Tensor

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Tensor?

Tensor (TNSR) is a pioneering NFT marketplace on the Solana blockchain, offering a comprehensive ecosystem for traders and creators. It provides advanced trading features, deep liquidity, and real-time updates, along with unique financial instruments like Price Locks and YOLO Buys. The platform is supported by the TNSR token, which plays a crucial role in governance, transactions, and community incentives.

How is Tensor used?

Tensor (TNSR) is the governance token for the Tensor NFT marketplace on Solana. It empowers the community to manage key parameters of the Tensor protocols. By holding TNSR, users can vote on decisions related to the platform and are entitled to discounts when trading on Tensor’s protocols. Listings created in TNSR also have a 25% reduction in protocol fees.

How do I store Tensor?

To store Tensor (TNSR) tokens, you have two main options:

  1. Store in a Custodial Wallet:

    • Hold your TNSR tokens in your KuCoin account. This provides quick access to trading products like spot and futures trading, staking, lending, and more. KuCoin serves as the custodian of your crypto assets, which means they manage the security of your private keys. Ensure you set up a strong password and upgrade your security settings to prevent unauthorized access to your funds.
  2. Store in a Non-Custodial Wallet:

    • Withdraw your TNSR tokens to a non-custodial wallet, which grants you complete control over your private keys. You can use various types of wallets, including hardware wallets, Web3 wallets, or paper wallets. This option is more secure but may be less convenient if you plan to trade your TNSR frequently or use them for other activities. Be sure to store your private keys securely to avoid losing your tokens.

How to buy Tensor?

To buy Tensor (TNSR) tokens, follow these steps:

  1. Choose a Cryptocurrency Exchange: Select a reputable exchange that supports TNSR, such as KuCoin, Binance, CoinEx, OKX, Bybit, gate.io, or MEXC. Compare fees, security features, and supported currencies before making a choice.

  2. Create an Account: Sign up on the chosen exchange with your email address, mobile phone number, and country of residence. Ensure you create a strong password and set up two-factor authentication for added security.

  3. Verify Your Account: Complete the verification process by providing personal information and uploading a valid Photo ID. This step is crucial to ensure the security and compliance of your account.

  1. Add a Payment Method: Add a credit/debit card or bank account to fund your exchange account. This will allow you to purchase TNSR tokens.

  2. Fund Your Account: Deposit funds into your exchange account using your chosen payment method. You can also transfer existing cryptocurrencies from another wallet or trading platform.

  3. Select the Trading Pair: Find the TNSR trading pair in the spot market. For example, you can exchange USDT for TNSR.

  1. Place a Buy Order: Decide whether to use a Market Order or a Limit Order. Market Orders execute immediately at the best available price, while Limit Orders specify a maximum price you are willing to pay.

  2. Store Your TNSR Tokens: You can store your TNSR tokens in your exchange account or transfer them to a non-custodial wallet for greater control over your private keys.

Remember to stay informed about market conditions and adjust your investment strategy accordingly.

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History of Tensor

Tensor (TNSR) is an NFT marketplace built on the Solana blockchain, launched in July 2022. It has gained popularity for its fast transaction speeds and user-friendly experience, becoming a favorite platform among the Solana community. Tensor captures a significant chunk, between 60% and 70%, of the daily Solana NFT trading volume as of April 2024.

Tensor's native token, TNSR, plays a key role in governance, transaction fees, and incentives. It allows holders to vote on proposals influencing the platform's future, provides discounts on trading fees, and offers rewards for community participation. The token's total supply is 1 billion, with a circulating supply of 125 million as of May 2024.

Tensor has grown rapidly since its launch, with its TNSR token experiencing significant price fluctuations. After being listed on major exchanges like Binance and Coinbase, TNSR soared over 8,800% on Binance. The token's price has been erratic, with significant highs and lows, and is currently trading at around $0.93 USD with a 24-hour trading volume of $737.45K USD.

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How Tensor works

Tensor (TNSR) is a pioneering NFT marketplace built on the Solana blockchain. It offers a comprehensive ecosystem for traders, creators, and the community, providing innovative trading features and deep liquidity across over 30,000 NFT collections. Here's how it works:

Trading Features

Tensor introduces unique financial instruments like Price Lock, which allows traders to long or short NFTs with minimal upfront fees, offering potential yields of up to 400%. This feature enhances the user experience and provides new investment avenues.

Community Engagement

Tensor has a strong community focus, with a group of 10,000 superfans known as Tensorians. These users enjoy special rewards, features, and access, making community engagement central to Tensor's ecosystem.

Native Token (TNSR)

The TNSR token is integral to transactions, governance, and community incentives. Its value is closely tied to the platform's innovative offerings and user engagement. As Tensor evolves and attracts more users, the demand for TNSR is set to increase, making it a key asset for stakeholders and a growth engine for the entire platform.

Trading on Bitget

TNSR is listed on Bitget in the Innovation Zone and the NFT Zone. Users can trade TNSR by following simple steps: going to the TNSR spot trading page, entering the amount and type of order, and clicking Buy/Sell. Additionally, Bitget offers promotional events, such as deposit rebates and giveaways, to encourage users to participate in the TNSR ecosystem.

Governance

The TNSR token will be used by the community to manage key parameters of the Tensor protocols. This governance model ensures that the community has a say in shaping the future of the platform.

Overall, Tensor (TNSR) is designed to redefine the user experience in NFT commerce by combining innovative trading features, community engagement, and a robust governance model.

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Tensor's strengths

Tensor (TNSR) has several strengths that make it an attractive investment opportunity and a robust NFT trading platform:

  1. High-Performance Trading: Tensor is designed to provide an efficient trading platform for professional NFT traders. It supports a range of features such as exchange, auction, storage, conversion, and NFT management, offering users a unique way to buy, sell, and trade NFTs.

  2. Personalized Trading Experience: The platform offers a wide range of customization options, allowing users to tailor the trading environment according to their preferences. This includes selecting preferences and configuring slide-point settings, enabling investors to fine-tune their strategies for maximum efficiency.

  3. Powerful Tools: Tensor provides investors with powerful tools to identify and take advantage of profitable trading opportunities. Rare-price charts enable users to easily find rare, low-value NFTs, making informed investment decisions and buying rare NFTs before they attract more attention in the market.

  1. Governance and Incentives: The TNSR token plays a key role in various aspects of Tensor, including governance, transaction fees, and incentives. This gives the community a stake in the platform's direction and growth, making it more valuable as the platform expands.

  2. High-Volume Trading: Tensor has become the largest NFT marketplace on Solana, accounting for 60-70% of the network’s daily NFT trading volume. This high volume of trading activity contributes to the platform's strength and potential for growth.

  3. Innovative Features: Tensor introduces unique financial instruments like Price Lock, allowing traders to long or short NFTs with minimal upfront fees and offering potential yields of up to 400%. This sets it apart from other NFT marketplaces and enhances the user experience.

  1. Strong Community Focus: The platform has a strong community focus, with a group of 10,000 superfans known as Tensorians who enjoy special rewards, features, and access. This community engagement is central to Tensor's ecosystem and contributes to its strength.

  2. Lucrative Staking Options: Tensor offers lucrative staking options, such as a 55.0% APY staking option on CoinUnited.io, which can maximize crypto earnings for investors.

These strengths collectively position Tensor as a pioneering NFT marketplace with a comprehensive ecosystem for traders, creators, and the community, making it an attractive investment opportunity and a robust platform for NFT trading.

Tensor's risks

Tensor (TNSR) carries several risks that investors should be aware of:

  1. Volatility of the NFT Market: The value of TNSR is closely tied to the health of the Solana NFT market. If interest in Solana NFTs wanes, it could negatively impact TNSR’s demand and price.

  2. Limited Track Record: As a relatively new crypto, TNSR has a shorter history compared to established cryptocurrencies, which can make it harder to predict its long-term performance.

  3. Dependence on the Solana Blockchain: Tensor is built on the Solana blockchain, which means that any issues or instability with Solana could also affect TNSR.

  1. Competition in the NFT Marketplace: Tensor operates in a competitive landscape, particularly against Magic Eden, which holds a significant market share. If Tensor fails to maintain its competitive edge, it could impact TNSR’s value.

  2. General Cryptocurrency Risks: Trading digital assets involves significant risk and may result in the loss of your investment. Market fluctuations, regulatory changes, and security breaches are all potential risks that could affect TNSR.

These risks highlight the importance of thorough research and careful consideration before investing in Tensor (TNSR).

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Did Tensor raise funds?

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Tensor’s team

Here is the team behind Tensor (TNSR):

  • Ilja Moisejevs: Co-Founder and CEO.
  • Richard Wu: Team member.
  • Kamran Rawji: Team member.
  • Mondoggg: Co-founder of Resonance Lab, commenting on the TNSR airdrop.

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