TEN
Crypto Overview
Purpose and Utility
TEN (TENFI) is a decentralized finance (DeFi) protocol built on the BNB Chain (formerly Binance Smart Chain). The project aims to provide yield optimization strategies through its auto-compounding vaults.
Business Model
The protocol generates revenue through performance fees on its yield optimization services. Users deposit tokens into TEN's vaults, which automatically compound yields from various DeFi protocols.
Real-World Adoption
The protocol has seen limited adoption since its launch in 2021. Current Total Value Locked (TVL) data indicates relatively low usage compared to similar yield optimizers on BNB Chain.
Platform Development
Development activity appears to have slowed significantly based on public GitHub repositories. The last major platform update was implemented several months ago.
Token Distribution and Governance
TENFI token serves as the protocol's governance token. Initial token distribution allocated 20% to the team with a vesting schedule, 30% to the community treasury, and 50% for liquidity mining and community incentives.
Crypto Impact
To assign a comfort level investing in TEN from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to TEN.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.