claimed.
Mary | Satoshi Club: What is current price of $TENFI?
Mr TEN (WILL NEVER DM YOU): We’re at about 10 cents, quite cheap lol.
Mary | Satoshi Club: So, only $250 and the lot is yours 😀
Mr TEN (WILL NEVER DM YOU): For a Bronze TEN Lot, yes. And there is limited number of TEN Lots available.
Mary | Satoshi Club: Cool 😀 So, users already can claim lots?
Mr TEN (WILL NEVER DM YOU): Yes of course. https://app.ten.finance/tenlots
Jonah 🏅🎹 | Satoshi Club: Exciting, I’m sure Satoshi clubbers will want to claim lots too.
Mr TEN (WILL NEVER DM YOU): Yes, but first they must buy some $TENFI! hehe. Can’t have one without the other.
Jonah 🏅🎹 | Satoshi Club: Ha yeah 😁
Mary | Satoshi Club: Thank you for your answers, Mr.TEN! Ready to go to the next question?
Mr TEN (WILL NEVER DM YOU): Sure.
Q4 from Telegram user @Pavel_Jarosh:
While analysing emergency LP withdrawal process described meticulously in your whitepaper, we see an easy 4 step guided operation. However, there’s no additional information on the conditions when a user can withdraw LP tokens or the taxes that have to be paid in surplus. Could you provide more information on that as long as minimum term when a token must be kept before getting a right to withdraw in emergencies?
Mr TEN (WILL NEVER DM YOU): So this was done for our users as a way to provide all outlets for them if anything were to ever occur, so they didn’t need to go elsewhere.
It’s available for anyone and actually ANY project out there. Just follow the same steps we explained. There is no minimum timeframe to emergency withdraw. That function is available to everyone and anyone, as long as the code allows, which of course ours does. So this is done as a safety measure for our community and it is available as a guide to all users in De-Fi that are in other projects.
Jonah 🏅🎹 | Satoshi Club: It was a good decision including this.
Mr TEN (WILL NEVER DM YOU): Yeah, one that we’re confident that our users will never need to use.
Jonah 🏅🎹 | Satoshi Club: Haha, I like how confident you sound about this.
Mr TEN (WILL NEVER DM YOU): Hehe yeah, we feel very confident about our infrastructure.
Jonah 🏅🎹 | Satoshi Club: So the “emergency” in this case is dependent on the user?
Mr TEN (WILL NEVER DM YOU): Technically yes, but also if there’s ever an outage of the website or if there’s a hack. Some people freak out and think something is wrong and must withdraw.
Mary | Satoshi Club: Gotcha 👍 Thank you for the detailed answers!
Mr TEN (WILL NEVER DM YOU): Sometimes too detailed lol.
Jonah 🏅🎹 | Satoshi Club: Clarity is well needed 👍
Mary | Satoshi Club: Ready to jump to the next question? 🔥
Mr TEN (WILL NEVER DM YOU): Yep lets go!
Q5 from Telegram user @iceVermithraxx:
In reference to your roadmap Q4, TEN Future, there’s TENSure and TENLend design and ideation. Can you please elaborate on these two? When are we to expect these features, because there’s no date for the roadmap, Q4 to begin. And also on your possible cross-chain farming, why use the word possible? Is it not a sure project like TENLend and TENSue features?
Mr TEN (WILL NEVER DM YOU): Ok so TENLend is already in development and we should be ready to go live in a few weeks.
Here’s a sneak peak:
UI is done, we’re finalizing code/tokenomics and soon we’ll be ready to go live.
This is just a mock up FYI with regards to the data you see.
Jonah 🏅🎹 | Satoshi Club: I can already see about 7 tokens there.
Mr TEN (WILL NEVER DM YOU): That’s just a mock up hehe. We’ll have a full list of assets in the next week or so.
Jonah 🏅🎹 | Satoshi Club: That’s close already.
Mr TEN (WILL NEVER DM YOU): Yes very!
TENSure is something that we’re still running ideas on, and will come to it once TENLend is done.
Going multi-chain is a possibility, but also we need to understand that most of these are hyped, and thus not all will survive. We donÂt want to waste time and resources on going to every chain because it’s in “fashion”.
Mary | Satoshi Club: How many tokens will you have at the beginning?
Mr TEN (WILL NEVER DM YOU): Probably 8–10? Not sure yet.
And eventually this will lead to TENFI being used as collateral. Yes, one step at a time.
