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Home » blog » TEFI token price is up 150% despite market correction and TEFI announced a generous APY staking of 512%

TEFI token price is up 150% despite market correction and TEFI announced a generous APY staking of 512%

Staking in Telegram: TedefiBot

Website: Tedefi.com

After two months, the price of the TEFI token, which started at $ 0.02, has increased 400%. Some may argue that it was not the best time to launch as it was followed by a major market correction, but the Tedefi platform managed to gradually increase its media presence and keep pace with its roadmap by providing weekly updates for the Tedefi Telegram Exchange Bot. Therefore, the token is showing remarkable resistance to downward pressure from the market and the price has risen 150% in the past 30 days alone.

Long-term strategy

The Tedefi platform aims to present the first blockchain for Telegram dApps. The Tedefi Exchange Bot is a proof-of-concept that executes a PoSA blockchain that is forked from a BSC in the background with the help of oracles, which connect the blockchain with the Telegram API. At the moment, the Blockchain Explorer and the developer tools are not yet public, as the oracles are still in the development phase, while the relationship with the Telegram API is used to cover all functionalities and to make them as versatile as possible, giving developers the freedom will create NFT marketplaces, play-to-earn games, exchanges, auctions and many more dApps on Telegram.

In order to steadily expand the community that supports the platform and to keep the TEFI price in a strong upward trend until the public announcement of the mainnet takes place, the Tedefi exchange will be regularly updated and advertised in the media.

The latest updates include:

  • P2P transfers within Telegram between Tedefi users
  • Metamask and Trustwallet integration
  • Adding a SHIB token as a payment method
  • Referral Program and Bounty Airdrop

In addition, Tedefi has now decided to reward its users with a fairly generous staking program.

Staking v1

To foster long-term support from our community on our journey to develop the first blockchain for Telegram dApps, Tedefi has provided 11,284,000 TEFI to reward our users for depositing their tokens, increasing the value of TEFI and more people to steer towards the Tedefi platform.

Staking v1 is limited in time until the TEFI token is migrated from the BSC to the Tedefi network. The migration is scheduled to take place in the second quarter of 2022, with the exact date being announced in the middle of the first quarter of 2022. With the start of the migration, all v1 stakings are stopped and paid out, with the further possibility of storing tokens on staking v2.

Since the TEFI price is directly influenced by supply and demand, the best strategy for constant community growth is to gradually increase the demand for the token.

The main external factor in increasing demand is media coverage, which must be strategically planned to avoid high volatility that creates user uncertainty and mistrust in the platform, so a marketing plan should be in line with the roadmap as well as the Network updates are created.

Internal factors intended to increase prices include staking, token burning to create scarcity, blocking liquidity pools, trading competitions and continuous system updates. To give users an incentive to support TEFI growth through the migration and release of the Tedefi network to the public, Tedefi decided to allocate 11,284,000 TEFI as a reward for staking.

The TEFI lockdown will reduce downward price pressure and attract new users to the platform until the Tedefi blockchain goes live. As soon as the Tedefi blockchain goes live, staking v1 will be discontinued. After that, staking v2 and developer tools will be provided and the tokens made available to the public. There will also be extensive media coverage. The TEFI token will be used as a propellant for all newly created dApps, exchange rate fee reductions, controlling power and staking and this will increase its intrinsic value.

How is an APY formed?

The allocated 11,284,000 TEFI are distributed proportionally to the stakers, and the APY is recalculated for every 5,000,000 TEFI, but limited to 289/367/512% for a period of 30/60/90 days. This is supposed to benefit the early stakers. Shortly before the end date, the 90 and 60 day periods will then be removed and the APY adjusted accordingly. If the pool is not used in full, the remaining TEFI will be transferred to the staking v2 pool.

Conclusion

The Tedefi network is a very promising platform given the speed of growth of Telegram as well as other messenger services like WhatsApp that are trying to keep up with the crypto world by enabling cryptocurrency payments within the app. Next year we can expect a shift in dApps and exchanges within messenger apps. However, Telegram has an advantage: it provides an API for creating bots that offer tremendous possibilities – from games to full exchanges within Telegram.

Staking v1 is a great way to reward early Tedefi users for their support on this path to the first blockchain that will enable the creation of dApps within Telegram! Do not miss this opportunity!

Staking in Telegram: TedefiBot

Website: Tedefi.com

About Felipe Erazo
About Felipe Erazo

Felipe earned a degree in journalism at the University of Chile with the highest honor in the overall ranking, and he also holds a Bachelor of Arts in Social Communication. He has been working as a freelance writer and forex/crypto analyst, with experience gained at several forex broker firms and forex/crypto-related media outlets around the world. He has been involved in the world of online forex trading since 2010, and in the crypto sphere since 2015, providing analytical reports that help traders understand market dynamics with a technical and fundamental approach. Moreover, Felipe has worked as a journalist and editor for several media outlets across Latin America, collaborating with radio stations from his home country, Colombia, Chile, and the United States. His experience includes companies such as FXStreet, Cointelegraph, Bitcoin.com, TradingView, FBS, among others.

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