The 4% tax for 10set token is now live as of 10AM UTC January 31! As you know, earlier this month we held a final governance vote to decide whether to change the 2% tax that is incurred on all transactions with the 10set token. The community spoke and voted to increase this tax to 4% with the following split:

• 2% burn
• 1% to Infinity
• 1% to NFTs (only for Tenset Original NFT collections, which currently includes Genesis and Sumeragi collections right now)

The technical team are currently working on the new rewards system for NFT holders, which will take place through our Tenset Infinity platform. Owners will need to stake their NFTs in order to earn a share of the 1% fee. If an NFT is not staked it will not earn rewards.

Similar to the “Flexible staking” option that is currently available on Infinity for tokens, NFT holders will be able to lock their NFT for 24 hours. After 24 hours is up, they are free to withdraw the NFT at any time, and continue to earn rewards for as long as it is locked.

Rewards for the NFTs will begin accumulating today, but it won’t start distributing until a later date, that will be announced soon. It will be possible to stake NFTs a few days before this date. More information will be shared when this option is ready.

We are excited to be implementing the changes to our smart contract that our passionate community voted for. We believe that this increased tax can provide several benefits to our ecosystem through increased burning (1% burn has been increased to 2% on all transactions) and the additional utility for the Tenset Original NFT collections who can earn a share of the 1% fee!

A reminder that the Sumeragi NFT auctions begin tomorrow February 1 at 10AM UTC! Users will have the opportunity to bid in 10SET or 10SETx tokens to win a powerful double-utility TGLP NFT! You can read the full auction details here: https://www.tenset.io/en/news/tglp-sumeragi-presentation-auction-details