Given the recent upgrade to the Ethereum network, we thought we would share with you our thoughts on Eth and the funds we raised in our ICO. As you may know, we raised approximately 6000 ethereum in our initial coin offering. This ethereum was collected while the price levels were around $1,200 to $1,400 range. If you have been paying attention to the Ethereum price, you will see this has risen in value significantly!
Last week Ethereum implemented EIP-1559, a significant upgrade to the second largest cryptocurrency behind Bitcoin. This London fork aimed to change the way transaction fees are estimated, a hot topic considering the often high gas fees to process transactions on the network! This upgrade also introduced a burning mechanism to the transaction charges. In the long term, along with the future switch from Proof of Work to Proof of Stake with ETH 2.0, Ethereum may become a fully deflationary token! This means that the supply would constantly be decreasing and make it more attractive to investors. Investors have received the update relatively well as the coin has risen to over $3,000 post upgrade!
We have made an update to our portfolio tracker on the website to include our liquidity on Uniswap, PancakeSwap, and the remaining Ethereum funds raised from ICO that have not yet been reinvested. You can now track the current value and profits being made on these assets. Significant funds still remain on both Uniswap and PancakeSwap to provide liquidity on our 10SET/ETH and 10SET/BNB pairs. This is to ensure that tenset holders can securely trade the coin at any time they wish.
Notably, you can see that we still have 2,500 eth remaining to develop our ETF 2.0 portfolio and invest in new assets. At a current value of $3,300, this is worth over $8 million, so you can expect powerful additions to be made to the portfolio!
Stablecoins are an essential feature in the Tenset portfolio. The $4 million of stablecoins you can see in our portfolio were purchased between 3000$-4000$. These were utilized in order to avoid the huge volatility in the cryptomarket and earn a stable passive income.
The updated version of our portfolio tracker should give you a better idea of how Tenset is investing and generating profits that will be used for the company buybacks. Our first quarterly buyback is a massive 500 Eth, which was collected solely from the Uniswap pool. Now imagine what future buybacks maybe once the remaining funds are invested, and profits from all assets are utilized! The ETF 2.0 portfolio is gearing up to make huge headlines in the near future, particularly as we onboard new Gems and expand our assets.