TL;DR
Tenderize v2, after 18 months of meticulous research and development, stands at the forefront of the Liquid Staking revolution, heralding the era of Liquid Staking 2.0 featuring validator specific liquid staked tokens (LSTs) and a shared liquidity pool model. This article delves into the journey of Tenderize v2 and its profound impact on the staking landscape.
Tenderize Ethos and The Cookout
Tenderize v2’s validator specific LSTs, called tTokens, serve as permissionless white-label liquid staking infrastructure. tTokens are easily composed into aggregators and are highly synergetic with restaking or Distributed-Validator-Technology (DVT). By building Tenderize v2 as an almost enshrined liquid staking experience, tTokens are the first truly credibly neutral infrastructure for liquid staking.
Our mission is to prove that liquid staking can be achieved without sacrificing decentralization. This infrastructure positions tTokens as the foundational asset of all liquid staking activity. This includes capturing market share from custom LST indexes, LSTs being used collateral in DeFi or used in liquid restaking (LRT) protocols. We invite you to a 3-month mainnet launch cookout party to kickstart this exciting journey.Tenderize v2 will launch at the end of January, 2024 in two distinct phases.
Cookout participants are leading the Liquid Staking 2.0 revolution - Those who join this revolution will be remembered as pioneers responsible for ushering in the first credibly neutral liquid staking protocol. This revolution will be directly responsible for defending the censorship resistance and decentralization of proof-of-stake blockchains.
Phase One - The Cookout: A Mainnet Launch Celebration
As we near the end of January 2024, Tenderize v2 prepares to unveil its first phase - The Cookout. This phase is not just about bootstrapping tToken TVL and TenderSwap liquidity; it’s a festivity of potential and opportunity. Users will be able to engage in this phase by staking MATIC, LPT, and GRT to their validator of choice! Participants won’t just earn yields; they will be collecting exclusive 'HATS,' which symbolize their role as pioneers in this new era.
Phase Two - The Feast
This phase is the token generation event (TGE) of WAGYU, the governance and utility token of the Tenderize ecosystem. WAGYU will be airdropped to users relative to how many hats they’ve collected. After the airdrop, WAGYU will continue streaming to stakers for 33 months to further distribute governance power to the community and incentivize liquidity for new tTokens added to Tenderize v2.
Prepping For The Cookout
Starting now, users can start preparing for the cookout by completing various tasks. By doing so, participants can best position themselves to collect as many hats as possible, resulting in the largest possible share of the future WAGYU token during TGE.
Tenderize V1 Airdrop
Anyone who interacted with Tenderize v1 earned a retroactive airdrop of hats. If you were holding tTokens at any point since v1 launch, you have an airdrop waiting! Check your eligibility here.
Social Quest
Follow Tenderize Labs official social media accounts and join the discord - confirm these actions via QuestN to earn even more hats.
Acquire Tokens
Unstake your assets or acquire them on an exchange. To collect the most hats, stake early. Unstake and/or buy the necessary tokens here.
Mint Invite Code
During the cookout, attendees can invite friends to earn even more hats. When a friend deposits into Tenderize v2 through your referral link, you will earn bonus hats.
The Cookout Begins - Mainnet Launch
On January 29th, users will head to app.tenderize.me and stake MATIC, LPT or GRT to the validator of their choice. By staking through Tenderize v2, the protocol will mint tMATIC, tLPT or tGRT. These LSTs are validator-specific, meaning the performance of the LST is directly related to the performance of the validator selected by the user.
Once a user mints their tToken, they are automatically collecting native staking yield and exclusive hats.
Hats Distribution
Hats will be distributed relative to the value of MATIC, LPT or GRT deposited into Tenderize v2 during the cookout. Each dollar of deposit value has a fixed value of points associated with it.
Leaving The Cookout Early
Stakers always have the right to leave the cookout by unstaking or swapping out of their position.
Unstake: To unstake 1:1, the depositor is subject to a penalty on hats they have accrued. Once the unstaking process begins, the assets will be unstaked 1:1 after some withdraw period which depends on the underlying blockchain network.
- Polygon: 2 days
- The Graph: 28-56 days
- Livepeer: 7 days
Swap: Users can always swap their tToken for its unstaked counterpart on TenderSwap. Once swapped, the user will stop earning native yield and exclusive hats.
The Feast - WAGYU Token Generation Event
After initial liquidity and user acquisition, the cookout phase will conclude and the WAGYU token generation event will begin. At this point, WAGYU will become liquid and users holding hats will receive a generous airdrop of WAGYU relative to their balance of hats.
Collecting Hats (and future WAGYU) by staking or providing liquidity in Tenderize v2 is the shortest path to meaningful significant stakeholder in the Tenderize v2 ecosystem.
Relevant Links
FAQ
What is the Cookout? The Tenderize Cookout is Tenderize v2’s journey from launch to maturity, and comprises two phases that will see governance rights distributed to early community members.
What are Hats? Hats represent the individual participation of each user in the voyage. They will be redeemable for $WAGYU tokens at the TGE.
How do I earn hats? Throughout the duration of The Cookout, you can collect Hats by holding tMATIC, tLPT or tGRT and providing liquidity (LPing) in the TenderSwap pools. Learn more about how to stake and provide liquidity in our text and video guide.
How are hats distributed? Hats are distributed according to a predetermined daily budget. Anyone holding tMATIC, tLPT and tGRT or providing liquidity on TenderSwap are eligible for rewards. But inviting friends you can earn even more rewards if your invitees deposit into Tenderize v2.
How can I earn even more points? Most of the hat rewards will be earned simply by staking your tokens or providing liquidity in Tenderize v2. You can earn more by Inviting friends and having them deposit MATIC, LPT or GRT into Tenderize v2 through your referral link. If someone uses your referral link, you will receive bonus hats. You will receive a bonus allocation of hats that is a 15% personal bonus.
How do I invite my friends? By minting a custom invite code and linking your wallet at: https://www.tenderize.me/cookout
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