TNSR Introduction
Tensor, as the largest NFT marketplace in the Solana ecosystem, handles 60%-70% of Solana's daily NFT trading volume. Since its launch in July 2022, Tensor has rapidly risen to become the leading NFT marketplace in less than a year with its swift and professional NFT trading experience. Most Solana NFT collectors and traders use Tensor as their daily trading platform, as it covers the widest range of the latest NFT projects on Solana.
The blockchain token TNSR, launched by the Tensor marketplace, aims to enhance the network's functionality and security through community governance. After its protocol traded over $2 billion in Solana NFTs, Tensor announced the launch of the TNSR token. TNSR not only gives holders fee discounts, the right to submit governance proposals, and funds independent security audits but also marks Tensor as a project striving for innovation and community control, moving towards a new phase of success.
Currently, TNSR's circulation is 125 million, with a maximum supply of 1 billion. This data indicates that TNSR has received recognition and support from major exchanges, and its listing on various trading platforms has been warmly welcomed by the market.
How Does the Tensor NFT Marketplace Operate on Solana?
The Tensor NFT marketplace utilizes Solana's high-performance blockchain features, including its notable high speed and low transaction fees, to provide users with a rapid and cost-effective NFT trading platform. These features have laid the foundation for Tensor's rapid growth and leadership in the market, making it the preferred platform for professional traders. Tensor offers complex functionalities like real-time data updates and detailed candlestick charts, as well as automated trading dynamics enhancement features, all designed to meet the needs of professional traders.
The Tensor NFT marketplace is more than just a trading platform; it aims to be more efficient and user-friendly than existing platforms. Tensor.trade, comprising Tensor Trade (aggregator) and Tensor Swap (AMM protocol), significantly improves the user trading experience by providing candlestick charts, floor price information, and optimized order functionalities. These features make Tensor.trade a platform users are reluctant to replace with other NFT trading tools.
Impressively, even during downturns in the NFT market, Tensor.trade has performed exceptionally well. Since its launch, it has accumulated a trading volume of $140 million, with about 5000 daily active users, surpassing many well-known exchanges. At its peak, its daily average trading volume even exceeded the total number of traders in the entire Ethereum NFT market.
Tensor's Advantages
1. Decentralized Governance: Tensor adopts a DAO (Decentralized Autonomous Organization) model, ensuring that platform users are not just participants but decision-makers. This governance model fosters a fair, transparent ecosystem, giving everyone the opportunity to influence the platform's future direction.
2. Royalty-Free Secondary Sales: At Tensor.trade, artists and creators can freely sell their NFTs without worrying about royalties or additional fees, ensuring they receive full profits from their work. This policy is a significant advantage for creators, especially in traditional markets where high royalty fees often burden them.
3. Scalability and Speed: Based on Solana, a blockchain designed for high throughput, Tensor.trade offers users a fast and cost-effective NFT trading experience. Solana's high speed and low transaction cost characteristics keep Tensor smooth when processing a large volume of transactions.
4. Interoperability: With increasing interoperability within the Solana ecosystem, NFT creators can develop new features that interact with other applications like DeFi, providing more utility for NFTs and attracting more investors and creators.
5. Low Transaction Costs: Tensor.trade leverages Solana blockchain's low Gas fees advantage, reducing transaction costs for creators and collectors. In other blockchains like Ethereum, where network congestion leads to high transaction fees, Tensor's low-cost transactions are particularly valuable.
6. Community-Driven: Tensor's development is strongly supported by its active community. Community members help the platform continually improve by providing feedback and suggestions, embodying the true spirit of community-driven growth.
7. The Tensor Super Fan Program: The "Tensorians" program incentivizes users to actively participate in platform activities through rewards and special benefits, making them a core force in the Tensor ecosystem. This program not only increases users' sense of belonging but also injects vitality into the platform's long-term development.
Challenges Facing Tensor
1. Dual Challenges of Liquidity and Recognition: As a new platform, Tensor.trade faces challenges in liquidity and market recognition when competing with established contenders like Ethereum. Despite this, given its innovation within the Solana ecosystem, Tensor.trade holds significant potential in the NFT trading sector.
2. The Key to User Experience: To stand out in the fierce competition, Tensor.trade must continuously optimize its user interface and transaction experience, ensuring platform usability and transaction smoothness to attract and retain more users.
