What is Tensor? Enjoy the world of NFTs with outstanding features on Solana

What is Tensor? Tensor is an emerging NFT exchange in the Solana ecosystem, offering users a diverse range of experiences. Recently, the platform’s TNSR token has been officially listed on major exchanges, further solidifying its position in the market

What is Tensor?

Tensor is an NFT exchange on the Solana platform, catering to professional traders in the NFT space. Founded in 2022 by a team of Web3 and NFT experts, Tensor enables users to buy, sell, and trade NFTs swiftly, leveraging Solana’s high-speed ecosystem.

Despite launching after February 2024, Tensor has surpassed Magic Eden to become the largest NFT exchange on Solana. It also boasts the highest number of active wallets among Solana’s NFT exchanges, with approximately 345,000 active wallets in a single month, according to Dune.com.

What are the outstanding features of Tensor?

• Largest NFT exchange on Solana: Tensor has recorded a total trading volume of over $2 billion, once capturing 85% of the NFT trading volume on the Solana network. However, since February, with the rapid growth of Magic Eden, Tensor’s market share has declined to below 40% (according to Dune.com).
• Scalability and fast processing speed: Built on the Solana blockchain, Tensor leverages Solana’s high processing capacity to offer a fast and cost-effective NFT trading experience, making it ideal for high-frequency traders.
• Outstanding features: Tensor provides real-time data, candlestick charts, and support tools to enhance liquidity and trading efficiency. Its interface is optimized to ensure a smooth trading experience for users.
• Many attractive incentive programs: Known as the “Blur” of the Solana ecosystem, Tensor targets professional investors with enticing reward programs. These include promotions such as NFT airdrops and mystery boxes to encourage trading activity and liquidity provision.

Tensor ecosystem

The trio in the ecosystem of Tensor Tensor Aggregator, Tensor NFT AMM and Tensorians.

1. Tensor Aggregator

Tensor Aggregator is a comprehensive platform that consolidates liquidity from multiple NFT marketplaces in the Solana ecosystem, including Tensor Swap, Magic Eden, Hyper Space, and Solanart. This feature allows users to choose the most suitable liquidity source for their needs.

• User-Friendly Interfaces: Tensor Aggregator offers two modes: Lite (simple) for casual users and Pro (professional) for experienced traders. The Pro version also integrates TradingView, enabling real-time price monitoring.
• Zero Marketplace Fees: Tensor Aggregator does not charge transaction fees for Marketplace trades, significantly reducing costs for users.

2. Tensor Swap

Tensor Swap is an NFT exchange operating on an Automatic Market Maker (AMM) mechanism, which allows users to trade NFTs and provide liquidity efficiently.

• Customizable Fees: Users can manage their AMMs and set custom fees. Currently, there are no fees for listing, bidding, or market-making; takers only pay a 1% fee.
• Outstanding Features:
  • Bid: Enables users to place orders to purchase NFTs at their desired price.
  • Sweep: Lets users buy multiple NFTs in a single transaction, saving time.
  • Price Lock: A unique feature allowing users to go Long or Short on NFTs with a fee of just 2.7%.

3. Tensorians (NFT Collectibles)

To reward its users, Tensor introduced Tensorians, a pixel-art avatar collection on Solana. This collection serves as both a token of gratitude and a means to encourage trading on the platform.

• Market Performance:
  • Initially launched with a floor price of 2 SOL, Tensorians saw an impressive rise to 85 SOL by December 2023 (over 40 times its initial price).
  • As of April 2024, the floor price stabilized around 32 SOL (~$7,000), cementing its position as a successful NFT collection within the Solana ecosystem.
• Impact: Tensorians significantly contributed to enhancing Tensor’s reputation and positioning within the Solana NFT market.

Tensor’s TNSR token

The TNSR token is the native utility and governance token of the Tensor platform, operating on the Solana blockchain.

