TNSR is the native token of the Tensor Protocol, which is a revolutionary system built on the Solana blockchain for buying and selling non-fungible tokens (NFTs). It plays a crucial role in keeping the marketplace for these unique digital assets running smoothly.
The Solana blockchain is known for its speed, transaction fees, and capacity, making it an excellent choice for widespread NFT adoption. TNSR leverages these strengths to power protocols that have already facilitated over $2 billion worth of Solana NFT trades, representing a significant portion of the market.
In this article, we will take a closer look at the TNSR project, exploring its utilities, underlying mechanisms, and the steps involved in purchasing TNSR. Follow along to learn everything you need to know about this exciting project.
Overview of TNSR
The Tensor Protocol (TNSR) serves as a stock exchange for Solana NFTs, where you can buy, sell, and trade these unique digital collectibles. The platform is designed to provide fast and affordable transactions, taking advantage of Solana's transaction throughput and low fees which are essential for widespread non-fungible token adoption.
TNSR is a community-driven platform that offers governance power to holders of the $TNSR token. You can participate in shaping the future of Tensor Protocols (TNSR) by contributing your ideas and opinions on how the NFT trading hub should operate.
Using the $TNSR token also has its benefits. NFT sellers who create listings with the token can enjoy a 25% discount on protocol fees, making it a smart choice for those who want to save money while participating in the NFT action. So, if you want to have a say in the future of TNSR and enjoy cost savings, holding the $TNSR token might be the way to go.
Applications/Utilities of TNSR
Governance: As a governance token, $TNSR empowers community members to propose and vote on changes to key parameters of the Tensor protocols through Tensor Improvement Proposals (TIPs). These proposals encompass three main categories: Protocol, Process, and Operations. Protocol proposals involve adjustments to critical protocol parameters such as fee percentages, while Process proposals pertain to changes in governance procedures, and Operations proposals relate to branding and marketing initiatives.
Discounts on Trading Fees: Holdings of $TNSR entitle users to discounted trading fees when transacting on Tensor protocols. Listings created using $TNSR enjoy a 25% reduction in protocol fees, incentivizing the use of the token within the ecosystem.
Protocol Management: TNSR also plays a crucial role in managing the underlying protocols. It undertakes the task of maintaining and modifying essential parameters, ensuring smooth and efficient operations. This proficiency in protocol management directly influences the overall stability, functionality, and seamless performance of Tensor.
Incentivizing Participation: Encouraging active involvement, TNSR incentivizes users to participate in airdrops, trading, and other ecosystem activities. By holding and using TNSR, users contribute to the health and vibrancy of the Tensor community.
Tokenomics
Total Supply:
TNSR has a total supply of 1 billion tokens. The initial $TNSR distribution is as follows:
1. 55% or 550,000,000 $TNSR to the community
- of which 12.5% is the initial airdrop
- of which 2.3% is the power user airdrop (vested)
2. 27% or 270,000,000 $TNSR to core contributors
3. 9% or 90,000,000 $TNSR to investors & advisors
4. 9% or 90,000,000 $TNSR reserve for future fundraising & development
What is an NFT Marketplace?
A non-fungible (NFT) marketplace is a giant online store designed to buy and sell NFT assets. Imagine it working similarly to Amazon or eBay, but you're dealing with unique digital assets instead of physical goods or everyday items.
These digital assets can be all sorts of things, like digital artwork, collectible trading cards, snippets of music, or even virtual real estate in online games. The key is that NFTs use blockchain technology to prove ownership and ensure these digital items are one-of-a-kind.
So, if you've ever wanted to own a rare piece of digital art or an exclusive item in a game, an NFT marketplace is the place to go to find it, buy it, or even sell it to someone else.
How to Buy and Trade TNSR on CoinEx?
CoinEx is a globally recognized cryptocurrency exchange known for its diverse range of products. With a focus on quality, speed, and comprehensiveness, the exchange has over 1,100 tokens and more than 1,600 trading pairs on the list, attracting over 6 million users across 200 countries and regions.
To purchase TNSR tokens on CoinEx, follow the steps below.
- Create an account: Start by signing up for a CoinEx account.
- Deposit Funds: After logging in, deposit funds into your CoinEx account using any supported cryptocurrencies or deposit methods available on the exchange. Having funds in your account enables you to execute trades seamlessly.
- Navigate to TSNR Trading Page: Once your account is funded, go to the dedicated TNSR trading page on CoinEx. You can find a search box and enter the term “TNSR” to swiftly locate the trading pair associated with TNSR tokens.
- Choose a Trading Pair: Select the trading pair TNSR/USDT if you'd like to trade TNSR against USDT (Tether).
- Specify the Purchase Amount: Determine the quantity of TNSR tokens you want to purchase. Input the amount into the trading interface, which will calculate the corresponding cost based on the current market price.
- Execute the Trade: With the specified amount, proceed to execute the trade. Confirm the details, and if you are satisfied, submit the order.
By following these comprehensive steps, you can easily trade TNSR on CoinEx, taking advantage of the available trading pairs.
Hot