Telegram AMA Recap: Ten Finance

TeleAMA with TEN FINANCE Recap

Basic information

Time: 2 PM UTC | Oct 22nd

Project name: Ten Finance

Host: Reginald from BSC Army

Guest speakers: Mr Ten – Co-Founder of TEN Finance

Main content:

Segment 1: Introduction

Segment 2: Twitter’s questions Lucas

Segment 3: Live Q&A

MAIN CONTENT

Reginald: We will start this AMA session with Ten Finance in a few minutes. Hope everyone will take a moment to monitor and evaluate the investment opportunity.

You must follow the following channels in order to participate in AMA:

Join Ten Finance Telegram (https://t.me/tenfinance )

Join BSC Army Telegram (https://t.me/bscarmychannel)

Follow Ten Finance Twitter (https://twitter.com/TENfinance)

Follow BSC Army Twitter(https://twitter.com/BARMY_Official)

Welcome to our guest: @tenfinance_admin – Co-Founder of TEN Finance. How do you feel today? 😊

Mr Ten: hi @ReginaldBarmy

I am doing well and you?

Reginald: Im good. Thank you sir

Yes, that’s Mr Ten – Co-Founder of TEN Finance ladies and gentlemen. By the way I’m Reginald – the AMA Host. 😁

Mr Ten: good to hear that 🙂

Reginald: Before we start, I will tell you the rules of today’s AMA. We will have a total of 15 questions and are divided into 3 separate segments.

Segment 1: Introduction (5 question)

Segment 2: Twitter Questions (5 questions)

Segment 3: Live Q&A (5 questions)

Please send a sticker or ‘Done ✅’ every time you finish your answer.

Have you got it? @tenfinance_admin

Mr Ten: let’s do it

Reginald: So, we will start now ^^

Segment 1: Introduction (5 questions)

1. Could you please introduce your project and your vision to us?

Mr Ten: Yes, absolutely…

TEN Finance is a yield optimizer, meaning we create vaults from multiple/different AMM/DEX’s and thus auto-compound these vaults for the users for higher “optimized” returns and also reward our users with additional TENFI tokens as a reward for using our platform.

Our motto since we started out on this journey has been, TEN Finance, Decentralized Finance, Simplified! And that is indeed our mission and I think that our vision is coming full circle with our YIELDEX vaults that we launched on 10/10!

We aim to become a vanguard in this aspect and thus lead the way into the simplification of the yield farming process, which we feel that we’ve done tremendously with the YIELDEX.

Thus far we’ve enabled our users to easily purchase TENFI tokens directly from our website, even though we’re not an AMM, create LP tokens with BNB or BUSD via our TENZap tool and soon enough, buying TENFI tokens directly with a credit card!

And thus our core values are etched into our “genesis” per se in that TEN Finance stands for Simplicity, Sustainability, Longevity and Security.

Reginald: Wow, really a worthy investment project.

Let’s keep moving to the 2nd question

2. Can you give us more details about your team and how do you work together?

Mr Ten: I am one of the co-founders of TEN Finance, and what seems to be now, the “face” of TEN Finance.

My background is in Wall Street for the early part of my career, one in which I started my career as an analyst for a family office that traded in commodities fixed income and FX. I then moved to a portfolio manager/head trader position and managed about $50M of a $500M Fund for our clients, which were mostly ultra-high net worth individuals and their families.

I then went off on my own and managed my own hedge fund for about 5 years or so prior to going into Fintech development concentrating mainly on mobile payments with cryptocurrency being the main focus.

During my trading days, my funds traded both discretionary and systematic programs I have since been involved within the crypto/fintech space since late 2015 or so having worked on several projects/startups in the crypto/mobile payments sector over the years which has now led us to DeFi and the evolution we’ve seen with TEN Finance.

Our other founding members come from the world of ecommerce, traditional brokerage services in FX/commodities, founding the first world video poker website and having developed online tracking and logistics management software prior to full integration into crypto and fintech.

Our dev team, over the years has contributed to several projects in the crypto space as well, thus having a deep and thorough knowledge base to choose from when we’re working on TEN.

We also have a great team of admins that help lead our online communities in the many languages we support as we are all global, we know that multiple language support is key.

Reginald: That’s amazing. I believe your team will go far in the future.

