TNSR
Tensor Protocol is a smart contract autonomous protocol based on the Solana blockchain that aims to connect users, collectors, buyers, and sellers of the NFT market.
The Tensor Foundation, the new entity that supports the famous Solana NFT marketplace Tensor, has launched the TNSR token, marking a new era for NFT trading. On Tuesday, the Tensor Foundation outlined the strategy for the TNSR token in a series of tweets.
According to the report, TNSR will be used to manage the Tensor Protocol, which has already facilitated more than $2 billion in NFT transactions on Solana. Solana is known for its unparalleled speed and scalability, and the Tensor Protocol operates on such a foundation.
On March 13, 2024, Tensor, an NFT marketplace in the Solana ecosystem, announced the launch of the governance token TNSR. This move will give TNSR holders control over the future direction of the protocol. The Tensor Protocol has processed more than $2 billion in Solana
NFT transactions account for more than 70% of the Solana network NFT transaction volume in the past 90 days, which shows Tensor's leading position in the market.
Since completing a $3 million financing in March 2023, Tensor has won wide support from the community and investors with its outstanding performance and technical strength in the Solana hackathon. With the Tensor Foundation about to announce more details about the issuance of the TNSR token, the community is full of expectations for its future development.
After Tensor launched the governance token TNSR, its every move has attracted widespread attention from users. As the Solana ecosystem has achieved an astonishing 150% growth in decentralized exchange (DEX) trading volume, even surpassing Ethereum at one point, Solana's NFT market has also ushered in new development opportunities. Against this backdrop, Tensor, as an NFT market supported by the Solana Foundation, has demonstrated its commitment to promoting the development of the NFT ecosystem by launching the governance token TNSR.
Summary
Tensor's success story not only highlights the efficient performance of Solana's technology, but also proves its infrastructure's ability to support fast and low-cost transactions. By making full use of Solana's advanced technology, Tensor is able to achieve rapid sales of NFTs. At the same time, Tensor has also benefited from the financial support provided by Solana, and its founders have used the winnings to launch and advance this project.
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