TEN Finance: A Hidden Gem That Can Surpass BlockFi
Dec 3, 2021
TEN Finance will be launching their lending platform in the next month and will become the next big platform for lending alongside popular lenders like AAVE, BlockFi, Compound and Venus.
Presently, lots of traditional financial services exist in the decentralized finance ecosystem with even new opportunities popping up for users. None is as exciting as lending, with everything it brings to the table. Users can choose between established lending protocols like BlockFi, AAVE and more based on interest rates, platform security, fees, deposit limit, etc.
However, one pressing issue that plagues crypto lending platforms is complexity. This is what new projects like TEN Finance are looking to solve with their new feature known as TENLend.
What TEN Finance stands to do is to finally realize some of the amazing potentials in decentralized finance by making it tangible, not just for specialists, but for everyone.
TEN Finance is a yield optimizer on the Binance Smart Chain that has been flying under the radar for a while. With plans to also provide a much-needed solution to the complexities associated with yield farming and liquidity pools through decentralized finance, the team is actively looking to grow their community, increase DeFi adoption and make it more mainstream.
Following the launch of YIELDEX on the 10th of October 2021, users are able to invest in multiple liquidity pools with a single click, thereby diversifying their portfolio and reducing the risk of impermanent loss. YIELDEX was built to play a key role in the DeFi yield farming landscape by removing the hassle of pairing, unpairing, then buying and selling unwanted tokens just to participate in a pool.
Users can invest in the YIELDEX LPs with BNB or BUSD in their wallets without having to unnecessarily buy tokens for LP sake. They can as well choose the amount they want to invest and the YIELDEX vault does the rest. Different vaults are available, including stablecoins, Premium tokens (BTC, Ethereum, BNB etc) and the High Yield vault, which is more blue chip with higher APR.
More innovations, partnerships, and more
Alongside YIELDEX, TEN Finance has other ways of incentivizing holders of their native token $TENFI. TEN Lots was created as a utility for the native token, to avoid a 'farm and dump' situation. Users can stake their TENFI tokens in a single/LP or hold, and go on to receive additional revenue. Lots are limited and available to TENFI holders in the form of BNB or BUSD income as long as they hold or stake the sufficient amount of TENFI token.
While most yield farms in DeFi today are tunnel-visioned on their platforms, the TEN Finance team fully understands the importance of giving users a seamless and secure farming experience with a lot more innovations on the way.
TEN Finance products will revolutionize the entire DeFi space on the Ethereum, BSC and other chains to lower the entry barrier and simplify decentralized finance for everyday people. Soon, they'll be called amongst some of the game-changing DeFi platforms such as BlockFi, AAVE, and Compound.
Contact details:
TEN Finance
Website: https://app.ten.finance
Twitter: https://twitter.com/tenfinance
Telegram: https://t.me/tenfinance
Press Release Service by Newswire.com
Original Source: TEN Finance: A Hidden Gem That Can Surpass BlockFi
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