CoinMarketCap takes a deep dive into a new project that aims to bridge the gap between the traditional financial market and cryptocurrencies.
Tenset is an emerging blockchain project that acts as a bridge between the traditional financial market and cryptocurrencies. Tenset (10SET) is taking advantage of our unique position in time as we enter a fourth industrial revolution, as they describe. New technologies, like blockchain, DeFi, and the internet of things, are all becoming attractive to enterprises that wish to be the first-movers to provide their customers unique solutions. However, it often takes a long time to iron out the issues, like government regulation.
How Does Tenset (10SET) Solve The Problem?
Tenset acts to speed up the adoption of blockchain and crypto by bridging traditional finance with the new technology. They are seeking to provide blockchain benefits to companies, like Visa and Oracle, that are already well established in the traditional world. The 10SET token also acts as a deflationary coin that will provide users with more value over time. It uses a portion of every transaction fee to reward users with more tokens that are directly sent to their wallets.
Who Created Tenset (10SET)?
The project was founded by the current CEO, Jonasz Miara, a blockchain entrepreneur and avid investor since 2014. The core team is also all doxxed and visible on the team page of the website. The growing team has developers, sales personnel, and legal compliance personnel helping the project expand and support more users.
Tenset was launched in the first quarter of 2021 and is in the beginning stages of an ambitious roadmap that aims to end the year with loan offerings, automated stock market dividends, and promotion of the project to more institutional investors.
10SET Price
The 10SET token’s price grew from $0.70 (price during the launch) to over $6.00 at its all-time high (ATH) before the crypto slump in late May 2021. It now has a current price that is hovering around the $2.00 mark. It is unclear how much the token will grow in terms of price and value, but its deflationary mechanism will likely drive the price up quickly.
When Will 10SET Hit $10?
10SET token is gaining more popularity, considering it launched at the beginning of this year. A number of factors, including the total supply of tokens, community strength, and the team’s ability to achieve goals laid out in the roadmap, will contribute towards the upward or downward movement of 10SET’s price.
How Does Tenset Work?
Tenset is a fairly unique project that has both problem-solving implications as well as attributes commonly seen in value-building cryptos. The token acts to provide more incentives for investors to hold it, by giving them opportunities to stake and earn rewards just by holding it in a wallet. The smart contracts built into the Tenset network add a 2% fee to every transaction. This fee will directly benefit those who hold 10SET tokens in two ways:
- 1% of the fee will be automatically distributed to those who hold 10SET
- 1% of the fee will be burned, or removed from circulation, improving its scarcity and value.
Tenset also works as an ETF 2.0 provider, meaning they will invest funds earned from investors in a mixture of both crypto and traditional stocks. They will purchase shares of companies, like AT&T and Coca-Cola, while also investing in Polkadot and Bitcoin. This will give them a greater amount of exposure and less risk and volatility when compared to crypto alone.
The third phase of the Tenset project will position them to integrate with the stock market and traditional finance, fully. They will also build APIs so other projects can provide a bridge for their users. The end goal is to fully bridge and mix the cryptocurrency world with the stock market and traditional payments tools, like Visa.
What Makes Tenset Unique?
Tenset is a unique project that will provide users a real-world value when they dedicate a part of their crypto portfolio to holding 10SET. Tenset seeks to finance itself with the token as it reinvests funds into other crypto projects as well as traditional stocks in companies with very low volatility. This will provide a more stable operation for both institutional investors in Tenset as well as everyday 10SET coin holders.
This is one of those projects that are seeking to bring old-world finance along for a ride in the innovation of blockchain and cryptocurrencies. Bridging these two systems could lead to a better reputation for crypto as a whole and bring a larger audience into the fold.
How Does Tenset Stack Up?
It isn’t difficult to find new use cases for cryptocurrency, but finding good applications can be. Tenset is providing a new and unique solution to both user incentives, volatility, and integration with existing models of finance. It is anyone’s guess as to whether the project will succeed in the long term or meet barriers with regulation and adoption. However, it seems to bring sound principles and exciting new tools to the crypto space.
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