TEN X LEND
Passive income, realized!
Ok so we have the basics down….own $TENFI, get $LEND as airdrop, claim TEN Lots get LEND platform fee rewards, own $LEND, supply $LEND to get more $LEND, then lock or stake your tLEND after you supply to markets to then get platform fee rewards and penalties from early vests…ok, got it!
How can one platform have so many ways to earn “passive income”? Although I truly despise this term as it is so overused, it is indeed something that can truly apply to our ecosystem!
Let’s try and break this down, one by one in the different ways to earn a passive income through the TEN Finance ecosystem.
ALL INFORMATION IN THIS POST IS HYPOTHETICAL AND SHOULD BE TAKEN INTO CONSIDERATION SOLELY AS INFORMATIONAL AND EDUCATIONAL FOR THE PURPOSES OF TEN FINANCE PASSIVE INCOME!
Steve owns 10,000 $TENFI (the minimum number eligible for LENDrop, read more here).
Steve receives 20,000 $LEND as part of the LENDrop campaign to TENizens. Steve is able to unlock his vested $LEND tokens every 90 days. Day 91, Steve takes his $LEND tokens, supplies it to the Money Markets on app.ten.finance and receives tLEND tokens as a deposit receipt, this allows him to also receive additional $LEND tokens as an incentive for supplying his tokens to the market. ($LEND tokens can not be used as collateral at launch, will do so later on)
Steve then takes his tLEND tokens to the LEND staking/locking page.
Steve can now either stake his tLEND tokens to earn platform fees or lock them.
Staking allows you to withdraw your tLEND anytime, however, there are penalties if you withdraw before day 91!
Locking your tLEND tokens does just that, you can not unlock them until day 91, which you earn Platform Fee rewards as well as the penalty fees earned from those that unstake early!
- Users can stake tLEND tokens and receive Platform Fee Rewards in (BUSD)
- Users can unstake at any given point in time
- Users will be deducted a penalty from their Platform Fee Rewards if they unstake their tokens before Vesting period is complete
- Penalty Fee Rewards will follow the structure below;
• 50% penalty if user unstakes before 30 days
• 35% penalty if user unstakes after day 31 and before day 60
• 25% penalty if user unstakes after day 61 and before day 90
- Users can lock tLEND tokens for three (3) months and will receive Platform Fee Rewards plus Penalty Fee Rewards in (BUSD)
- The locked tLEND is subject to a mandatory three (3) months lock, and cannot be unlocked early
- Lockers earn the Penalty Fee Rewards from users who unstake their tLEND tokens before the 3 months Vesting period is complete
What we have yet to highlight here is also how LEND/BNB LP providers will also be able to benefit from earning additional TENFI tokens, to allow for the claiming of TEN Lots through rewards accumulation as well as bonus $LEND tokens for providing LP!
And you have TEN Lots you say? Well you’re definitely earning double the passive income from the LEND platform!
Future YIELDEX vaults will also include LEND/BNB as part of the ecosystem.
As per the always changing and fluid Roadmap, nearly all upcoming features of the TEN Finance platform will be made to benefit the holders of $TENFI and $LEND by earning a continuous passive income.
TEN Finance is Decentralized Finance, Simplified! Where you can earn, lend, borrow & soon swap, all in one place!