1. Token information

• Name: Tensor
• Transaction code: TNSR
• Blockchain platform: Solana
• Contract: TNSRxcUxoT9xBG3de7PiJyTDYu7kskLqcpddxnEJAS6
• Total quantity supplied: 1,000,000,000 TNSR
• Quantity in circulation: 125,000,000 TNSR.

2. Token Allocation & Time release program

With a total supply of 1 billion, TNSR tokens are distributed as follows:

• Community Fund: 55%, airdrop will account for 12.5%
• Main contributor: 27% (270 million TNSR)
• Investors & Advisors: 9% (90 million TNSR)
• Reserves: 9% (90 million TNSR)

Time TNSR token issuance:

• Key Contributors, Investors & Advisors: Linear unlock for 3 years with first 1 year as lock-in period.
• Reserve: Linear unlock for 3 years.
• Community Fund: Divided into 2 parts, half will unlock linearly over 3 years (no lock period). The other half also unlocks linearly for 3 years, but has 1 year of initial lock.

Currently, Tensor has conducted 3 airdrops for the community and is preparing for the 4th season, at the same time as the TNSR token listing. 12.5% ​​from the total TNSR supply to the community fund will be distributed via the first Airdrop to Treasure Boxes and Tensorians NFT holders. The remaining 42.5%, will be used for incentive programs, providing liquidity and support for the Tensor ecosystem.

3. TNSR trading floors

Three major exchanges today, Binance, OKX and Coinbase, jointly listed Tensor on April 8, 2024.

4. How to collect points on Tensors to exchange TNSR tokens

• Make NFT trades: Make bid/listing/market-making for NFTs in the top 100 in 24-hour trading volume.
• Refer a friend: Get extra bonus points when your friends join (5% increase for each referral).
• Swap NFT on Swapsorian: You will also get bonus points from this.

Some tips to enhance Tensor Points:

• Focus on blue-chip NFT collections with high liquidity.
• Place bids or listings with large values instead of breaking them into smaller ones.
• Always comply with Tensor’s regulations to avoid penalties or fraud accusations.
• Hold Tensorians NFTs to increase the chances of earning bonus points during airdrops.

Investors & Partners

Tensor initially used prize money from the Solana Tensor competition as its operating capital during its first year. While the team planned to raise funds in November 2022, they postponed the effort due to the market’s downturn caused by the collapse of the FTX exchange.

By March 2023, Tensor successfully completed a seed funding round, raising $3 million USD, led by Placeholder. This round also attracted interest and support from notable investment funds, including:

• Solana Ventures
• Alliance
• Big Brain Holdings
• Raj Gokai

Tensor has built strategic partnerships to strengthen its ecosystem and enhance user experiences. Key partnerships include:

• Taiyo Robotics, Oggy, and Wolf Capital NFT
• Lifinity, Cyber Samurai, and UGS Labs

What are the opportunities and challenges of Tensor?

1. Tensor opportunities

• Diverse NFT ecosystem: Tensor integrates key features such as AMM, Marketplace, and the Tensorians NFT collection, creating a comprehensive and seamless NFT ecosystem for users.
• State-of-the-art technology: Tensor combines advanced trading, auction, and liquidity tools, enabling users to conduct transactions with greater efficiency and precision.
• Development Community: Tensor’s active community of users and developers continues to expand. The Tensor Points mechanism and the popular Tensorians NFT collection attract significant participation and contributions, strengthening the platform’s ecosystem.
• There are many attractive Airdrops: Tensor has successfully conducted three airdrops and is preparing for the fourth season, timed to coincide with its launch on major centralized exchanges (CEXs). These airdrops serve as a strong incentive to attract and retain users in the competitive NFT market.

2. Tensor Challenges

• Not all NFTs are easy to sell.
• The NFT market is highly volatile.
• Competition is high as Magic Eden is a direct competitor of Tensor. These two exchanges are currently ranked top above Solana.

If you’re searching for a powerful, professional, and reliable NFT trading platform on Solana, Tensor is the answer. With its comprehensive suite of support features, Tensor offers more than just NFT trading—it provides a full ecosystem designed to help you explore and maximize the NFT market’s potential.