Tendies goals to be the next-generation autonomous and hyper deflationary cryptocurrency. Tendies, has known as itself the “Dogecoin of the DeFi age,” and has just lately launched its Uniswap pool in July 2020.
Oddly sufficient, the time period “tendies” truly refers to rooster tenders, and is also referred to the imaginary prizes that may be redeemed for cash comprised of speculative investments.
Tendies is an introduction of a deflationary foreign money, which is uncommon to search out with nationwide fiat currencies. Nevertheless, dangers stay on this nascent business as a person has exploited the deflationary STA token on lending protocol Balancer to steal over $500,000 in funds.
Tendies at the moment has a market capitalization of over $348,000 and ranks 1532nd when it comes to market cap, in line with CoinMarketCap. Tendies (TEND)’s all-time excessive worth was $3.05 on Sept. 11, 2020, however has plunged to buying and selling at $0.048 at press time. Tendies (TEND) return on funding (ROI) 12 months so far is -93.15%.
The origin of the Tendies crypto
Though the origin of the Tendies (TEND) cryptocurrency stays unclear, however there’s a robust connection to 4chan’s imageboard, which has been selling TEND.
The time period Tendies has been fashionable amongst Robinhood merchants on the subreddit r/WallStreetBets, a discussion board the place memes are shared about buying and selling.
The way it works
Tendies began with a complete provide of 9 million tokens, and the TEND tokens are repeatedly transferred from a liquidity pool on decentralized trade (DEX) Uniswap to a pool on the Tendies web site. The TEND tokens have been generated utilizing funds collected throughout public presales in mid-July 2020. The speed of TEND being transferred on a regular basis is 4 p.c.
A person can then request a command to empty the pool, which in flip, the person would obtain 1 p.c of the pooled tokens. 51 p.c of the tokens are then burned, and 48 p.c of the tokens remaining are added to the “Tendies Bucket.”
The Tendies Bucket is distributed to the highest holders of the TEND tokens each three days. Though solely the highest holders are certified for these bonuses, the precise quantity is but to be revealed. As the availability of TEND is diminished from the pool from Uniswap and is burned afterward, logically, the TEND token worth would steadily enhance.
Tendies funds are usually not accessible by any workforce member on the workforce, with the launch of Uniswap V2. A wise contract has been deployed to make sure that nobody can management any TEND tokens. The liquidity pool funds initially have been supplied by presale funds.
Tendies’ disclaimer expresses that the venture is a social experiment and that dangers are all the time current when buying TEND, very like the remainder of the cryptocurrency market.
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