TruePNL x Teneo AMA Recap
TruePNL team is delighted and thankful to have hosted an AMA session with the Teneo team and had the opportunity to learn more about the project and the team.
Teneo — is a sustainable incentive-backed ecosystem allowing holders to earn passively while opening new arbitrage opportunities for those who seek short-term gains.
This article is a quick recap of all the questions asked during the AMA. We received a lot of engagement from our community who asked a lot of interesting questions which got really into the details of the project.
Read on to find out more!
TruePNL: Let’s begin with some introductions. Can you tell us a bit about your background and your role in the project?
Teneo: I am the lead developer and had the idea of Teneo. I joined the Blockchain community as a data analyst who wrote some “unconventional” alerts, like combining Uniswap listings with social media activities to filter scams, for trades for a small, familiar group of crypto enthusiasts, and collected some experience in different projects. Also, I have experience in embedded systems which is basically designing state machines. After the analytic part, a deeper dive into blockchain technology and the idea about Teneo, it was a logical step to start this project.
TruePNL: What is your project’s main target for Teneo this year for 2022? What is your vision and mission in your marketing?
Teneo: Creating a solid user base and a solid ecosystem for the future. If the question is aimed at future integrations the most exciting things are: going cross-chain and adding the governance functionality.
The vision behind Teneo is that bad traders and mid/long-term holders like me can just invest and lean back. To bring that opportunity to them. The mission in marketing is to constantly find new ways to make people aware of Teneo and of course we already calculated a good amount of marketing in our budget.
TruePNL: What do you think is Teneo’s advantage over its competitors?
Teneo: The point is there are no direct competitors. There are different tokens out there where the transaction fee is redistributed to the holders of the token. But these projects have their own price. Also, there are projects out there that buyback e.g. ETH, and redistribute that to the holders.
The point is there are no direct competitors. There are different Tokens out there where the transaction fee is redistributed to the holders of the token. But these projects have their own price. Also, there are projects out there that buyback e.g. ETH, and redistribute that to the holders.
TruePNL: We all talk about positive points/pros/good points & features of any project, but rarely does a project tell about its shortcomings. Can you tell us honestly the cons & lacks of Teneo as a project?
Teneo: Of course, the pegging itself is kind of a pro and con at the same time. You gain by hodling tenXXX token reflows of the tenXXX. If the price of XXX crashes extremely even the reflows can’t make you profit. So keep that in mind. But in the end, you still have more than if you would just hodl the XXX token. Also, we focused on big caps, in the beginning, to take care of that.
TruePNL: How are you going to scale if your project becomes very popular?
Teneo: The mechanism of redistributing transaction fees is a way for any project to integrate staking without the need to fund that staking. The rewards are coming from the transaction fees. That also means that the available supply of the underlying token is decreasing if enough people join that staking pool/token. TenXXX tokens are like deflationary staking in a token. So many projects out there should have an interest in Teneo and a tenXXX version of their token. Teneo is because of that and the reflows, in my opinion, the best way to longtime hodl a coin. Which is a good argument to promote Teneo for other projects. So we counted that already in with a buy-back function that is growing with the adaption of Teneo. The more tenXXX tokens are there the more buybacks happen.
TruePNL: Many investors hold the token for the short-term without understanding the long-term value. So, how can you ensure for us that holding this token is more beneficial for the long term and what is your plan to increase the demand and scarcity of the token?
Teneo: As I said, we are implementing a buy-back function that uses a small amount of the transaction fees of any tenXXX token. In the end, the ecosystem will grow and the buybacks also. That is a pure monetary argument. On the other hand, for the people who are in for the technology, we are not done with implementing new functionalities. Like Lending/Borrowing, cross-chain, DAO, NFTs, etc. I think we have some nice announcements planned for the future of Teneo.
TruePNL: Implementing a feed-based system every time someone transacts with a tenXXX Token may not be sustainable. What if there are not enough users to do the transaction?
Teneo: In the end, it doesn’t even matter for the tenXXX holder or liquidity provider if she/he is the only one who holds the tenXXX token. As long the price of the XXX is moving there will be arbitrage traders who can profit from trading tenXXX.
As long it is profitable there will be someone who does it. And 1% of the transactions these traders do will go straight into the wallet of the lonely tenXXX holder.
TruePNL: Part of Teneo’s ecosystem is its Arbitrage-Bots. What is the role of these Arbitrage-Bots in Teneo’s platform? How are they helpful for Teneo’s users and investors?
Teneo: We do not offer arbitrage bots on our platform (for now). Teneo provides the opportunities. But we know there are already some bots set up for the launch. Also, we may make something like a public hackathon so even noncoders may just download a solution for that.
TruePNL: How exactly does the tenXXX token work? Would you be able to describe how it operates?
Teneo: Sure, tenXXX tokens are the wrapped version of any given XXX token. Let’s say $PNL. You can mint tenPNL for PNL. The ratio will be near 1:1. The tenPNL token has a transaction fee so it is not exactly 1:1. These transaction fees are redistributed to all holders of tenPNL and a part of that to L stakers of tenPNL pairs.
Now let’s say PNL pumps 100% — then the tenNL liquidity pools have also to go up in price because arbitrage traders can buy tenPNL for cheap price at PancakeSwap pools and change it back to PNL and sell it with profit (or just hodl the cheap tenPNL). Of course, that also works the opposite way. And the best of all: Using tenPNL would also raise the price of PNL because you need to take away available supply to mint tenPNL, which means Teneo adds a way of staking to PNL. Without the need to fund it and it is kind of deflationary for truePNL.
TruePNL: Do you have any upcoming collaborations with large platforms or the introduction of new tokens on stock exchanges?
Teneo: We are in talks with some platforms. And yes a tenXXX version of a tokenized stock is very interesting. But can’t say anything more right now, only that we really thought about.
TruePNL: Tell us more about the dApps that are featured on your website? Will other developers also be able to develop an application or something similar? Where and how can users buy your Teneo token and tenXXX token?
Teneo: Right now you can check it out on the testnet.
Guide for the Teneo Testnet can be found here.
You can already swap BNB, BUSD, tenBNB and tenBUSD on the testnet. Also, our staking UI is ready to use where you can currently also stake testnet LPs. There is another dApp where you can compound your tenXXX rewards in your wallet. That is needed if you do not transfer tenXXX tokens or receive them. So Liquidity Pools are auto compounding. Not public right now is our NFT implementation but we already testing it, just not public. Also if you are a developer reading that and have ideas about Teneo just contact the Teneo team here. On 22.02.2022 we will add liquidity on DEXs. Also, we will deploy/activate the mainnet contracts for tenBNB and another stable coin which you can vote for right now in our main chat. Also, we will reward liquidity providers for the tenXXX tokens so you can also buy/sell them on DEXs.
Teneo is right now available on different Launchpads. I would recommend TruePNL!
We sincerely thank the Teneo team for a fantastic AMA event and thank all users for submitting their questions.
The AMA winners are the following Twitter handles:
@hauhau1166, @Lunauu607708586, @trathoa, @Jackson30190553, @chernobylfiasco, @GameFi11, @RyzenGrad, @letunyasha, @Lopyou54804819, @RamsayBoltan
Each winner will receive $300 in $TENEO between them. Congratulations!
The Whitelist for Teneo is currently open, but closing today! Hurry to join while it is open!
✅ Follow the link and join:
https://launchpad.truepnl.com/whitelist_project/22
The sale guide and details can be found here.
Teneo Official Channels:
Website || Telegram || Twitter || Discord
TruePNL Official Channels:
Website || Telegram Chat|| Twitter || Telegram ANN || Blog
