Sensi, a nearly year-old decentralized finance (DeFi) project on BNB Chain, is about to take a significant step forward.
Since last summer, Sensi holders have been wagering their tokens, giving users a risk-free way to collect more Sensi tokens. An active staking ban lasts for 28 days, and you can renew your ban each week to increase your rewards, which are paid weekly as a percentage of the user’s ownership versus the total ban pool.
The Sensi team recently updated its community on the anticipated launch of Sensi v3 and Sensi’s first non-fungible token (NFT), which has an integrated utility to reduce trading fees and additional rewards for staking (Sensi-Locking). The team also announced a more detailed adoption path for the long-awaited Sensi Smart Yield platform.
Sensi v3
The upcoming migration to the v3 core contract will reduce the supply for potential future trading pairs on central exchanges and implement new features that interact with Sensi’s NFT ambitions. The token supply of the Sensi token will be reduced by six digits and users will soon be able to claim their Sensi v3 tokens.
Smart Yield
In the next two months, Sensi’s flagship product, Smart Yield, should see the light of day, which the team has been working on since early summer 2021 together with development partner FirstBridge. Smart Yield allows anyone to invest in DeFi and enjoy farming rewards with less risk than traditional farming. Smart Yield rewards are paid in Sensi tokens. These reward tokens are bought by Sensi’s smart yield contract on the market that backs the token value. Sensi will also burn a portion of the tokens each month, making Sensi deflationary.
Smart Yield automatically invests in 10-15 PancakeSwap liquidity farms. The team has announced that it has ambitions to expand to different farms with different levels of risk and become a cross-chain project. Additionally, Smart Yield intends to integrate NFTs into its usage, meaning that an NFT will be minted and issued to a user of the Smart Yield platform.
This tradable NFT takes into account the BNB and Sensi amounts wagered and the associated rewards. Smart Yield users can sell their NFTs to buyers at a higher than market price the longer their rewards accumulate.
Utility NFTs
Sensi has announced an upcoming sale of a unique and limited set of 150 special NFTs (referred to as Rare and Legendary NFTs) that offer a monetary benefit to their owners. Holders can benefit from additional Sensi lock rewards as well as discounts on trading fees.
The Sensi team appears to have developed a multi-token plan that will revolutionize the DeFi space. With a market cap of under $2 million at the time of writing, the deflationary Sensi token looks like a real gem.
About Sensi
Sensi is a community-driven project led by a team of crypto enthusiasts with experience in artificial intelligence technology and large multinational technology companies such as Google and Microsoft. Sensi’s goal is to simplify DeFi and make it accessible to everyone. The project team can be found on social media such as Telegram and Discord.
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