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Tenderize

Decentralized Finance Liquid Staking

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Tenderize Overview

What is Tenderize?: A liquid staking protocol where users can stake cryptocurrencies to receive staking rewards without locking their deposit or actively managing their investment. Users can earn compounding staking rewards, swap tenderTokens for the underlying asset, and earn liquidity farming rewards. Users get tenderToken, a 1:1 ERC-20 derivative of the underlying deposit, which can be freely traded on decentralized exchanges or used in DeFi apps. Tenderize currently accepts MATIC, GRT, LPT, and AUDIO deposits and crossed 1M+ in total value locked during September 2022.
Blockchains: Ethereum

Find More on Tenderize's Website

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Frequently asked questions

How does Tenderize work?

Tenderize is a protocol that pioneers Liquid Staking 2.0, which offers a new approach to protect against centralizing forces in traditional liquid staking. It enables liquid staking without compromising a decentralized validator set and aims to provide a staking experience that is as native as possible.

Tenderize utilizes TenderVaults, a protocol that mints tTokens, which are liquid representations of stake and rewards specific to one validator. These tTokens can be used for various purposes within the ecosystem.

Additionally, Tenderize features TenderSwap, an on-chain shared liquidity pool that allows for instant swaps between tTokens and the unstaked asset. This provides liquidity and flexibility for users participating in the ecosystem.

The Tenderize ecosystem is fully autonomous and owned by its stakeholders and community. All decisions about Tenderize are made on a democratic basis through governance. The community is composed of individuals and entities who interact with the protocol and care about its future and success. Privacy is respected, and members have the freedom to participate in the form they prefer while maintaining their anonymity.

Tenderize V2 is currently in the research and development phase, with Genesis Grants allowing early users to seed initial stake on Tenderize in exchange for incentives. The protocol is designed to be community-owned and operated, with automated core components and virtual levers that can be adjusted for certain ecosystem features. The WAGYU token exists to distribute decision-making power and prevent any single group from controlling the levers or the protocol's treasury.

What assets can be staked on Tenderize?

The assets that can be staked on Tenderize are MATIC, GRT, and LPT.

What are tTokens?

tTokens are validator-specific ERC20 tokens that are minted by the TenderVaults protocol in the Tenderize ecosystem. These tokens represent stake and accrued rewards and provide a liquid representation of the user's stake in a specific validator. Unlike traditional liquid staking solutions, where stake is funneled to a whitelisted set of validators, users have the freedom to choose which validator they want to stake to. To ensure liquidity for tTokens, Tenderize features TenderSwap, an on-chain liquidity pool that allows for instant swaps between tTokens and the unstaked asset. This approach to liquid staking, known as Liquid Staking 2.0, aims to protect against centralizing forces while maintaining a decentralized validator set and delivering a native staking experience.

How can I swap tTokens on TenderSwap?

To swap tTokens on TenderSwap, you can use the on-chain liquidity pool provided by Tenderize. Tenderize is a protocol that mints tTokens, which are liquid representations of stake and rewards specific to one validator. Users can stake their assets to a validator of their choice and receive tTokens in return. TenderSwap is an on-chain liquidity pool that allows for instant swaps between tTokens and the unstaked asset. By using TenderSwap, users can easily exchange their tTokens for the underlying asset or vice versa.

What is the value of the WAGYU token?

The value of the WAGYU token is directly tied to the growth and adoption of the Tenderize v2 ecosystem. It is a multi-faceted asset that aligns incentives between stakeholders. The token is used to incentivize behaviors that improve liquidity and continuously capitalize the system. Additionally, the WAGYU token plays a role in the ecosystem by staking towards Tenderize's validator-specific LST tokens, determining the allocation of each LST within an index. Users who stake and curate the index earn a share of the revenue generated by the index.