Mary | Satoshi Club: Thank you for your answers! Ready for the 6th and last question from this part?
Mr TEN (WILL NEVER DM YOU): Wow already?
Jonah 🏅🎹 | Satoshi Club: Yeah 😊
Mary | Satoshi Club: We have second part as well 😉
Mr TEN (WILL NEVER DM YOU): Time flies when you’re having fun!
Mary | Satoshi Club: Yes 🤣
Jonah 🏅🎹 | Satoshi Club: Alright here is the last question for this part.
Q6 from Telegram user @DK177:
You have scheduled an event called “Random Bonus Days to APR” to this quarter. I have never heard about this kind of feature. Could you please give a sneak peek of these random bonus days? Do you offer a higher APR on bonus days? Further, I noticed that the milestones scheduled for the third quarter are yet to be achieved. What is the reason for that delay? Do you assure that your team will work efficiently to achieve future goals?
Mr TEN (WILL NEVER DM YOU): Well for one, we actually achieved all of our milestones set forth for Q1–2–3 with the exception of LP4LP, which we put on backburner as we concentrated on other matters.
As far as random bonus days, that was an idea we had initially, which in theory is great, but in practice is not ideal when you have many vaults and a time lock to play with. Which doesn’t really become “random” and people can actually see what you’re doing on chain, so it wouldn’t be random and a “surprise” like we wanted to.
Regardless, we are very confident that our team has and will achieve all the roadmap objectives.
Mary | Satoshi Club: So, no surprises? 😉
Mr TEN (WILL NEVER DM YOU): I hate surprises.
Jonah 🏅🎹 | Satoshi Club: Surprises can be great too.
Mr TEN (WILL NEVER DM YOU): Sometimes.
Mary | Satoshi Club: We wish you to achieve everything you have planned!
Mr TEN (WILL NEVER DM YOU): Thank you for the kind words!
Mary | Satoshi Club: And now we came close to the next part of our AMA — live part! Mr TEN, let’s see how fast are your fingers 🤣 Ready?
Mr TEN (WILL NEVER DM YOU): Lol I’m old, my fingers can’t move as fast.
Mary | Satoshi Club: So, we will let our users ask questions and you will type as fast as possible with your fingers 🤣 Let’s go 🚀
Part 2 — live questions from the Telegram community
Q1 from Telegram user @hmdtadel:
What is this “YIELDEX” feature you mentioned in your website ? What does it do?
Mr TEN (WILL NEVER DM YOU): The YIELDEX is the future of yield farming.
It allows for one click diversification into multiple LP’s, which reduces your risk to impermanent loss via diversification and all you need is BUSD or BNB in your wallet.
Q2 from Telegram user @JasmineSha:
You said in one medium article that there is a limit of 1 TEN Lot per wallet. How do you know if one user has two wallets? Do you ask investors for KYC?
Mr TEN (WILL NEVER DM YOU): Well, wallets have individual unique addresses, so you can create multiple wallets on Metamask for example, and no KYC for users.
Q3 from Telegram user @iceVermithraxx:
Each YIELDEX will comprise of 5–8 LP tokens, from multiple AMM’s, allowing for diversification and simplicity while earning LP rewards along with TENFI reward tokens.
SLP YIELDEX — Stable
LPPLP YIELDEX — Premium
LPHYLP YIELDEX — High Yield LP
What are the difference between the SLP, LPPLP, and LPHYLP YIELDEX?
Mr TEN (WILL NEVER DM YOU): Well currently we actually have 4 YIELDEX vaults:
- Biswap ALL STAR LP
- Stable LP
- High Yield
The difference is mainly in the composition of the vaults and the constituents. The names usually tell what it is. Premium contains BNB, CAKE, BTC, ETH etc. The high yield contains high yielding LPs. Stable contains of course stablecoin. And Biswap ALLSTAR are some of the best and most liquid LPs on Biswap.
Q4 from Telegram user @Cheriemike:
You have done a Learn and Earn campaign with BSC News, can you tell us more about this Learn and Earn campaign? What was the purpose of it? Will you also have any campaign soon so that we, from Satoshi Club, can also learn and earn?
Mr TEN (WILL NEVER DM YOU): Great question and this is something we will discuss with the team at Satoshi Club to do something similar!
The purpose was to mainly familiarize people with our platform and to get them used to simplicity. Seems like people love simplicity in theory but not in actual usage lol.
