Playground of the Week: TEN

Hi babies, how y‘all doing this week? On this lovely Sunday, BabySwap brings babies Playground of the week — TEN.

We all know that Playground is the wonderland for BABY. You can use BABY to play and earn at our friend’s house. There are various types of games, prediction, vaults, payment, NFT minting, yield farm, etc for you to explore.

For Playground of the Week, we will introduce a glowing project from BabySwap playground every week. Guess who’s baby’s favorite?

Let us welcome the selected project this week — TEN.

Introduce by Baby

TEN stands for Token Enrichment Network and it’s a yield optimizer that simplifies staking and yield farming by auto-compounding your LP’s and tokens across multiple Binance Smart Chain farming ecosystems. TEN provides a robust yield earning environment on the market while committing to simplicity, sustainability, longevity and security.

TEN is Decentralized Finance, Simplified!

Learn more about TEN.

Website: https://www.ten.finance/

Twitter: https://twitter.com/TENfinance

Telegram: https://t.me/tenfinance

Medium: https://medium.com/tenfinance

Play with Baby

You can stake BABY-LP in TEN and earn more juicy rewards. Besides our cooperation, we’d love to introduce more projects to connect with TEN in order to add more scenarios to empower their tokens. Growing together with the help of BabySwap and BabySwap Friends is a way to the moon!

Chat with Baby

Our baby invited TEN to the house and chatted a little bit, here’s the record!

1. What are the main advantages of TEN for the user, compared to the similar projects?

I think our long term vision gives us an indefinite advantage over many projects which historically had a short rewards emissions schedule, therefore scrambling for ways to provide utility for their native tokens and more importantly, provide value for the token holders. We feel that crypto and in particular DeFi is the future of money and banking, therefore we bet on it from the beginning. Therefore, I think that our commitment to simplicity, sustainability, longevity and security is key for us and this goes along with the innovative thinking of how to simplify defi 1 click at a time!

2. What is your security strategy? How do you protect your users, their funds and data?

Security has been a pillar of our motto since day one along with simplicity. All of our contracts/strategies/farms are derived from previously audited contracts with just minimal changes to reflect our project and anything new, like the YIELDEX, was fully audited by a third party auditor.

We’ve had 3 total audits, 2 by Certik, which one was pre-launch, citing our commitment to security and the latest one for the YIELDEX, which we also just announced a $100,000 Bug Bounty through Immunefi.

Since we are simply a conduit to the BSC network through our site via web3, there is no user data that is at risk or in need of protection.

3. What’s your roadmap for the next couple of months?

You can check out our Roadmap here (https://tenfinance.gitbook.io/faq/protocol/roadmap)

In the near-term we have TENLend, our lending platform in which will further incentivize TENFI holders via our TEN Lots coming up that we’re working on, TENSwap, which will allow us to tap into the BabySwap AMM liquidity pools and going multi-chain is a real possibility as well!

As the crypto market moves so fast, knowing this also allows us to deviate from the roadmap as needed to ensure that we evolve and adapt with the space.

4. Tell me a little more about your latest feature.

This is going to be a long baby, you ready?

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.

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

a.Approving each token

b.Enabling each token

c.Supplying each token

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 60–100+ 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!

5. Why did you decide to cooperate with BabySwap?

We wanted to work with other projects that have similar drive, energy and most importantly, ambition as us in continuing to improve and strive to higher levels! And we feel that working together, in a collective manner with the BabySwap team, we’ll be able to do great things together and take the next step in this ever evolving crypto ecosystem. Seeing as to how much BabySwap has grown and evolved over the last several months, we hope to be able to grow together with them as they move into new spheres of the crypto ecosystem and we’ll see how else we can get involved with Babyswap and how to integrate into the Baby Metaverse!

6. What do you hope to see next for BabySwap?

I think that in the current ecosystem and BabySwap’s inclination of working with all projects in allowing them to have a Farm is a big deal! And with the current cycle of GameFi/Metaverse projects being in full speed, when their users start to want additional sources of income on top of their P2E earnings, they will come to BabySwap and in turn hopefully to us through our partnership of the YIELDEX for BabySwap vaults, then I think it’s an ecosystem that BabySwap can take over.

Continued growth is also something that we hope for BabySwap as we’ve been so used to!

BabySwap has just barely started to crawl, can’t imagine where BabySwap will be when fully running! Very exciting times ahead for the team!

7. Are you going to have any other cooperation with BabySwap? What are they?

Absolutely!

We are launching a BabySwap version of the YIELDEX! And since Babyswap nurtures the newer/hottest projects in crypto, we’re going to start with a blast and what’s hot right now, which is GameFi! So we’ll be launching a BabySwap GameFi YIELDEX and soon after that we’ll be launching two other ones as well in the coming days!

8. Say something nice to the baby!

Hi Baby! I have 3 babies of my own!

BabySwap Playground welcomes more projects to join, and is committed to bringing more use cases and benefits to babies.

Guess what’s the glowing project next week?

Let us all play with the baby!

Principal’s Note

🍼Twitter

🍼Telegram

🍼Discord

🍼Docs

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A supportive Baby MetaFi including AMM, NFT, and GameFi for newborn projects on BNB Chain.

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BabySwap

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A supportive Baby MetaFi including AMM, NFT, and GameFi for newborn projects on BNB Chain.

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