TENET is a Layer-1 DeFi blockchain network built using the Cosmos SDK, offering innovative features and solutions in the crypto space. It implements a consensus mechanism, Diversified Proof of Stake (DiPoS), and aims to provide a secure and accessible decentralized finance (DeFi) ecosystem.
Tenet utilizes a PoS consensus mechanism for network validation. Unlike traditional PoS frameworks that rely on a single staked asset for validation, Tenet introduces the concept of DiPoS. DiPoS leverages staked positions of major assets like ETH, BNB, ATOM, SOL, and ADA for validation, which enhances the network's security by diversifying the staked assets.
Tenet aims to create an inclusive ecosystem by allowing validation and delegation through various assets. Unlike standard PoS frameworks that require native tokens for validation, Tenet's model increases inclusivity by enabling using different assets for validation, thereby promoting economic activity within the ecosystem.
Tenet introduces native gauges that allow token holders to lock their tokens and vote. Gauge voting determines the distribution of rewards to Tenet validators and DeFi users on the network. Additionally, veTenet holders receive fees from various aspects of the Tenet ecosystem, making it an attractive L1 (Layer-1) token for perpetual yield.
TENET is the native currency of the Tenet blockchain and is a gas token used to pay transaction fees on the network. Validators can stake TENET, help verify transactions, produce new blocks, and earn staking rewards. TENET also serves as the network’s governance token, empowering holders to participate in its decentralized governance mechanism.