Tenset is a fairly new crypto project with high potential. It is under five dollars and currently around a twenty percent market dip. They have had many big announcements over the past few weeks, and surprisingly, it held up during the market crash, which included the top ten cryptocurrencies and many altcoins.
Tenset is a fairly new project in the DeFi space that is doing many innovative things and showing great potential. Tenset is aimed at being a bridge between crypto and the stock market.
The Tenset token has great utility already; it is an aggressively deflationary token with a smart staking system. They already have a smart contract in place that Certik has audited.
Deflationary projects, especially those with a promising future in doing innovative things, are good because as the project grows in demand, there is less supply at the same time, depending on how many coins they are burning. The Tenset token being aggressively deflationary while working on impressive things that can be big in the crypto space, depending on how big their products get and how much volume and the revenue it makes, will determine the long-term success.
How the Tenset staking mechanism works is quite impressive, you do not have to freeze the tokens or store them in any special wallet. The staking generates passive income, keeps some tokens out of circulation, and encourages hodling. The deflationary mechanism will be through the smart contracts that add two percent fees to each transaction; the more popular the project gets, the more deflationary it will be and the more staking rewards an individual will get.
Tenset is working to become a second-generation ETF that can change the crypto market and connect it with traditional stocks. The concept of Tenset being an ETF 2.0 token and being backed by other cryptocurrencies and assets is amazing.
Another major feature on the Tenset platform that they will be earning revenue from is the new launchpad recently announced; it is called the Gems Launch Platform. The platform has huge benefits for both Tenset holders and also the projects launching through their launchpad. Projects will get help in raising funds from investors and other benefits. Tenset holders will get early access to purchase into pre-sales. The success of the launch pad will depend on how successful Tenset is with getting projects to launch through their platform because launchpad space is quite competitive.
Tenset announced their mobile application, which they will launch very soon after all codes have been checked and passed the audit. The application will be available on both Google Play Store and Apple Store. Having an application is a bonus feature of Tenset.
If Tenset can burn millions of tokens regularly, it will make the token very deflationary, and it will help with token development.
They had many announcements this past week explaining why the token price was very stable during the market crash. Tenset being a new project is a high risk, but looking at the features and what it has to offer, you will realize that it has high potential.
