In this era of technological revolution, here comes yet another game-changer – Tenset(10SET)!

Tenset(10SET) is an aggressively deflationary token built on the Ethereum blockchain.

This project was launched in early 2021 and works on the concept of the Smart Staking system.

I know you are already wondering what the heck ‘deflationary token’ and ‘Smart Staking System’ means.

I gave a detailed explanation of them and the other things you ought to know about the Tenset project in subsequent subheadings.

Tag along as we sail into the world of Tenset.

Tenset Post Summary

In this part, I listed the various subheadings under which Tenset will be discussed.

They include:

• Tenset Project Overview
• Phases of the Tenset Project: What It Aims To Achieve
• Tenset Tokenomics
• 10SET and Its Distinct Features
• Frequently Asked Questions About Tenset
• Conclusion

The links to the full details of each subheading are embedded in it.

Let’s get to discussing the subheadings at once.

Tenset Project Overview

Tenset is a technological hub specializing in blockchain.

It provides innovative young startups with the necessary tools to flourish.

It further connects them with a powerful marketing and a global community through its world-class launchpad.

Tenset Gem Launch Platform is widely respected as one of the top launchpads in the crypto space, having previously launched hugely successful projects such as Metahero and Everdome.

From the information on whois.com, it was registered on 7th January 2021 and is located in Poland.

It was founded by Jonasz Miara and a team of 5 others. There’s also an investor, advisors (2), and ambassadors (3).

The project plans to bring conventional asset investment into the cryptocurrency space.

The move is particularly appropriate now, considering the number of public institutions entering the crypto-verse.

The project’s plans are outlined in 3 parts – Phase 1, 2, and 3.

In the next subheading, let’s examine what it aims to achieve in each stage.

Phases of the Tenset Project: What It Aims To Achieve

The phases are as follows:

• Phase 1 – Construction and Launch of the Tenset Network
• Phase 2 – Selection of Crypto Assets and Community Voting
• Phase 3 – Bridging with the Stock Market

I have details of each phase below.

Phase 1 – Construction and Launch of the Tenset Network

So far, the Tenset Network has been constructed and launched since January 2021.

It has also created its token(more details on this in a later subheading), listed on Uniswap.

The token created is deflationary, i.e., the supply decreases over time.

The team achieves this with coin burning; just as is used for Binance Coin (BNB).

The burning mechanism is encoded directly into the smart contract.

The smart contract is programmed to stop the burning process when the total supply of the coins reaches 2,100,000.

In other words, the coin burning stops when 1% of the total supply (210,000,000) is burned.

At this point, the Tenset network will implement other mechanisms to ensure passive income for its users.

Phase 2 – Selection of Crypto Assets and Community Voting

Selection of Assets

At this point, funds obtained from the sales will be used to buy a number of selected cryptos to generate passive income.

This will be done via staking and other means.

The criteria for selecting any crypto will be its stability and profit generation potential.

Coins like BTC, ETH, LTC, YF-DAI, and USDC were mentioned in the Whitepaper(Pg. 16), which are still subject to change in the future.

The profits from staking will be used to fund the Tenset Network.

Again, 30% of the network’s profit will be used to buy back Tenset tokens from exchanges to be burnt.

This will cause another deflationary effect.

Community Voting

It also plans to involve its users in its decision-making by granting them voting rights.

They can vote for or against a proposed idea.

Although the method of conferring the right to vote on users has not been specified, it will surely be fair to all.

One vote will either be allocated to one user, or it can be according to the number of Tenset tokens they hold.

Let’s go ahead and see the plans in place for Phase 3.

Phase 3 – Bridging with the Stock Market

Here, the Tenset network aims to create:

• passive income streams from assets like cryptocurrencies and
• dividend shares from established companies

For this, the network is developing the know-how to buy shares from conventional exchanges and automate the dividend payout.

A greater percentage of this will be done using the blockchain technology.

The assets selected will be the ones that are going to generate long-term profits and will be kept in the care of financial experts.

In adverse market conditions, the management team sits down together to find a way to manage its portfolio.

But in a prevailing bearish market, the network will buy back Tenset tokens from exchanges quarterly.

This is to stimulate the Tenset token economy further.

Here is the breakdown of the network’s proposed activity for each phase.

Before we get to looking at the Tenset token, let’s have a look at its Tokenomics.

Scroll down, please.

Tenset Tokenomics

Tokenomics (simply Token Economics) gives you all the needed information about a token.

