We believe in the democratization of Tendies. As promised, Tendies Grilling Rewards are now available on Poloniex! Our hot wallet quickly became one of the top 50 holders of Tendies and we started generating rewards. We’re excited to distribute 100% of those (and future) rewards back to our TEND holders.
Tendies Grilling is a mechanic within the Tendies ecosystem where a portion of the TEND-ETH Uniswap liquidity pool is pulled out of the pool and redistributed or “drained” each day. 51% of the drained TEND tokens are burned forever and 48% go to the Tendies Reward Bucket. Once every 3 days, the Tendies Reward Bucket can be emptied and all funds in the bucket will be distributed proportionally among the top 50 TEND holders. Since Poloniex is a top holder, we’re distributing 100% of the rewards we receive to our TEND holders.
Starting September 15, 2020, our customers who hold TEND in their Poloniex wallet will be eligible for rewards. TEND rewards will be variable depending on the amount of TEND drained over each time period.
With no lock-up period, you’re free to trade, deposit, or withdraw TEND throughout the day. Just make sure your TEND is in your Poloniex wallet at the time of each snapshot to keep the Tendies coming.
How to Receive TEND Rewards:
- Deposit TEND into your Poloniex account
- Hold at least 1 TEND to be eligible for rewards
- We’ll take TEND balance snapshots every four hours
- Rewards will be distributed into your Poloniex account each time the Tendies Reward Bucket is drained, approximately every three days
Eligible customers who hold TEND on Poloniex during the balance snapshots will receive rewards approximately every three days. In order to receive your rewards, your account must meet the following criteria at the time of the distribution:
- Your account must be in good standing (not closed or frozen)
We are not able to provide rewards to customers located in prohibited countries or jurisdictions highlighted in the Poloniex User Agreement