- The Tensor Foundation launched its governance token TNSR
- TNSR enables Tensor fee discounts, allows holders to submit governance proposals, and provides payment for independent security reviews
- The initial airdrop comprises 12.5% of the token supply, with 5.5% allocated for the community and 2.7% for core contributors
The Tensor Foundation has launched a new governance token called TNSR on the Solana blockchain. This move aims to decentralize control and decision making for the Tensor NFT marketplace.
Details of the TNSR Token Launch
The Tensor Foundation airdropped 1 billion TNSR tokens, with 125% of the supply going to the community. Core contributors received 27% of the total supply. The remaining 18% is allocated for future fundraising, investors, and advisors.
TNSR enables users to get discounts on Tensor fees. It also allows token holders to submit governance proposals and pay independent security auditors.
Using TNSR for Governance
TNSR facilitates community governance over Tensor’s parameters and fee structure. Users need 250,000 TNSR to submit a proposal. Proposals need 10 million TNSR votes to pass.
Voting power is proportional to the number of TNSR tokens held. Voters must deposit their TNSR into Realms or receive delegated tokens to participate.
Paying for Security Reviews
The Tensor Foundation will pay seven prominent Solana developers 1000 USD worth of TNSR monthly to review Tensor’s codebase. This aims to prevent governance attacks or malicious proposals.
Conclusion
The launch of TNSR tokenizes community involvement in the Tensor NFT marketplace. It enables holders to guide decisions and fund ongoing security audits. This furthers Solana‘s mission of creating a more decentralized and community-driven blockchain ecosystem.
