NFT has become one of the most prominent trends in the cryptocurrency market in recent years. However, NFT trading is still relatively new and complex. With the desire of users to conduct NFT transactions conveniently and efficiently, Tensor — an NFT exchange platform on the Solana network has been created.
Tensor is an NFTFi solution that provides users with a smooth, fast, and secure NFT trading platform, making NFT transactions simpler and more straightforward than ever. Let’s explore more about the Tensor NFT exchange platform and the benefits it offers to users with Bigcoin below.
Tensor is an NFT trading platform on Solana — a highly scalable blockchain. With Tensor, professional NFT traders can find an efficient exchange to conduct their NFT transactions. This platform supports features such as exchange, auction, storage, conversion, and NFT management.
What is Tensor?
Dubbed as the “Blur of Solana,” developed since February 2022, Tensor began by building its first product as an oracle platform for NFTs and previously won awards in the Riptide Hackathon. Subsequently, the company pivoted to developing an NFT trading platform for pro NFT traders on Solana. Starting from the desire to create a dedicated trading platform for NFTs with faster speed, improved features, and higher coverage.
Tensor is a project on the Solana platform with two main products: Tensor Aggregator and Tensor AMM & Marketplace.
With Tensor Aggregator, users can aggregate liquidity from most major marketplaces on Solana with a user-friendly interface and real-time data updates.
Additionally, this product integrates TradingView and provides advanced analysis tools/charts for users. Tensor Aggregator does not charge fees on aggregated marketplaces, saving users costs.
The Tensor AMM & Marketplace product is the world’s first e-commerce platform combining both AMM and NFT marketplace functionalities.
It allows auctions on collections as well as instant liquidity for sellers through the “sell now” button.
Particularly, Orders are based on Bonding-curve, enabling DCA NFTs and providing a reward mechanism for early liquidity providers.
Additionally, Tensor AMM & Marketplace allows anyone to self-operate AMM and design fees. Notably, this product charges no execution fees (listing, bids, market-making) and only charges a 1% fee for takers.
When trading on Tensor, users will need to pay certain types of fees to execute NFT transactions. However, these fees will vary depending on the marketplace the user is trading on.
– Tensor Trade (Aggregator): This platform will not charge buyers’ transaction fees when trading on the aggregated marketplaces within the platform. Instead, users only need to pay the fee that the marketplace charges.
– Tensor Swap (NFT AMM): Maximum 0.1% platform fee and 0.9% royalties fee for creators.
Tensor’s Rarity Ranking mechanism is a tool to evaluate the price level of NFT collections based on the rarity rating system.
Currently, Tensor supports 4 Rarity Rating systems for each collection. 2 mechanisms (HowRare and MoonRank methodology) are automatically calculated and available on each collection, and 2 mechanisms (Trait Normalized and Team Vision) are based on HowRare’s API and are only applied to a few collections.
As of now, Tensor can be said to support most collections in the Solana ecosystem (over 10,000+ collections).
– Tensor integrates over 10,000 NFT collections on Solana, making it easy for users to find and purchase NFTs they are interested in.
– Tensor allows users to list new NFT collections immediately, making buying and selling NFTs on the platform more convenient.
– Integrates 4 rarity ranking and evaluation systems for each NFT collection, enabling users to assess prices more accurately and make smarter buying decisions.
– Has a user-friendly and easy-to-use interface, allowing users to access and use the service effortlessly.
– Tensor provides the Sweep feature, allowing users to buy a large quantity of NFTs without manually operating on each NFT.
– Provides real-time data and enhanced analysis tools for NFT collections on the blockchain, helping users make intelligent investment decisions.
Highlights
– Custom fee shaping feature: Users can set the market-making fee rate from 0–25% when using TensorSwap, while MagicEden and OpenSea do not have this feature.
– Points reward system: TensorSwap offers a points reward system for users for activities on the platform, mainly for setting orders. This encourages user interaction and usage on TensorSwap.
– Low transaction fees: TensorSwap has the lowest transaction fees among these three platforms, with a 0.1% platform fee and a maximum 0.9% fee for content creators. Meanwhile, MagicEden and OpenSea have different fee levels depending on the transaction and NFT type.
– Flexibility: TensorSwap allows users to customize various types of orders, including setting limits for entire collections and market-making orders. While MagicEden and OpenSea focus on more specific order types.
Token Name: Tensor
Token Symbol: TNSR
Total Supply: 1,000,000,000
Blockchain: Solana
Contract: TNSRxcUxoT9xBG3de7PiJyTDYu7kskLqcpddxnEJAS6
Information about the tokenomics of $TNSR:
– 55% of the total supply, equivalent to 550,000,000 $TNSR, for the community, with 12.5% of the total supply allocated for the initial airdrop. Users can claim the airdrop at https://claim.jup.ag/tnsr
– 27% of the total supply for core contributors
– 9% of the total supply (90,000,000 $TNSR) for investors & advisors
– 9% of the total supply (90,000,000 $TNSR) reserved for fundraising and future development
Core contributors, investors, and advisors: Linear vesting over 3 years with a 1-year cliff
Half of the community treasury: Linear vesting over 3 years, no cliff
The other half of the community treasury and reserves: No vesting schedule
Above is not all the information about this project, Wanna know more about this trend? Read at Theblock101.com!
Disclaimer: This article is for informational purposes only, not financial advice. Join the Bigcoinchat chat group to update the latest information about the market.
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