Difference between revisions of "Tetu"

Tetu is a decentralized yield farming protocol built on the Polygon network.<ref>https://docs.tetu.io/tetu-io/master/about</ref> The Tetu protocol offers multiple strategies for yield farmers to earn high and consistent DeFi returns with minimal risk.

Tetu was launched on the 3rd of August 2021. Vsevolod Grigorovich, also known as belbix, co-founded the project as the leading smart contract developer. He quit his job to focus on the DeFi ecosystem, played a core role in developing the Harvest Finance community in 2020, and went further to lay the foundation for the Tetu innovation.

Using his technical skills and in-depth knowledge of DeFi, belbix collaborated with several other DeFi advocates to create the Tetu protocol. Some technical attributes of the Synthetix and Yearn protocols inspired the development of the Tetu protocol. Eventually, Tetu was launched in 2021, and its tokens were distributed to users through yield farming without hosting a presale or involving VCs.

Tetu has a standard vault and a compound vault. The standard vault earns basic rewards for users, while the compound vaults improve rewards for yield farmers by compounding earned tokens and automatically adding yields to the initial stake. Tetu is a decentralized protocol for yield farming, liquid staking, and swapping.

The fees charged from transactions are distributed as rewards to users. Tetu distributes 45% of yield farming rewards to xTETU holders; another 45% is used to acquire protocol-owned liquidity, while the remaining 10% is used for Tetu’s investment fund.

The xTETU token is an interest-bearing token given as an incentive to investors in TETU pools. It is the wrapped version of TETU. When users deposit TETU into yield vaults, they get xTETU in return. The quantity of xTETU does not increase, but its relative value with TETU increases over time. Users can convert their xTETU to TETU at any time without being penalized.

dxTETU is the governance token of the TETU ecosystem. When users stake dxTETU, they get higher returns than staking xTETU. The extra incentives dxTETU holders get comes from emission incentives and early exit penalties.

Certik, PeckShield, and DefiYield audit Tetu. In Tetu’s audit in December 2021, Certik had 13 findings<ref>https://www.certik.com/projects/tetu</ref>. Four of the findings were classified as minor findings, one medium, three major, and none were classified as critical. Five of the findings were classified as informational. So far, eight of the findings from the audit have been resolved, while Tetu has acknowledged the other five.

When audited by PeckShield, no high-risk issues were found. After the second auditing by DefiYield, in the auditing report in 2021, DefiYield stated that the Tetu team had done a lot of work to remove all previously found vulnerabilities, including critical centralization issues, and no suspicious functions were revealed during the auditing process.