By
Svetlana Soroka
April 30th, 2024
Crypto exchange OKX quickly introduced the Tensor (TNSR) token on its perpetual futures market while allowing leverage of up to 50x.
On Monday, April 8, Tensor Foundation, the organization behind the popular Solana-based NFT marketplace Tensor launched its own governance token TNSR. This launch gives the TNSR token holders some control over Tensor’s parameters along with fee discounts while transacting TNSR tokens on Tensor. Furthermore, users are eligible to claim their tokens till October 5, 2024.
Top crypto exchanges like OKX and Bitget were among the first to announce listing for TNSR. Crypto exchange OKX announced the listing of the TNSR token on its perpetual futures market. This development is in line with the exchange’s commitment to providing diverse trading options to users.
Since OKX offers the margined TNSR-USDT listing, users can either long or short the Tensor native token with a staggering 50x leverage. Additionally, OKX will also enable TNSR margin trading and Simple Earn facility from April 9, as per the press release.
Another crypto exchange Bitget also announced the listing of Tensor (TNSR) to its platform. Speaking on the development, Gracy Chen, Managing Director of Bitget, stated:
“Tensor represents a significant addition to our platform, further expanding our offerings and providing our users with access to one of the most advanced NFT marketplaces on Solana”.
More about Tensor And TNSR Tokens
Tensor is a dynamic NFT marketplace that gives traders massive liquidity within the Solana ecosystem. It has a coverage of over 30,000 collections allowing traders to effectively navigate through a diverse array of NFTs. Also, the Tesnor marketplace features a swift and adaptable user interface offering instantaneous updates and a seamless trading experience.
Advanced features cater to professionals, providing comprehensive support for market-making orders and collection-wide bids. Moreover, Tensor introduces an innovative feature known as the price lock, enabling traders to long or short NFTs with a mere 3% upfront fee.
The TNSR governance token has a total supply of 1 billion tokens. In the initial airdrop, Tensor has released 12.5% of the total supply. On the other hand, 55% of TNSR tokens have been allocated to the core community. Moreover, the core contributors have a right to 27% of the TNSR token supply. The remaining 18% stays reserved for future fundraising endeavors or for advisors and investors. As per the data from Lookonchain, a user received 712,348 TNSR tokens worth a staggering $1.5 million.
This guy received an #airdrop of 712,348 $TNSR, worth $1.5M!
He was also the $W airdrop recipient, receiving an #airdrop of 45,651 $W($45K).https://t.co/ct6JgoHMSM pic.twitter.com/DTFyXdSelD
— Lookonchain (@lookonchain) April 8, 2024
TNSR also enables payments to seven distinguished Solana developers to conduct security reviews of Tensor protocols. Their job is to identify any malicious proposals or potential governance threats. Each member of the security council receives a monthly compensation of $1,000 worth of the governance token for their diligent security assessments