Let’s move to the third question

Mr Ten: Thank you, we do as well 🙂

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3. What are the services and products your project offers and what is the role of your token?

Mr Ten: Ok…this is going to be a long answer as it’s something that is very important for everyone to understand about TENFI

So for the longest time it seems like we’ve been working on the YIELDEX! We believe that it is the ultimate form of simplification for the yield farming experience to limit impermanent loss and to spread your risk in one click and under 10 seconds if that!

I wrote a post recently about the YIELDEX and what it does on medium, which you can read here but I’ll give you a breakdown of what it is and does.

*here: https://medium.com/tenfinance/ten-x-yieldex-1a5870b4b507

So the YIELDEX is basically the combination of the words Yield and Index, thus YIELDEX. Given we’re in the yield farming space, we felt the name was fitting and did exactly as we wanted it to do, simplify the process. YIELDEX is a pool of LP’s that you get to invest into with only having BUSD or BNB in your wallet, no need to create LP or buy tokens just for LP purposes, with YIELDEX, you choose the amount you want to invest, and the YIELDEX vault you’re investing in, will do the rest. We will have 3 types of vault, Stablecoins, Premium tokens (BTC, BNB, ETH etc) and High Yield, which will be more blue-chip and as the name suggests, higher APR’s and anywhere from 6-10 LP’s in each YIELDEX, we’ll soon be launching a Biswap version of the YIELDEX in the next few days

The YIELDEX provides for sufficient diversification while providing you with the simplicity of being invested in DeFi and earning robust yields within seconds!

Yield farming now is a cumbersome and long and sometimes annoying process, so what we did with YIELDEX is to literally cut down these time consuming tasks…

1. Buying each individual token

2. Creating each LP for each / supplying tokens for LP

3. Moving to the yield farm or optimizer to deposit your LP’s

4. Withdrawing your LP’s, one by one

5. Going back to the AMM to unpair your LP

6. Then selling unwanted tokens you bought just to farm the LP

7. Repeat these steps if doing more farming

As you see here, it’s a long and time consuming process! (in the background there are literally 100-200 transactions occurring with the creation of each YIELDEX deposit!)

The purpose of yield farming with the YIELDEX is just that, to farm for yields and not to worry about pairing, unpairing LP’s and then buying and selling unwanted tokens you got only for the purpose of yield farming in the first place!

From my own personal experience, if this goes beyond the couple of LP’s, you’re talking about possibly hours wasted on something that we reduced to less than a minute!

It should be noted that this is NOT an “index fund” where we buy the tokens and the value of the YIELDEX fluctuates due to price volatility of the constituents, there’s many of these around across both Ethereum and BSC running on the Balancer protocol, which resembles an ETF of sorts

YIELDEX is literally LP’s in the vault, the simplest way to yield farm multiple LP’s with one deposit!

Easy to deposit and withdraw with a simple click and thus reducing your risk to Impermanent Loss through diversification of the said LP’s, it’s basically a yield farming manager for you doing all the work of the yield farming process with a click or two!

Creating the YIELDEX is a key puzzle to our motto of Decentralized Finance, Simplified!

Pairing and un-pairing multiple LP’s with one click!

This now leads us to our TEN Lots!

The TEN Lots is a limited number of “lots” available for TENFI holders that will provide for them additional revenue stream through the deposit fees generated from the YIELDEX vaults! The TEN Lots reward TENFI holders with additional BUSD or BNB as income so long as they hold their TEN Lots and have sufficient TENFI!

While users of the YIELDEX benefit from the simplicity it offers them with regards to yield farming, the TEN Lots on the other hand, rewards TENFI token holders with additional revenue stream that rewards them for holding our native token!

word image 30

There are three tiers of TEN Lots, which can be claimed so long as you hold these tokens in an LP or our single token pool and is limited to 1 TEN Lot per wallet.

• Tier 1–2,500 TENFI (Bronze)

• Tier 2–50,000 TENFI (Silver)

• Tier 3–250,000 TENFI (Gold)

Creating the TEN Lots also develops a mutually beneficial relationship between TENFI holders and TEN Finance in that it incentivizes TENFI holders with additional revenue on top of auto-compounded LP rewards + TENFI rewards and now being compensated in BUSD or BNB from the TEN Lots and at the same time, helps TEN Finance by reducing the “need” to sell or reduce exposure to TENFI, a win-win solution for both, we give up majority of revenue from YIELDEX to give back to our users for their loyalty.

