TEN announces it will be the first L2 solution to introduce selective local revenue

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Bitget2024/05/14 11:03

PANews reported on May 14 that according to official news, the Ethereum L2 network TEN announced that it will become the first L2 solution to introduce opt-in native yield. This function is implemented based on the pledger liquidity release protocol Ion Protocol. Any assets supported by Ethereum, from LST to LRT, can be bridged to TEN and enjoy re-pledge interest rates and additional benefits.

Obscuro Labs, the developer of TEN, completed US$9 million in financing in March this year, led by R3, with participation from Republic Crypto, KuCoin Labs, Big Brain Holdings, Magnus Capital and DWF Labs. TEN is currently in testnet mode and is expected to launch the mainnet in October. It is reported that TEN’s native token will be launched in June.

Related reading: "Detailed explanation of TEN Protocol: Half of the members are from R3, solving the multiple pain points of Ethereum L2"

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