Tensor

Tensor (TNSR) is the governance token for the Tensor protocol ecosystem, a suite of decentralised trading protocols for non-fungible tokens (NFTs) built on the Solana blockchain. These protocols, managed by the Tensor Foundation, are designed to facilitate efficient and permissionless trading of NFTs with low fees, leveraging Solana's high throughput and speed. Tensor’s ecosystem includes several protocols for NFT trading, including Tensor Marketplace, a decentralised marketplace for buying and selling NFTs; Tensor AMM (Automated Market Maker), which allows for automated, permissionless NFT trading; Tensor Price Lock, an advanced protocol within the marketplace and AMM for specific price lock trades; Tensor Escrow, which handles fund escrowing across the ecosystem; and Tensor Whitelist, managing whitelisting of specific NFT collections.

The TNSR token is also involved in governance, giving holders the ability to influence protocol decisions and modify trading fees. Additionally, TNSR can be used to receive discounts on trading fees within the Tensor ecosystem.

TNSR is the primary governance token, enabling holders to propose and vote on Tensor Improvement Proposals (TIPs). These proposals fall under three categories:

• Protocol: Changes to trading fee structures or fee splits between protocols and front-end platforms.
• Process: Adjustments to governance rules or decision-making procedures within Tensor DAO.
• Operations: Initiatives for branding, marketing, and community growth.

Governance proposals are discussed on a dedicated forum before voting on Realms (a Solana-based DAO platform), followed by review by a security council for final execution. Proposals need 10 million TNSR votes to pass and are subject to a cool-off period to allow changes to votes before finalisation.