TENET (TENET) is a new layer 1 network designed to unlock liquidity and increase yields in DeFi by focusing on Liquid Staking Derivatives (LSDs). It is the first to market in building multiple new DeFi primitives, aiming to revolutionize the DeFi landscape. The core technology of TENET focuses on improving the three keystones of DeFi: Security, Liquidity, and Simplicity.
TENET's security is achieved through a Diversified Proof of Stake (DPOS) verification system that leverages liquid staking derivatives of major networks for validation. This makes TENET a highly secure blockchain, harder to break than the combined strength of Ethereum, BNB Chain, MATIC, Polkadot, etc.
TENET operates through a multi-layered architecture consisting of the Application Layer, the Consensus Layer, and the Communication Layer. The Application Layer serves as a foundation for developers to build decentralized applications and smart contracts using the TENET protocol. The Consensus Layer of TENET relies on the DPoS mechanism to achieve network consensus. Through a voting system, a group of validators is selected based on reputation and stake, ensuring a decentralized network while maintaining security. The Communication Layer is powered by the LayerZero Cross-Chain Security Protocol, which enables secure communication and data transfer between different blockchains. This protocol ensures that transactions and data exchanged between blockchains are transparent, verifiable, and resistant to tampering.
TENET, the native token of TENET, is available on various exchanges. It has a total supply of 1,200,000,000, among which 108,000,000 are in circulation (as of June 21, 2023).
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