For Tenset, find its token details below:

• Token Name – Tenset
• Token Ticker – 10SET
• Token Standard – ERC20
• Token Blockchain – Ethereum Blockchain
• Total Supply – 210, 000, 000
• Smart Contract Number – 0x7FF4169a6B5122b664c51c95727d87750eC07c84
• Burnt Token (8th April 2021) – 5,750,265 10SET
• Gas price (8th April 2021) – 99 Gwei
• Total Target from Public Sales – 15,050 ETH
• Presales Information – See table below.

• Listing on exchanges:
  • Uniswap – Done (31/03/2021)
  • Other DEX and CEX – As soon as possible

Having given you an insight into the Tokenomics, let’s now look at the 10SET token.

Read on.

10SET and Its Distinct Features

10SET is a deflationary token based on the BNB chain.

This utility token powers the diverse Tenset ecosystem as the native currency for all services.

This includes access to the Tenset launchpad, Infinity Airdrop platform, and NFT Marketplace.

To participate in launches, users must buy 10SET tokens and lock them from their private wallets.

The supply of 10SET tokens is actively burned to reduce the total supply.

The Tenset’s token – 10SET has 3 distinct characteristics.

They are

• Staking
• Deflationary
• Smart Backing

Let’s look at the details and see how each confers a peculiar character to this token.

Staking

Staking in cryptocurrency is simply the act of locking coins to gain rewards.

But with 10SET, it’s a different ball game … You ain’t locking no coins!

Its staking feature works with the RFI (Reflex.Finance) technology.

RFI charges a 1% fee for each transaction and automatically splits that fee among all token holders.

This technology is fully decentralized and works automatically. Users need not take any additional actions.

Users do not need to lock their coins anywhere or use a specific wallet.

Any ERC20 wallet (e.g., MyEtherWallet (MEW), MetaMask, Ledger, Trust Wallet, Exodus, and Private Keys) supports 10SET’s staking mechanism.

**Find instructions on how to set up your wallets here.

Now because there is no minimum or maximum staking limit, each hodler of 10SET earns passive income.

The percentage of stakes earned is calculated based on the number of 10SET tokens a user owns.

Brilliantly structured, right?

Deflationary

As mentioned above, 10SET is an ERC 20 token that is aggressively deflationary.

This simply means that the number of tokens is reduced to increase its value further.

Talk about scarcity breeding value!!

How it does this is by attaching a 2% fee to every transfer made.

Half the fee is burned to reduce the number of 10SETs in circulation.

The other half is divided equally among all 10SET hodlers, regardless of the number of tokens they hodl.

This, to a greater extent, incentivizes hodling.

Another great way of earning passively!

Smart Backing

You know how stablecoins and wrapped tokens are backed by an asset somewhere, so it is with 10SET.

Each 10SET token is backed by a number of selected cryptos and shares.

This is a great way of generating passive income via staking, depositing, or loans.

Again, some of the network’s profit will be used to buy 10SETs back from exchanges.

The tokens are burnt to increase their value further.

As of (08/04/2021), the price of 1 10SET is $2.90, with a total supply of 210,000,000 tokens. (Data as found on CMC)

**The circulating amount and market cap are not known.

If you did not get 10SET during the presales, you can acquire it from Uniswap, an automated liquidity protocol.

On Uniswap, you can get 10SETs on the Spot market with your WETH.

That’s it about the 10SET token.

Okay, I’m rounding up already… One more subheading, and we are done!

Join me below as I answer some FAQs about the Tenset Network.

Frequently Asked Questions (FAQs) About The Tenset Project

With this subheading done and dusted, let’s go on now and wrap up this post!

Conclusion

This is the part where I say ‘Adios’ to you. I hope you had a jolly good read time.

So far, I have taken you through all the rudiments of the Tenset Project and its 10SET token.

Now, you might be thinking I forgot to explain in detail how you can purchase 10SET from Uniswap.

I didn’t forget at all. (Actually, it’s kinda deliberate!)

I am setting up another post that will be solely on that. This is to enable me to show you, step by step, how you can do that.

But before you go, I would like to hear your thoughts on the Tenset Project.

Do you own 10SET tokens, or are you yet to get your hands on them?

How did you acquire it – Presales or via Uniswap?

What do you think will be the price of 10SET by this time next year?

Perhaps, you still have something bugging you. Just go ahead and ask me about it.

Will be checking back for your replies and questions (if any) in the comment box below.

I guess you know the drill already. Go ahead and share this post with friends on your favorite social media platform.

The buttons are right below.

Adios … See you in my next post!