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Our analysis of the situation
On a whirlwind Monday, April 8, the Tensor Foundation unveiled its groundbreaking TNSR governance token, propelling the Solana-based NFT marketplace to dazzling new heights. This dazzling debut not only grants TNSR token holders authority over Tensor's core functions but also envisions a bountiful offering of fee discounts when utilizing TNSR tokens on the Tensor platform. As if that wasn't enough, the opportunity to claim these tokens extends until October 5, 2024, nurturing a sense of excitement and anticipation within the crypto community.
Eager to align with this momentous occasion, premier crypto exchanges OKX and Bitget swiftly jumped on board, with OKX taking the plunge by listing the TNSR token on its perpetual futures market. This bold move underscores OKX's unwavering dedication to delivering a diverse, rich tapestry of trading possibilities to its users. With the margined TNSR-USDT listing, users can now plunge into the tumultuous world of the Tensor native token with an astonishing 50x leverage. Moreover, from April 9 onwards, OKX will introduce TNSR margin trading and Simple Earn facilities, catapulting the platform into a league of its own.
Meanwhile, Bitget has also warmly embraced the expansion by adding Tensor (TNSR) to its esteemed platform. Gracy Chen, Bitget's Managing Director, rightly opined that "Tensor represents a significant addition" to the platform, thereby widening the spectrum of offerings available and delivering unfettered access to one of the most sophisticated NFT marketplaces entrenched within the Solana ecosystem.
A deeper dive into Tensor unravels a dynamic NFT marketplace that ushers traders into a world of opulent liquidity within the Solana realm. Boasting a rich pool of over 30,000 collections, Tensor empowers traders to deftly navigate a rich array of NFTs, all the while flourishing within a swift, user-friendly interface that guarantees real-time updates and frictionless trading experiences.
Melding sophisticated features with professional-grade support for market-making orders and collection-wide bids, Tensor endows traders with the revolutionary price lock feature, enabling them to long or short NFTs with a mere 3% upfront fee—ushering in a new era of efficiency and ease within the NFT universe.
Turning our attention to the TNSR governance token, its total supply of 1 billion tokens has been meticulously allocated, with 12.5% released in the initial airdrop. The lion's share—55%—has been thoughtfully earmarked for the core community, while the committed core contributors assume ownership of 27% of the TNSR token supply. A prudent 18% remains reserved for future fundraising initiatives or the benefit of advisors and investors, painting a picture of astute planning and foresight on Tensor's part.
Equally noteworthy is the power vested in TNSR, which not only facilitates payments to seven distinguished Solana developers for conducting vital security reviews of Tensor protocols but also rewards their diligent security assessments with a monthly stipend totaling $1,000 worth of the governance token. These envoys of security stand sentinel, fiercely guarding against any malicious proposals or potential governance threats, thereby fostering an ecosystem of safety and trust for the bustling Tensor community.
In conclusion, the listing of Tensor's native TNSR token on OKX and Bitget has ignited a wave of excitement within the crypto space. With the promise of governance authority and fee discounts, coupled with the robust and liquid NFT marketplace, Tensor and its TNSR token are poised to carve out a commanding presence in the burgeoning NFT landscape.
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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