A low-capacity DeFi crypto currency grew by 409% in just a few days, attracting attention. What triggered the rally in altcoin called Tendies (TEND)?
Altcoin called Tendies (TEND) rose 400 percent
According to CoinGecko, Tendies, a cryptocurrency that calls itself "the next generation hyperinflationary currency", has recently increased from $ 0.1853 to $ 0.1443. At the time of writing, crypto money was withdrawn and traded at $ 0.86. In just 4 days, altcoin rose 409 percent. Crypto money rose sharply in a short time and gained a significant volume by overcoming the decentralized oracle network ChainLink (LINK).
Poloniex announced that it will list cryptocurrencies on August 1, and this accelerated the price in this development. The basics of the project are based on a deflationary model and user loyalty to try to create value. 4% of approximately 9 million TENDs stored in the Uniswap liquidity pool are consumed daily. The user who makes the call gets 1% of the tokens consumed.
Developers: The Tendies project is nothing more than a social experiment!
The remaining TENDs are sent to two addresses. An address burns 51% of unloaded tokens. The second address gets 48% of the tokens that will be distributed to the top 50 TEND holders every three days. The process is designed to encourage traders to keep more TENDs to qualify for bonuses. Anonymous developers of the cryptocurrency say that Tendies is nothing more than a social experiment and suggests it has entered the market with significant risk.