Q5 from Telegram user @Loveee_0007:
Can you list 3 killer features of your project that make it ahead of competitors? What are the competitive advantages that you feel most confident about?
Mr TEN (WILL NEVER DM YOU): YIELDEX, TEN Lots and our team!
With the YIELDEX we are the first to market, first in all of De-Fi in doing something that hasn’t been done yet and soon the world will find out.
TEN Lots gives more $ to our holders simply for staking their TENFI tokens.
And our team because, well, there are no clones of us just yet and that’s as unique as it can get. So we’re a collective group that is here to make sure that everything we set forth to do is accomplished and that we are able to contribute for our community to benefit.
Q6 from Telegram user @isabella_blackk:
Are there people behind YIELDEX or is it using an artificial intelligence system? Will YIELDEX offer us only one safe? Will you have crates that differ according to the fund?
Mr TEN (WILL NEVER DM YOU): Currently our team does the analysis and computations for constituents and so forth. While AI is great, I don’t fully trust it yet to handle user funds. AI can’t see fundamental issues/cracks with projects if we need to move things around.
We will be introducing additional YIELDEX vaults soon through partnerships/collaborations.
Q7 from Telegram user @meml97:
I saw that TEN Finance’s slogan is “Decentralized Finance, Simplified”, but sometimes when people talk about simplification it could mean lack of something, whether if it’s security, options or even opportunities. So, that being said, I was wondering, what does De-Fi simplified really means to you? How does TEN Finance achieve this simplified side of the decentralized finance without risking any other aspect of the project and what De-Fi can really offer to people? How do you make it possible to have a simplified De-Fi space while also providing every possible aspect of it and not neglecting other aspects at the same time?
Mr TEN (WILL NEVER DM YOU): Great question.
For us simplification comes down to making it seamless and easy for a user to interact with our platform.
One click zap into individual LP with TENZap, one click investing in multiple LPs with YIELDEX, one click buying $TENFI on our site.
Along with the ease of use we also feel that our UI is quite simple, clean, easy to understand and use, this being just as important for user experience.
And the fact that we take security very seriously, our users can rest being assured that we absolutely DID NOT cut corners to get to simplicity 🙂
Q8 from Telegram user @chinyere2020:
The name “TEN” looks like an abbreviation to me. Can you tell the full meaning if it is an abbreviation?
Mr TEN (WILL NEVER DM YOU): I’ll take this easy one.
TEN is obviously associated with 🔟, however it stands for Token Enrichment Network.
It goes with what we do as a platform, we “enrich” your tokens, whether it is your LP or your $TENFI, we add value to it, as the definition of “enrichment” states:
the action of improving or enhancing the quality or value of something.
“enrichment of the soil for more plant growth”
the process of making someone wealthy or wealthier.
“the policy was denounced as a means of enrichment of a small elite”
Q9 from Telegram user @Ishan1_7:
You mention that users would be able to get discounted loan rates. Can you tell us what the price range or value of such discounts will be, and what factors will influence it?
Mr TEN (WILL NEVER DM YOU): This is for the TENLend feature coming up.
While all the details are not yet finalized, what we can say is that TENFI holders will be able to earn additional revenue from TENLend platform revenue and thus, when supplying/borrowing assets they will get a discount/premium, meaning more $$$ for TENFI holders!
Q10 from Telegram user @Korryl:
Hello I just wonder where can we find information about the team from Ten Finance project? How about their experience with cryptocurrency? Is your team anonymous?
Mr TEN (WILL NEVER DM YOU): Who are the founders of TEN? And what are their backgrounds?
✴️ Mr. TEN
✅ Former Award-winning hedge fund manager
✅ Started his own firm which won several industrial awards
✅ Panelists for several industrial conferences
✅ 15 years of experience in managing fund in Wall Street
✅ Fund manager for several big institutional clients
✴️ Mr. A
✅ A tech-savant, with vision far outstretched his time
✅ Founding partner for one of the world earliest online video poker
✅ Ventured into age verification process in the early stage
✅ Worked on online tracking and logistic management software
✅ And also, a local music legend in his neighborhood that everyone loves!
✴️ Mr. D
✅ Veteran of traditional markets with proven experience in navigating around it
✅ Founded brokerage firm that provides online trading solutions within the FX, stocks and commodities
✅ Fintech enthusiast and investor
✅ His prolonged experience in financial institution shaped his belief in DeFi to be the future of Finance
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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