In the cryptocurrency market, token launches often attract widespread attention. On April 8, 2023, Tensor, the leading NFT trading platform in the Solana ecosystem, officially launched its governance token TNSR. The launch of this token not only attracted the attention of many investors, but also triggered heated discussions about its economic model and future performance.
TNSR’s Exchange Performance
On the first day of TGE (Token Generation Event), TNSR quickly landed on many mainstream exchanges such as Binance, OKX, and Coinbase. According to OKX’s market data, TNSR hit a maximum of 2.6 USDT after its launch, and as of the time of publication, its price was 1.72 USDT. This performance is reminiscent of the opening performances of other successful projects in the Solana ecosystem.
The development history of Tensor: The official launch of Tensor can be traced back to July 2022. In March 2023, Tensor completed a $3 million round of financing led by Placeholder, with participants including Solana Ventures, Alliance DAO, Big Brain Holdings, and others. It is worth noting that Solana’s two co-founders Anatoly Yakovenko and Raj Gokal also participated in this financing, showing confidence in the future development of Tensor.
In the same month, Tensor launched three rounds of incentive activities, namely Seasons 1, 2, and 3. These activities not only issued "treasure box" rewards with airdrop expectations to active NFT trading users in the Solana ecosystem, but also provided corresponding incentives to users who quoted, placed orders, and made markets on the Tensor platform. This incentive strategy was obviously inspired by the Ethereum ecosystem project Blur, which Tensor co-founder Ilja Moisejevs also admitted in an interview.
Analysis of TNSR Token Economic Model
TNSR’s token economic model was announced simultaneously at TGE. Its total supply is 1 billion, and the initial distribution is as follows:
Community allocation: 550 million (55%), of which 12.5% is the initial airdrop and the remaining 42.5% is used for incentive plans, liquidity supply and ecosystem Grant activities;
Core contributors: 270 million (27%), which will be locked for one year and released linearly in three years;
Investors and advisors: 90 million (9%), also locked for one year and released linearly in the next three years;
Future fundraising and development reserves: 90 million (9%).
Tensor did not elaborate on the specific design of the airdrop, but mentioned that eligible users and Tensorians holders are eligible to receive airdrops, and the amount of airdrops is proportional to users’ usage in Seasons 1, 2, and 3.
Market prospects of TNSR
As the popularity of Solana's ecosystem increases, market expectations for this ecological project are also increasing. In the past few months, several leading Solana ecological projects have performed well in the secondary market. For example, Jito (JTO) on the LSD track and Jupiter (JUP) on the DeFi track, although there is still a gap between them and the leading projects in the Ethereum ecosystem in terms of liquid market capitalization, their full circulation valuation (FDV) has surpassed them.
According to the data, TNSR's opening performance continued the trend characteristics of JTO and JUP of "relatively low liquid market capitalization and relatively high FDV". If TNSR can follow this routine, there may be some upside in the future. However, it should be emphasized that this is not investment advice, as market volatility and uncertainty will always exist.
in conclusion
As another leading project of the Solana ecosystem, the launch of TNSR not only injects new vitality into the NFT market, but also provides new opportunities for investors. Although its economic model is reasonably designed and its market performance is good in the early stages, future trends still require close attention to market dynamics and the development of the ecosystem.
In the cryptocurrency market, success is often accompanied by risks. Whether TNSR can continue the wealth-making miracle on Solana still needs time to verify. For investors, staying rational and making prudent decisions is the best strategy to deal with market fluctuations.