What is Tensor?

Tensor launched in July 2022 and operates primarily as an NFT marketplace on the Solana blockchain, capturing a significant portion of the market share. The TNSR token serves as the governance mechanism for both Tensor and its associated product, Vector. Protocol fees from these products accumulate in the TNSR treasury, with 50% of the fees directed to it.

Vector functions as a social trading application within the cryptocurrency space. Within its first three months, it recorded an annualized trading volume of $7.5 billion and approximately 20,000 daily active users, both metrics reportedly doubling every one to two weeks. The application generates $75 million annually in fees, of which half is allocated to the TNSR treasury.