Solana NFT marketplace Tensor to launch TNSR token

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Solana NFT Marketplace Tensor Set to Launch TNSR Token

The highly anticipated launch of the TNSR token by the Solana NFT marketplace Tensor is set to take place next week. Leading American cryptocurrency exchange Coinbase announced on Friday its intention to list the upcoming Solana-based token, although the specific date for the listing was not disclosed. The TNSR token is scheduled for release on April 8, to coincide with the conclusion of season 3 of Tensor’s rewards program and the commencement of season 4 trading incentives.

Referral Program and Treasure Boxes

The Tensor Foundation revealed on Twitter that participants in the referral program will receive “treasure boxes” containing TNSR tokens. These treasure boxes, including those from the previous three seasons of the program, will be accessible for viewing and opening on April 8. The foundation expressed its gratitude to the Tensorians for their contribution to the growth of the Tensor protocol, stating that an additional 1% of the TNSR supply will be claimable by stakers who remain staked until the claim date.

Market Performance and Competition

Data from Tiexo indicates that Tensor boasts the highest number of active wallets among Solana NFT marketplaces, with approximately 345,000 unique wallets in the last 30 days. Despite this achievement, rival platform Magic Eden has established dominance in terms of trading volume, holding close to 60% market share over the same period, compared to Tensor’s 35%.

Coinbase’s Listing Strategy

Coinbase has been progressively expanding its offering of Solana-based tokens, with recent listings including Bonk (BONK), Bonfida (FIDA), and Orca (ORCA). The exchange is also planning to list Shadow Token (SHDW) and Neon EVM (NEON) in the near future. Additionally, Coinbase recently announced support for Wormhole perpetual futures on its International Exchange and Advanced platforms.

In a blog post coinciding with the TNSR announcement, Coinbase emphasized its commitment to listing assets that meet their rigorous standards for legal, compliance, and technical security, irrespective of market cap or project popularity.

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Chris Jones

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