Sensi, a nearly one-year-old decentralized finance (DeFi) project on BNB Chain, is about to make a significant move forward.
Since last summer, Sensi holders have been staking their tokens, which provides users with a risk-free way of accumulating more Sensi tokens. An active staking lock lasts for 28 days, and you can extend your lock every week to compound your rewards, which are paid out weekly as a proportion of the user’s holding in comparison to the whole locking pool.
The Sensi team has recently informed its community about the expected launches of Sensi v3 and the first Sensi nonfungible tokens (NFT), which have built-in utility to lower trading fees and extra staking (Sensi locking) rewards. The team also announced a more detailed launch path for the long-awaited Sensi Smart Yield platform.
The upcoming migration to the v3 core contract will lower the supply for possible 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.
Sensi’s flagship product, Smart Yield, is about to see the light in the next two months, something the team has been building together with development partner FirstBridge since early summer 2021. Smart Yield makes it possible for everyone to invest in DeFi and benefit from farming rewards with less risk involved than traditional farming. The rewards of Smart Yield will be paid in Sensi tokens.
Those reward tokens will be market bought by Sensi’s Smart Yield contract, which supports 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 it has ambitions to expand to different farms with different risk levels and become a cross-chain project. Additionally, Smart Yield intends to integrate NFTs into its usage, meaning an NFT will be minted and issued to a user of the Smart Yield platform.
This tradable NFT will take into account the amount of BNB and Sensi staked and the rewards that come along with it. Smart Yield users can sell their NFTs to buyers for a higher-than-market price, the longer their rewards have been compounding.
Sensi has announced a soon-to-be-held sale of a unique and limited set of 150 special utility NFTs (called Rare and Legendary NFTs) that provide a financial benefit to their holders. Holders can benefit from extra Sensi locking rewards as well as discounts on trading fees.
The Sensi team seems to have built a multi-token plan that will revolutionize the DeFi space. With a market capitalization of under $2 million at the time of writing, the deflationary Sensi token seems to be a true gem to hold.
Sensi is a community-driven project led by a team of crypto enthusiasts with experience in artificial intelligence technology and large multinational tech companies, such as Google and Microsoft. Sensi’s aim is to simplify DeFi and make it accessible to everyone. The project’s team can be found on social media such as Telegram and Discord.