3. The Importance of Collaboration with the Art Community: Close collaboration with artists and creators, providing them with favorable creation and sales environments, is a key strategy for Tensor.trade to attract quality content and expand its user base.
4. Exploring Cross-chain Interoperability: Expanding compatibility with other blockchains and enhancing interoperability through the establishment of cross-chain bridges can bring a wider user base to Tensor.trade and increase the platform's attractiveness.
5. Innovative Attempts at NFT Futures Trading: Considering introducing NFT futures trading functions could not only increase market depth and attract traders and investors but also bring new vitality and growth momentum to the platform.
Despite numerous challenges, Tensor.trade's unique positioning and innovation capabilities within the Solana ecosystem, combined with continuous optimization of user experience, close collaboration with the art community, exploration of cross-chain interoperability, and the introduction of forward-looking features such as NFT futures trading, lay a solid foundation for its future success and growth. Tensor.trade is poised to play an even more significant role in the Solana ecosystem, jointly shaping the future of the digital collectibles market.
TNSR Token Governance Mechanism and Proposal Process
1. Total Supply and Distribution: The total supply of TNSR tokens is set at 1 billion. These tokens are allocated to early airdrops, core contributors, the community, and future fundraising activities, with 55%, or 550 million TNSR tokens, allocated to the community, reflecting the importance placed on community-driven development.
2. The Core of Community Governance: The launch of TNSR tokens aims to achieve community governance of the Tensor protocol, enabling TNSR holders to participate in the platform's management and decision-making, strengthening the role and influence of TNSR holders in the community.
3. Proposal Submission Threshold: Community members must meet a certain TNSR holding threshold to submit proposals, ensuring the governance participation threshold and proposal quality. This mechanism promotes more responsible and purposeful governance participation.
4. Community Voting Decisions: Proposal adoption relies on community voting, emphasizing the democratic nature of community governance. Every TNSR token holder has the right to participate in voting, collectively deciding the future development direction of the Tensor network.
Tensor Foundation Governance Mechanism
Application of Decentralized Autonomous Organization (DAO): By implementing the DAO model, the Tensor Foundation ensures that TNSR holders can directly participate in the decision-making process, establishing a fair and transparent governance structure. This model allows every TNSR holder to voice their opinions on the platform's development direction and participate in decision-making.
Royalty-Free Secondary Sale Policy: The Tensor Foundation's royalty-free secondary sale policy not only increases creators' earnings but also reflects respect for creators' rights. This policy enhances community fairness, allowing all participants to equally share their creative value on the platform.
Proposal and Voting Process: TNSR holders can submit governance proposals through the Realms platform, a tool based on Solana. After community discussion, if a proposal gains enough attention and discussion, it will move to the voting stage. Each proposal requires 250,000 TNSR to be created and must accumulate 10 million TNSR in support to pass, ensuring proposal quality and broad community participation.
Security Review Mechanism: To prevent malicious proposals or other harmful governance attacks, the Tensor Foundation has established a security committee, composed of seven renowned Solana developers, responsible for reviewing the Tensor protocol. Each security committee member receives compensation
Tensor Team Funding
On March 7, 2023, Tensor successfully secured $3 million in funding, marking another solid step forward in its development within the blockchain space. This funding round was led by the renowned investment firm Placeholder, with support and participation from industry heavyweights such as Solana Ventures and Solana co-founders Anatoly Yakovenko and Raj Gokal.
TNSR Official Links
Website: https://www.tensor.trade/
Twitter：https://twitter.com/tensorfdn
Discord：https://discord.gg/tensor
Steps to Buy TNSR on LBank
Purchasing TNSR tokens on the cryptocurrency exchange platform LBank is straightforward. Here's a step-by-step guide:
1. Log into your account: Ensure you're registered and logged into your LBank account, then click the "Trade" option in the top menu bar to start the trading process.
2. Search for TNSR: Use the search function within the trading platform to find "TNSR," locate the trading pair, such as TNSR/USDT, and click to enter its dedicated page.
3. Place an order: In the TNSR/USDT trading page's spot trading area, enter the amount of TNSR you wish to buy. If you want to complete the purchase immediately at the current market price, select a market order and then click the "Buy" button.
4. Confirm the order: A confirmation window will pop up. After verifying the order details are correct, confirm to place your order. Once the transaction is successful, the purchased TNSR will automatically be deposited into your LBank spot wallet.