Each staking protocol (v1, for v2 it will be on a by node basis) on Tenderize will have its own liquid ('tender') token called TenderTokens.
tGRT is minted when a user deposits GRT, and it can either swapped for instant redemption, wait for the unthawing period, or be utilized on the open market.
tGRT follows the ERC-20 token standard with an elastic supply. On top of the usual functionality to read balances or transfer tokens, there is an added logic to control the supply algorithmically.
The supply of tGRT will increase as the staking pool earns rewards or slashing occurs (nodes losing a portion of their deposit for deviant behavior).
This change in the supply is also reflected in the respective balances of each token holder.
Due to this mechanism, tGRT is a stablecoin redeemable in a 1:1 ratio for its underlying assets.
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