Again, I wrote a long medium post here if you want to read more

*here: https://medium.com/tenfinance/ten-x-ten-lots-ca9353da1379

Reginald: Wow, that is really detailed, and we believe that investors will be impressive by how great Ten Finance is doing as well 💪

4. What are the marketing strategies and programs you are planning to attract new users?

Mr Ten: When it comes to marketing, we are firm believers that we should have a solid product and to continue to organically grow our user base. Usually cross marketing campaigns raise some form of awareness for projects on either end, but after that, you need to capture that audience with something tangible and for us, we feel that the simplicity that we bring to the yield farming space is above all else…..

We’ve been doing several AMA’s of late with different groups and looking to gain their audience’s attention, as we are here with BARMY! We’ve also done a learn and earn campaign with BSC News recently, CMC airdrops, art contests as well as many giveaways to engage with the community….

Also, we’re always open to suggestions, so if you have any, let us know!

Reginald: Great. Here is the last questions of segment 1

5. What policies or plans are you having to take care of your community?

Mr Ten: Yes, the community …

I think for us, creating utility for TENFI has been the number one goal for us, and the TEN Lots do this for our holders.

The TEN Lots as I described earlier, give additional revenue stream simple for holding TENFI in our single TENFI pool or LP’s.

We’ll also be launching TENLend soon, a lending platform in which TEN Lots holders will further benefit from staking their TENFI tokens and TENFI holders also receiving additional bonuses for holding TENFI

Reginald: That’s cool!

So I will move to the next segment now.

Segment 2: Twitter questions (5 questions)

Reginald: We have chosen 5 best questions from our audience from Twitter

6. Do Token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project? @BadLayer4

Mr Ten: At this point in time, we do not have this in place, however it is something we plan on doing in the coming months for all upcoming releases for TEN Finance

However, we do take the recommendations of our community in high regard and thus have implemented many ideas from the community directly

Reginald: Let’s move to the next question from our Twitter audience.

7. I want to ask, Which one the most important for you in developing the community and increasing the value of the project? Which one that Will you do first? @Techkia7

Mr Ten: a great community will always add value to any project….

We feel that we’ve developed a great community and that in due time, this will translate into creating greater value for the project as it already has. We have a great core within our group and anyone that has spent more than 5 minutes will tell you this about us. We are now looking to continue to expand and grow our global community and we encourage everyone to join us!

🗺 https://t.me/tenfinance

🇨🇳 https://t.me/tenfinanceCN

🇯🇵 https://t.me/tenfinanceJP

🇹🇭 https://t.me/tenfinanceTH

🇫🇷 https://t.me/tenfinanceFR

🇰🇷 https://t.me/tenfinancekr

🇮🇩 https://t.me/tenfinanceID

🇻🇳 https://t.me/tenfinanceVN

🇵🇹 https://t.me/tenfinancePT

🇪🇸 https://t.me/tenfinanceesp

🇷🇺 https://t.me/tenfinanceRU

IT https://t.me/tenfinanceIT

word image 31

Reginald: Wow, we love them as well ❤️

8. How will $TEN Token solve existing DEFI problems like: gas cost, complex DeFi strategies, fraudulent projects? How $TEN Token can help increase your clients’ investments? @AaPutun

Mr Ten: there are many things we wont solve, but there are few that I think we already are doing…

I think what TEN Finance solves is the complex nature of yield farming…

In particular this is in reference to our YIELDEX vaults! We are launching new YIELDEX vaults and also will be launching a YIELDEX vault where the user can choose which LP’s they want to incorporate into their own custom YIELDEX as well, no date on this yet

With the YIELDEX we’ve given our native TENFI token true utility in that it will start to accumulate additional rewards in BUSD or BNB when you claim a TEN Lot based on your TENFI holdings

Reginald: Ten Finance is a pretty good choice!

