Introduction to OTEN Token:
OTEN Farming
Lock Liquidity
OTEN Token Listing
OTEN Token Distribution
OTEN Roadmap
OTEN Token Tracker
OTEN security
OTEN Code
OTEN NFT
OTEN Contest
Eligibility Criteria for OTEN NFT airdrop
Conclusion
Introduction to OTEN Token:
OnlyTen (OTEN) token is an ERC 20 token which is identified as a community-led project on the Ethereum blockchain with a limited supply of only 10 tokens ever.
WHY 10 tokens ever?
This is interesting to know WHY onlyten offers 10 tokens to its users.
The secret of only 10 tokens associates with the project and is based on a unique concept to create real scarcity with a limited supply of the token that will not only help to increase the demand and price for the token but also create more value for the community in building a strong brand and thus will reward it’s holders.
OTEN farming:
Onlyten is a long-term community-driven project that is connected to Yield Farming. Currently, OTEN farming is in a testing phase and further details will be released as and when we are able to communicate to the community.
Farming is a new concept in the digital world where farmers or liquidity providers deposit their crypto assets into the liquidity pool or locking up their crypto assets using permissionless protocols and earn staking rewards in the form of fees on providing liquidity to the pool, in return.
OnlyTen facilitates OTEN farming, a farming strategy in which liquidity providers are incentivized with pool reward rate in proportion to the liquidity provided to the pool by staking their LP tokens.
Liquidity providers (LP) deposit two tokens of equivalent value to create a market. In the case of OTEN farming, LPs could provide a pair of OTEN/ETH to the liquidity pool for staking LP tokens. Subsequently, farmers or LP’s get rewards in the form of OTEN/block pool reward rate on providing liquidity to the pool.
Locked Liquidity:
The initial liquidity that was raised at the time of presale has been locked for 30 years by Unicript. There are only 4.4531 UNIV2 tokens locked, having a value of $24,014.82. The unlock date will be December 12, 2050. This changes as people trade. More liquidity tokens are also minted as people add liquidity to the pool. Currently, the total liquidity value is equivalent to $36,138 with a 6.7012 liquidity value as of November 12, 2020.
OTEN Token Listing:
Currently, The OTEN token is listed on the two decentralized exchanges, Uniswap and Etherflyer.
Uniswap is a decentralized exchange protocol that allows for token swaps. Uniswap interface import arbitrary ERC20 tokens for OTEN tokens. Uniswap is an automated market-making (DEX) that is built on the Ethereum blockchain. Uniswap platform facilitates token swaps for OTEN farming.
OTEN trading is live on Uniswap and Etherflyer. It means OTEN/ETH trading pair is available on Uniswap and EtherFlyer. Additionally, it will be listed on another exchange, And CoinGecko will be listing soon once liquidity has built up.
OTEN Token Distribution:
OTEN token will be distributed as below:
· 50% Presale
· 15% Uniswap Pool
· 12.5% Competition
· 12.5% Marketing
· 10% Team
OTEN Roadmap:
OnlyTen has big plans for the future that initiates from the fourth quarter, 2020 & will be implemented by the second quarter of 2021. please see the latest road map on the new website https://onlyten.finance
OTEN Token Tracker:
OTEN token can be tracked on Etherscan which reflects the token price, total supply, holders’ addresses, and the total number of transactions that maintain transparency for the project.
OTEN Security:
OTEN token was created on the Ethereum blockchain therefore it has the same security attributes as ETH. (Make sure to keep your private keys safe and private & double-check the address where you want to send your funds). Once you lose your private keys or send crypto funds to any other address even by mistake, you will never be able to get access to your tokens again.
OTEN Code:
The OTEN code was written with the NON minting function embedded into it’s core structure so there can only ever be TEN tokens!
Anyone can check the OTEN code that has been written in solidity language by its developed & is publicly available on Etherscan. 0x061206cff531afe9b69f1c82cedd036a15a7c4a9
OTEN NFT:
Non-Fungible Tokens An (NFT) token is a type of cryptographic token which represents a unique token. These tokens are non-interchangeable with each other and introduced a concept of scarcity to the chain.
There are only 100 NFT tokens minted ever, therefore; they will be available to trade on the rarible marketplace as soon as they are airdropped to holders once the latest contest is concluded.
Eligibility criteria for NFT airdrop:
The below criteria is required to qualify for the OTEN NFT airdrop:
· Hold at least 0.01 OTEN.
· Provide 0.01 OTEN and equivalent liquidity in the OTEN/ETH pool.
· Hold liquidity in the pool for a minimum of 21 days.
· Send a copy of the transaction Hash to [email protected].
OTEN Ongoing Contest:
COMPETITION N°1
Top 10 holders will share 0.65 OTEN
Position 1–3 will be 0.1 OTEN
Position 4–10 will be 0.05 OTEN
COMPETITION N°2
All Liquidity providers will share 0.6 OTEN between all LPs according to their percentage in pool
Conclusion:
In short, OTEN works on the billion-dollar concept to create a principle of scarcity, that will generate a true value for the token through a simple supply and demand rule. OnlyTen facilitates OTEN farming, a farming strategy provides an opportunity for Liquidity and providers to earn the pool reward rate that is proportional to the liquidity provided to the pool on staking their LP tokens.
REFERENCES:
https://academy.binance.com/en/articles/what-is-yield-farming-in-decentralized-finance-defi#yield-farming-platforms-and-protocols
https://etherscan.io/token/0x061206cfF531AfE9b69F1c82CEDD036a15a7C4a9
https://etherscan.io/address/0x061206cff531afe9b69f1c82cedd036a15a7c4a9#code
https://academy.binance.com/en/glossary/non-fungible-token-nft
