1. What’s Tenderize?

Tenderize is a protocol with the mission to connect web3 infrastructure protocols and their economics with DeFi. They won the @StakeDAOHQ 1st prize split in July 2021 and received $80,000 grants in hackathon prizes, which are the proofs of its significance.

So how can Tenderize achieve the mission? ‘Tenderize makes stake easier to chew through liquid staking derivatives called TenderTokens that unleash the composability between staked assets and DeFi. Let your tokens earn staking rewards while using them in DeFi at the same time. Avoid long lockup periods, instantly swap your TenderTokens for the original asset any time you want.’

Well briefly speaking, differ from general staking, once you stake your assets, you don’t have to run or choose a node to delegate and you’ll get the liquid staking derivatives pegged 1:1, which are TenderTokens, they will increase as Tenderize earns staking rewards so you earn yield simply by holding them and Tenderize automatically compounds rewards on a regular basis. Besides there is no lockup period, you can swap your TenderTokens for the original asset any time you wantand and TenderTokens can be used in DeFi. Those means you can earn both in DeFi and with the staked assets, as Tenderize said: ’TenderTokens unleash the composability between DeFi and staked assets, allowing you to earn yield on top of yield.’ it’s amazing, isn’t it?

Now Tenderize has launched the testnet, you can try it on Rinkeby testnet, give feedbacks and earn your poap! If you want to learn about Tenderize further, please join the discord community.

2. How To Particiate In the Tenderize Testnet?

The testnet has been launched on Rinkeby(Livepeer is on ArbitrumRinkeby)

, currently there are 3 parts you can test, follow the steps below to try it!

1. Connect your wallet, choose one pool(Let’s take ‘The Graph’) and get testnet tokens.

2. Stake, swap and farm. Once you stake original aeests(GRT), you’ll get Tenderize GRT(tGRT) as we mentioned, and you can swap tGRT to GRT anytime you want. But why don’ you add tGTR/GTR liquidity to farm it and get rewards? So personally speaking, they really did what they said: ‘TenderTokens unleash the composability between DeFi and staked assets, allowing you to earn yield on top of yield.’ Great works!

Finally DO NOT forget to submit the feedback form, you can write down your idea about the product, which is really important to the team and there is a poap for you!

More about Tenderize:

Website:

Blog:

Docs:

Github: