Tensor NFT Platform Launches TNSR Token, Distributes $250 Million Airdrop
The TNSR token debuted at a starting price of $1.19 USD and was distributed to users who had interacted with the Tensor NFT platform in recent months.
The project disclosed that 12.5% of the total supply, equivalent to 125 million tokens, would be allocated for the airdrop.
$TNSR is live.
— Tensor Foundation (@TensorFdn) April 8, 2024
All treasure boxes (S1, S2 and S3) are now opened.
You have 180 days to claim your $TNSR. pic.twitter.com/SqZjAZtw9I
Users have until October 5, 2024, to claim their airdrop rewards.
Additionally, TNSR was listed on several major exchanges overnight, including Binance and OKX. Starting at $1.19 USD, TNSR quickly surged to $2.23 USD within an hour and is currently trading around $1.7 USD per token.
According to the Tensor Foundation, TNSR holders will have voting rights on proposals related to the NFT marketplace and will enjoy trading fee discounts of up to 25% on Tensor protocols.
Notably, the Tensorian NFT collection, comprising 10,000 NFTs, experienced a significant drop of over 50% in value, with a floor price of 18 SOL (approximately $3,200 USD) on platforms like Magic Eden.
Many Tensorian holders expressed dissatisfaction with the TNSR airdrop allocation. Mondoggg, co-founder of Resonance Lab, commented:
"I understand Tensor's efforts, but why allocate 420 tokens to users with only 1 transaction, while only 1,100 tokens are allocated to Tensorian holders?"
Not one to complain about an airdrop, I know that @0xrwu and the @tensor_hq team worked hard, but why did you give a base of 420 tokens to people with a single tx and only ~1,100 tokens for a staked tensorian? Feels like we got super diluted and you hurt your biggest supporters.
— Mondoggg (@mondoggg) April 8, 2024
According to on-chain data from Flipside, users have traded over $2.1 billion USD on Tensor in the past 90 days, accounting for more than 70% of the total NFT volume on Solana and surpassing Magic Eden since late April 2023.
