What is Tensor (TNSR)?

Deep Dive

1. Purpose & Value Proposition

Tensor is Solana’s leading NFT marketplace, launched in July 2022, tailored for traders with features like auctions, real-time data, and fast execution. Unlike general-purpose platforms, it focuses on high-frequency NFT trading, capturing over $2 billion in Solana NFT trades. Its Vector protocol expands utility into social trading, generating $75M annual fees (half routed to TNSR’s treasury).

2. Technology & Architecture

Built on Solana, Tensor leverages the blockchain’s speed and low fees to offer a “terminal-like” interface for professionals. Key innovations include on-chain order books, batch trading, and integration with Solana’s token standards. The protocol is open-source, enabling community-driven upgrades via decentralized governance.

3. Tokenomics & Governance

TNSR governs both Tensor and Vector protocols. Holders vote on fee structures, treasury use (funding grants and ecosystem growth), and protocol upgrades. Initially, 50% of fees from both platforms flowed to the treasury; post-Coinbase’s Vector acquisition, Tensor Foundation now receives 100% of marketplace fees.

Conclusion

Tensor combines a trader-centric NFT platform with decentralized governance, anchored by Solana’s performance. As the ecosystem evolves, how will TNSR’s governance adapt to balance institutional partnerships (like Coinbase’s Vector acquisition) and community control?