Tensor (TNSR)
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About TNSR
The TNSR token plays a pivotal role in the governance of two innovative protocols: Tensor and Vector. Tensor, launched in July 2022, has quickly established itself as the leading NFT marketplace on the Solana blockchain, commanding a notable 60-70% of the Solana NFT market share. It gained popularity by addressing the needs of NFT traders, offering real-time data, advanced charting tools, and a user-friendly terminal interface, creating a vibrant ecosystem for digital asset trading. On the other hand, Vector has emerged as a frontrunner in the social trading sector within the cryptocurrency space. Within just three months of its launch, Vector experienced an astounding $7.5 billion in annualized trading volume and attracted 20,000 daily active users, doubling its growth metrics every 1-2 weeks. The platform generates significant revenue, accumulating approximately $75 million annually in fees, with 50% of these fees being directed to the TNSR treasury, further enhancing its governance capabilities. As a utility token, TNSR facilitates participation in protocol governance, allowing holders to influence decisions that shape the future of Tensor and Vector, effectively contributing to a decentralized financial ecosystem. The ongoing developments in the NFT marketplace and social trading arenas underline the potential growth and long-term adoption of TNSR and its underlying protocols.
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Frequently Asked Questions about Tensor
What is Tensor?
Tensor is a prominent NFT marketplace on the Solana blockchain, providing advanced trading features and tools for creators and collectors.
What is the TNSR token used for?
TNSR is Tensor's native token, used for governance participation, staking, and earning rewards within the Tensor ecosystem.
Where can I buy TNSR tokens?
TNSR tokens can be purchased on various cryptocurrency exchanges that support Solana-based assets.
What is the best wallet for storing TNSR tokens?
TNSR tokens can be stored in Solana-compatible wallets such as Phantom, Solflare, and Ledger.
How does Tensor's AMM enhance NFT trading?
Tensor's Automated Market Maker (AMM) provides features like collection-wide bids, immediate sell-side liquidity, and bonding curve-based orders, improving trading efficiency.
Is Tensor a fully decentralized platform?
Yes, Tensor operates as a decentralized platform, with governance decisions made by TNSR token holders, ensuring community-driven development.