Crypto Society Ama Recap with Teneo- 9th December 2021

With int(0.0) — Teneo

TENEO is a multi-layered yield generation protocol based on the trading of pegged-tokens. Users can swap tokens for their ten-tokens counterpart and start earning fees generated from trading activities. Traders and arbitrageurs can earn from price deviations between ten-tokens. Liquidity providers for ten-tokens earn TENEO, the token powering the protocol.

Bilo | Crypto Society

It’s our pleasure to have you with us today. I would like to welcome you here on behalf of our entire community.

int(0.0) | TENEO

Thank you so much! It is a pleasure to be here.

Bilo | Crypto Society

Could we begin with a brief history of yourself and your team, and your roles at Teneo and what you were doing before Teneo ?

int(0.0) | TENEO

Sure, I will try to keep it short. We are a core developer team of three persons. Of course there were some freelancers who also helped us out.

Overall ~8 devs worked on this project. But, I will stick with the core team.

I am the lead dev and had kind of the idea for Teneo. Before I started working on that project I had my experience collected in the Blockchain space by programming analytic tools and I also founded a company in this field. Additionally I do some crypto stuff for a small community where I also got in touch with the CS founders. Before that I studied embedded systems and worked in this industry for some time. For people who don’t know what “embedded systems” are, it’s hardware designing/state machines where the basics are very similar to the blockchain technology.

Our youngest dev is a mathematician and software developer who worked mainly as a full stack web developer before he got into crypto. He now uses his expertise to build the Teneo dApps and handles the web3 integrations for the website. He also works at contracts development and is a very meticulous person. Code review is invented for him — I mean his variables are sorted alphabetically.

The 3rd member of the core team is one of the founders of web-based databases back in the 90s. As an old hand in the digital business he figured out what is needed the most, so he mainly does the marketing and has an eye on our development process. Sometimes he helps out on topics like server structure etc. One time a geek every time a geek.

Also on the Business Developing part and Marketing we get help from Luis and Nicole. I don’t have to introduce them I guess.

We have some other Advisors as well, the biggest is Ferrum, which is also helping with everything that is needed. Marketing, Partnerships, legalities.

Bilo | Crypto Society

Thanks for the awesome background!

Quite the team!!! Congratulations.

I’m curious; How and where did you first encounter crypto?

int(0.0) | TENEO

The first time was when I was still studying. I held a presentation about Bitcoin and made financial advice to buy at ~40$ … Yeah I mean you know how it is. I was young and did not follow my own advice … Partying was more important…

Since 2019/2020 I have taken a look at the Blockchain space. Since then I have not stopped and won’t make the same mistake twice … Also I met Luis the first time there back in the beginning of 2020.

Bilo | Crypto Society

Tell us the truth, how many BTC did you buy at $40?

int(0.0) | TENEO

0

Bilo | Crypto Society

int(0.0) | TENEO

It still hurts….

Bilo | Crypto Society

Can you tell us about why you thought Teneo needed to be built and what problem it solves?

int(0.0) | TENEO

I am a big fan of the AMPL mechanism to build a fair monetary system. Just then I realised it is not written in stone what a supply or a wallet balance exactly is. It was eye opening even when it is obvious … smart contracts are just code which you can define how you want, especially in turning complete machines like EVMs. You can define it on your own as a coder.

Later RFI came out. It’s, I guess, the first transaction fee redistributing a token. I was flashed by that because why not let traders pay a small amount of their gains to holders? But I realized fast that by only having that as an USP it does not mean anything. The most taken transaction fees was after a while from traders who sold and so you can’t redistribute enough to at least equalize the dump resulting from that. But what happens if you took this mechanism to a wrapped/pegged token like WBTC? That’s basically the idea behind the tenXXX token. A combination of RFI and WBTC.

Bilo | Crypto Society

I have to be honest. AMPL made me cry through many nights but I didn’t understand it and its power at the time LOL. Your concept is very interesting and innovative. Congrats.

int(0.0) | TENEO

Thank you. (I never sold AMPL btw. some nice airdrops happen xD)

Bilo | Crypto Society

How did Teneo start and how did you choose the name?

int(0.0) | TENEO

The first step was to clone RFI and just deploy it. But the fractional implementation does not fit into the pegged-mechanism. So I rewrite everything! :D The name of Teneo was from an early adopter. To be honest I wanted to call it “Participate” and pXXX like pETH. But I guess the Latin word for “hodl” is not that bad too.

Bilo | Crypto Society

Brilliant.

How would you describe Teneo if you were talking to someone unfamiliar with digital assets?

int(0.0) | TENEO

It is like holding shares of an exchange. Every CEX takes takers and makers fees on trades. tenXXX tokens do also, but YOU get them back as tenXXX holder.

Bilo | Crypto Society

Tell us about the audits your code has been subjected to.

int(0.0) | TENEO

A very early stage was made by VertiK to prove the concept. The point is that most audit companies just review the code and do no tests. To be very sage we got the connection from Ferrum to Zokyo. They are one of the few audit companies which actually write tests. That was very important to me because you know how it is if you write something by yourself you are not the best to prove it.

Also the main Token “Teneo” (not the tenXXX) was audited by Hacken.

Bilo | Crypto Society

That is extremely valuable. Great decision

What chain is Teneo built on and why did you make that choice?

int(0.0) | TENEO

We will start on BSC. But will focus on going multichain very fast and adding ETH, FTM, MATIC, … just EVM based chains. The decision was made earlier this year based on gas costs. Let’s hope ETH 2.0 will fix that. Because there are some more calculations in the tenXXX token than just the amount X subtracted from balance A and add to balance B.