9. Do you think we’ll see institutions start engaging with and adopting yield farming in the future? Where do you see TEN finance fitting in and leading the innovation and development of DeFi and NFTs in the very near future? @tanmoy284910957

Mr Ten: ahhh…going back to my old friends…

IInstitutions are definitely going to be adopting yield farming, think about it, my former clients were happy with 8-10% NET per annum, imagine if you can tell them they can get 30% on the Stablecoin YIELDEX! they’ll go crazy…so that’s something we plan on doing

So yes, I think they are looking into getting into yield farming, but looking for simpler solutions, and the YIELDEX is that solution

With our upcoming TENLend platform to go hand in hand with YIELDEX, TEN Finance will become the place to go for institutional type investors and in particular with our team’s background having had experience with this type of investors, we bring a professional and institutional level of service to all our users, regardless of size

Reginald: Wow, that is really detailed, and we believe that investors will be impressive by how great Ten Finance is doing as well

And here is the last question of segment 2.

10. The COVID-19 outbreak has affected every business in the world. Is your project affected by this? Is it in a better way or a bad way? @Raju_King4

Mr Ten: COVID-19 has been tough for everyone and my thoughts are with all those that lost loved ones due to this pandemic

For us, it literally just allowed us to be stuck to the screens, working, developing, coming up with ideas and interacting with the community at a deeper level

So in a sense, it could have been a blessing in disguise for all of crypto. For us, it made no difference, if anything, I think it made us a stronger project because of it

Reginald: It’s so nice

So, let’s move to the segment 3

We will open chat in 60s for community for our users to drop their question about Ten Finance

Kindly choose 5 best questions and answer be replying them.

Mr Ten: the fun part

Reginald: Kindly choose 5 best questions and answer be replying them.

I will open chat for 60s, and our audience will drop their questions related to Ten Finance!

Are you ready?

Mr Ten: ready when you are

Segment 3: Live Q&A (5 questions)

11. Is your platform suitable for crypto beginners? Or does it only limited for professional users ? @ChasParry1997

Mr Ten: yes absolutely our platform is suitable for beginners…we’ve made it easy to zap into an LP with one click and now with the YIELDEX, you can invest into multiple LP’s in matter of seconds with a simple click

12. What’s your main focus right now, are you focused on the community or market/Exchange or the products? @robertsarav

Mr Ten: our focus as always is on community growth along with development….as of this moment we’re focused on our next release, which will be TENLend which will allow us to further give into TEN Lots holders for more revenue

13. What is PROJECT’s revenue model? In which ways do you generate revenue/profit? @MirianCloutier

Mr Ten: the revenue model can be seen in our TEN Lots for our users, the platform itself will generate revenue sufficient to pay for expenses on a monthly basis, but at the same time allow for TENFI holders to earn even more passive income with TEN Lots, again, you can read more here

https://medium.com/tenfinance/ten-x-ten-lots-ca9353da1379

14. How does project increase the token’s value, liquidity and utility ? So that it can lead to an increase in token prices ? What is your plan to make your project stable and provide the highest return for investors in the long term ? @MaishaToro

Mr Ten: While I dont like discussing token prices in general, one would only have to read the YIELDEX model and the TEN Lots model to understand the incredible tokenomics behind it and what that means for the price of TENFI in the future…

https://medium.com/tenfinance/ten-x-ten-lots-ca9353da1379

https://medium.com/tenfinance/ten-x-yieldex-1a5870b4b507

15. ls it possible that we will see new single pools in the future? (To stack TENFI and win another partner token for instance) @Adambdj

Mr Ten: yes, this is something we’re planning on doing in the future, however, I think priority for us with the YIELDEX now out of the way is to move onto our next release….which is the TENLend platform, which will add more benefits to TENFI holders through TEN Lots as well as additional fees they will generate from the lending platform itself

Reginald: Congratulations on successfully completing the hardest part of each AMA session, which is interacting with investors and the questions they want to know.

This is the end of our AMA today. 😊

Mr Ten: wow that was hard!

Reginald: Thank you for joining us, it is our pleasure to have you here today, @tenfinance_admin

Do you have anything to tell to BSC Army community?

Mr Ten: thank you so much for having me today @ReginaldBarmy it’s been an absolute pleasure, I guess the only thing i’d say is that if anyone has any questions or needs anything

follow us on social media and join our telegram group

t.me/tenfinance

twitter.com/tenfinance

otherwise, it’s been a pleasure 🙂

Reginald: Thank you again for being here today. Have a nice day! 😁

CONCLUSION

Up to now, CoinSwap has had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.

Disclaimers: Writers’ opinions are solely their own, and do not constitute any financial advice, investment advice, or trading advice.

BSC Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate.