ArbiTen 10SHARE 10SHARE
What is the project about? ArbiTen Finance is an algorithmic stablecoin on Arbitrum One that is pegged to 0.1 ETH by both Seigniorage (like Tomb Finance) and Fractional Collateralization (like Frax). There is a delay and scale-up of the redemption and minting features to prevent excessive redemption and ensure longevity. What makes your project unique? The possibility of redemption provides a direct incentive for users to restore the peg, unlike the normal bonding system of Tomb, which generates only burns and no actual buys. ArbiTen's features include NFT yield boosting. ArbiTen Finance will use the NFTs from FarmerLand (https://farmerland.gg/) for yield boosting, and could add other NFT sets via partnership as well. ArbiTen's features also include receipt tokens: depositing in our farms gives users a wrapped receipt token, which can be deposited in a partner pool, or a pool we create ourselves, for double yield. History of your project. The team is experienced, releasing DeFi products together since July 2021. The project is a close fork of 10mb Finance. What’s next for your project? The team will be launching Arbitrum Janis Dex, which will provide staking for receipt tokens so that users can earn double yield. What can your token be used for? In addition to being used for the standard features of governance and yield, the 10SHARE token is burned when ArbiTen is minted. It is also deposited in the Boardroom to receive new ArbiTen minted by the protocol.