With time and solutions there come other non-evm based chains.

Bilo | Crypto Society

Yes — let’s hope for the gas issues to get fixed soon.

What is the Teneo token used for? Can you describe the Tokenomics?

int(0.0) | TENEO

It’s the reward Token. The tenXXX tokens are living from liquidity pools to open arbitrage opportunities. The liquidity providers can farm Teneo on our staking platform. To not just get dumped, we build in buy backs from the tenXXX tokens from an included DAO fee and redistribute them over a long period. So the more tenXXX tokens out there and the longer the ecosystems run, the lesser is the available supply.

Also we have an NFT dApp where you can mint NFTs for Teneo and also take back supply. These NFTs will get some nice utilities in the future ;)

Bilo | Crypto Society

Seems kinda obvious now after your explanations above but Is Teneo disruptive? and if so how so?

int(0.0) | TENEO

Using redistributed transaction fees is a very fair model for traders, hodler and projects in general I guess. Which has the potential to reform the mechanism how assets work like stocks work.

Bilo | Crypto Society

Tell us about your NFT’s and how they will work

int(0.0) | TENEO

Can’t/don’t want to tell too much right now. But for the beginning: They will be generic space romans with 5–10 traits. Do you like a redhead? Try to mint it ;) It is randomly generated.

As a next step we will add a tier system. Starting with plebeians, but you want to join the roman space army? Get some Teneo swords and Plebs and train them.

Bilo | Crypto Society

What are you currently working on and can you describe your future roadmap?

int(0.0) | TENEO

Right now we are preparing the launch. The next features beside the NFTs are vault, DAO implementation and some special staking. Also permissionless tenXXX factories.

Bilo | Crypto Society

What coins do you now have on your LP menu?

int(0.0) | TENEO

We will start with tenBNB and a stable coin, which will be voted by the community. So at the beginning:

tenBNB:XXX

tenBNB:TEN

tenXXX:TEN

tenXXX:BNB

XXX means in this case the stable coin.

Bilo | Crypto Society

What other coins are contenders to be added LP on the platform?

int(0.0) | TENEO

We want to expand the system to any coin you can imagine (evm based right now). So basically think of your favourite coin: tenXXX LP pool.

Bilo | Crypto Society

Noice

If there was one thing you could hope to see Teneo achieve next year, what would it be?

int(0.0) | TENEO

Top50 coins as ten-version. And everything else I talked about :)

Bilo | Crypto Society

I’m sure you will succeed 🙂

Do you wish to let us know anything else that was not covered in the questions above?

int(0.0) | TENEO

Yes, I would like to describe the tenXXX functionality a bit more …

These transaction fees are redistributed to all holders and a part of that to LP Stakers of tenETH. As I described before: let’s say ETH pumps 100% — then the tenETH liquidity pools have also to go up in price, because arbitrage traders can buy tenETH cheap at the PancakeSwap pools and change it back to ETH or just hold the tenETH… Of course that also works the opposite way.

And the best of all: Using tenETH would also raise the price of ETH because you need to take away available supply to mint tenETH, that means Teneo adds a way of staking to ETH which is

1. costs the ETH (bad example here ;)) project nothing, because the rewards are generated by the transactions.

2. It’s kind of deflationary without burning ETHs.

Bilo | Crypto Society

Great explanation!

With this, we will open up the chat for those who wish to personally thank you for your time with us here today.

int(0.0) | TENEO

I have to thank you! Love this group :)

Bilo | Crypto Society

This group is already falling in love with you :)

Julius

@CryptoEnthuh

Thanks for all the insights at first 😊

You said “it is like Holding shares of an exchange”

So could you please elaborate what are ae my advantages holding Teneo and TenXXX over holding normal exchange tokens?

int(0.0) | TENEO

It’s kind of safe that POLYDOGE will be a very early thing. But we are open there and let the community also decide about that.

TONEY Bear Gem Hunters 🌱 The LightHouse

Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product?

int(0.0) | TENEO

Yes! If you have any idea to improve the system at all just tell us. We try to implement them. Also if there is something about the usability of the dapps… just tell.

Did I tell you that the testnet setup is open?

app.teneo.finance/swap

puzzle123

As I see you already announced strong partnerships and I am sure you already have more in mind. Can you tell us some information about planned cooperations and what they may be about?

int(0.0) | TENEO

Lending and borrowing are something we really want to implement with a partner. As you can imagine tenXXX tokens are the best collateral you can think of (getting more over time in your wallet/smart contract and lower rates).

Marcel Pongs

Can you give any hint about launch date?

int(0.0) | TENEO

We are aiming for December. But, waiting for a big surprise right now.

Bilo | Crypto Society

Thank you for your time in answering our questions here today. We are all very appreciative of your time and of the answers you have provided.

👉Relevant Links

⚜️ Teneo Website: https://teneo.finance/

⚜️ Teneo Telegram: https://t.me/TeneoFinance

⚜️ Teneo Twitter:https://twitter.com/TeneoFinance

⚜️ Crypto Society Chat: https://t.me/cryptosocietyy

⚜️ Crypto Society Announcements: https://t.me/CryptoSocietyyy

⚜️ Crypto Society Twitter: https://twitter.com/cryptosocietytg

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