Tenderize: The year of the steak
2024 Recap: The first phase of growth
2024 was an eventful year for Tenderize. We started by launching Tenderize v2, fulfilling our goal of creating a credibly neutral base layer for liquid staking. This upgrade enables the creation of TenderTokens (tTokens) — single-validator liquid staking pools that offer liquid staking with zero fees, no counterparty, and full capital efficiency.
In the spring, we deployed TenderSwap, a new type of DEX purpose-built for LSTs and LRTs. This innovation allows holders of TenderTokens to instantly unstake their LSTs (for a small fee) without waiting periods.
In the fall, we extended TenderSwap beyond the Tenderize protocol with the launch of lpETH, aiming to be the most efficient DEX for Ethereum LSTs and LRTs. We also developed a similar product, lpSOL, for Solana, which is set to launch in 2025.
Thanks to an enthusiastic group of node operators and delegators—who quickly recognized how this vision could transform their own operations—the protocol and community grew rapidly.
We’d like to thank our entire community for making 2024 an incredibly fun year !
The Menu for 2025
You might have already noticed some updates over the holiday season.
New Wiki & Updated Website
We’ve made significant improvements to our documentation, replacing the old whitepaper with a brand-new Tenderize Wiki. Whether you’re new to Tenderize or just need a refresher, the Wiki is a great place to start. We’ve also refreshed our website, making it much more lively—check it out!
App Improvements & Bug Fixes
Thanks to our amazing community, whose support tickets helped us identify a few small issues, we’ve fixed bugs that were impacting the user experience. We’ve also enhanced the mobile interface and improved the staking flow to provide more clarity.
More insight into incentives
While users have been earning “Hats” (points) for staking, the same hasn’t been true for providing liquidity to TenderSwap. We plan to address this and retroactively issue “Hats” to liquidity providers, ensuring better visibility and consistency for everyone.
But we’re of course not stopping there, 2025 is the year of the steak !
“tToken Baskets”
Because TenderTokens are single-validator LST pools, anyone could create a multi-validator LST pool by combining various TenderTokens into a new smart contract. In Q1, we’ll launch flagship multi-validator LST pools built on top of existing Tenderize infrastructure. These will include collaborations with DeFi protocols to, for instance, loop staking yield. Later in the year, we plan to make it easy for anyone to launch their own multi-validator LSTs using the Tenderize protocol.
WAGYU is coming !
It’s been a long time coming, but $WAGYU, the governance token for Tenderize, will debut in the first half of this year. We didn’t want to release a token just for the sake of it; we wanted to ensure it has a solid, meaningful role in the Tenderize ecosystem.
Fees from TenderSwap and our new “tToken baskets” will be used to buy back WAGYU, which will then be redeployed as incentives and rewards to grow the protocol where it’s needed most. In collaboration with Aragon, we’ve created a governance system—featuring refreshed voting escrow mechanics—that will go live alongside the token, so you can start locking and participating in governance right away.
New Networks & Tokens
With Tenderize v2 now live and well-tested, we’re ready to deploy the protocol on new and larger networks. Thanks to the rise of EVM compatibility on both Bittensor ($TAO) and Hyperliquid ($HYPE), we can easily bring Tenderize to those ecosystems in the near future. Last year, we also partnered with the SEI team on their EVM staking precompiles and aim to deploy Tenderize there as well.
Meanwhile, lpSOL, the TenderSwap version for Solana, will allow users to instantly unstake any type of staked SOL (LST or just delegated SOL). With development nearly complete, it’s set to go live later this year.
Finally, the upcoming Ethereum hard fork, which increases validator balances, could pave the way for our single-validator stake pools to debut on Ethereum, too.
Embed Tenderize in DeFi
Another major goal for 2025 is to integrate the Tenderize protocol more deeply into the broader DeFi ecosystem. With our upcoming “tToken baskets,” new possibilities for utility—such as lending and borrowing, restaking, and more—will quickly emerge.
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It’s going to be an exciting year for Tenderize, and we invite you to join us on the adventure!