Tensor, a player in the NFT market on the Solana blockchain, is set to unveil its Governance Token. The team behind the project recently announced their plans to launch the $TNSR token, putting power directly in the hands of the community and taking a significant step towards decentralization.
The announcement was made on X (formerly Twitter) by the Tensor Foundation, who promised to release more details about the token launch in the near future. This news has generated anticipation among users and investors, particularly because it remains unclear whether there will be an airdrop, a common practice that rewards existing users with free tokens.
Introducing $TNSR – the future of NFT trading. $TNSR will govern the Tensor protocols, which have already facilitated over $2 billion worth of NFT trades on the Solana blockchain, known for its speed and scalability.
The post from the Tensor Foundation stated, “Soon, Tensor protocols will be adopted by the Tensor Foundation and governed by the Tensor community using $TNSR,” indicating a new era of community involvement and influence in shaping the platform’s future decisions.
This development is not exclusive to the Solana ecosystem, which is renowned for its efficiency and low transaction costs, making it an ideal platform for NFT creation and trading. Since December, numerous projects on this blockchain have taken a similar approach, launching their own tokens to decentralize governance. This empowers token holders to have a voice in the future direction of the protocol, with those who contribute or use the service the most, such as active NFT traders, receiving larger allocations of the token.
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