What is Tensor (TNSR)?

Deep Dive

1. Purpose & Value Proposition

Tensor addresses fragmented NFT liquidity and inefficient trading on Solana by offering a professional-grade marketplace tailored for traders. Its real-time data, bulk listings, and low-latency interface streamline high-frequency NFT trading, which helped capture ~$2B in Solana NFT trades. Unlike collector-focused platforms, Tensor prioritizes speed and analytics, attracting power users.

2. Ecosystem Fundamentals

The ecosystem comprises:
- Tensor Protocol: Open-source infrastructure for NFT trading, auctions, and indexing.
- Vector: A social trading app for tokens, generating $75M/year in fees (50% routed to TNSR treasury).
Both protocols are governed by TNSR holders, who vote on upgrades and treasury allocations.

3. Tokenomics & Governance

TNSR’s utility includes:
- Fee Capture: 50% of protocol fees from Tensor and Vector fund the TNSR treasury, supporting grants and ecosystem growth.
- Governance: Decentralized decision-making via Tensor DAO, including fee splits and protocol upgrades.
In November 2025, the Tensor Foundation acquired full control of the marketplace, burning 21.6% of unvested tokens and redirecting 100% of fees to the treasury.

Conclusion

Tensor is a Solana-native ecosystem blending NFT liquidity with social trading, governed by TNSR holders. Its success hinges on maintaining NFT dominance while expanding Vector’s cross-chain capabilities. Can TNSR’s governance model sustainably align incentives as the ecosystem scales?