Tenet Partners With Conflux And Qtum To Expand Presence In China
Tenet, a layer 1 liquid staking blockchain built on the Cosmos network, teams up with Conflux and Qtum, two blockchains with a large presence in China, to deepen the roots of the liquid staking industry in that country’s markets. The partnership aims to integrate Tenet into the Asian blockchain community, which is “often siloed from Western crypto projects,” the announcement said.
Conflux and Qtum users will stake at least $1 mln worth of their native tokens to secure each blockchain and receive liquid staking derivatives (LSD) issued by Web3 infrastructure firm Ankr. Conflux and Qtum stakers will then transfer their LSDs to the Tenet network and restake them to gain access to increased yield and utility.
The price of TENET, the native token for the Tenet ecosystem, is trading at $0.1707 at the time of writing, according to CoinMarketCap. Conflux’s CFX token is down 0.65% to $0.3076 in the last 24 hours, while QTUM token has lost 3.98% over the same period to trade at $2.61.