Tenet Expands Presence on Cmarket with Partnerships Enabling Yield Generation for Liquid Staking Derivatives

FinanceFeeds Editorial Team

Tenet’s partnerships with Conflux and Qtum allow stakers to unlock additional yield through liquid staking derivatives, expanding liquidity and creating new opportunities in the DeFi space.

Tenet, a DeFi-focused Layer-1 ecosystem built on the Cosmos network, is making significant strides in crypto by forging partnerships with two prominent blockchain networks: Conflux and Qtum. These collaborations enable stakers of Conflux (CFX) and Qtum (QTUM) to leverage their assets on the Tenet blockchain and unlock additional yield through liquid staking derivatives (LSDs). By offering a unique ecosystem and enhanced utility, Tenet aims to tap into the Asian market while creating new avenues for yield generation and liquidity in the DeFi space.

Unlocking Yield Opportunities through Liquid Staking Derivatives:

Tenet’s liquid staking derivatives (LSDs) allow users to access the full benefits of staking their CFX and QTUM tokens while maintaining control over their assets through liquid tokens. In addition, the LSD tokens can be utilized in various DeFi protocols to earn additional yield, provide liquidity, or participate in decentralized swaps. Through this innovative approach, Tenet empowers stakers to triple their sources of profit, encompassing the original network’s yield, Tenet staking yield, and Tenet DeFi protocol yield.

Partnerships with Conflux and Qtum:

Tenet’s partnership with Conflux, a publicly regulated blockchain in China, enables the integration of its hybrid Proof of Work and Proof of Stake consensus mechanism called Tree-Graph. In addition, Conflux’s support for EVM intelligent contracts and its strong presence in the Asian market make it an ideal collaborator for Tenet. By joining forces, Tenet gains access to a substantial market while bringing the benefits of LSDs to the Asian blockchain community.

Similarly, collaborating with Qtum, a decentralized Proof-of-Stake blockchain with elastic scalability, further enhances Tenet’s adoption and security. With a substantial market presence in Asia and a growing Western community, Qtum provides a development platform that aligns well with Tenet’s goal of facilitating the Web3 revolution. Moreover, by being one of the first foundations to offer Tenet and Ankr-backed LSDs to their community, Qtum strengthens both networks while adhering to its green philosophy.

Ankr’s Role in Launching LSD Initiatives:

To facilitate the launch of LSD initiatives for partner layer-1 blockchains, Tenet has partnered with Ankr, a leading staking infrastructure provider. Users bridging their assets to Tenet receive unique LSD tokens issued by Ankr. These tokens can then be staked with Tenet, generating Tenet LSDs (TLSDs). Through this collaboration, stakers access additional yield opportunities while benefiting from Ankr’s expertise in staking infrastructure.

Expanding Liquidity and Security:

Tenet’s ecosystem partly derives its security from the partner tokens restaked on its platform. As more assets are brought to Tenet, the network’s security and value proposition increase, creating a mutually beneficial relationship for all stakeholders. With an emphasis on liquidity and yield generation, Tenet offers users diversified options for maximizing the potential of their staked assets while participating in the platform’s governance.

Tenet’s strategic partnerships with Conflux and Qtum mark a significant milestone in its mission to unlock the potential of the rapidly growing LSD market. By collaborating with blockchain networks with a strong regional presence and technological prowess, Tenet expands its reach and offers enhanced yield opportunities to stakers. These partnerships enable users to access yield sources, ranging from the original network’s yield to Tenet staking yield and Tenet DeFi protocol yield. With the support of Ankr and robust staking infrastructure, Tenet is well-positioned to pioneer the adoption of liquid staking derivatives in the crypto space while simultaneously tapping into the vast potential of the Asian blockchain community.

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