Tensor is the Solana NFT platform that will divide revenue generated by its social trading application, Vector, equally between TNSR’s treasury, and Tensor’s developer shop.
The Vector app is a social mobile trading application that includes a crypto wallet. Users can broadcast trades and share them with other users. With Vector adopting TNSR, the Tensor Foundation — which oversees Tensor’s token — will “steward” Tensor Labs will be building the Vector product, but the Tensor protocols are the ones that power it.
Half of Vector’s revenues will go towards the TNSR treasury. This money can then be spent on things such as airdrops or grants. Tensor gets the remaining half.
Vector can be compared to if Robinhood, X and memecoins had a child. Tensor claims that while the app is invite only, it generates more than $90,000,000 in annualized revenues from a 1 percent trading fee. That’s 10x what Tensor gets from its NFT market. According to the Flipside dashboard, Vector is receiving between 4,000-5,000 returning wallets per day.
Ilja Moisejevs, co-founder of Tensor and its CEO told me that the company created Vector as it saw NFTs dying and wanted to shift to an alternative. “1000x larger market” Memecoins are a new way to exchange currency.
According to NFT Pulse, Tensor’s NFT Platform earned $9 Million in Marketplace Trading Revenue over the last year. The Memecoin pump.fun launchpad made $9m in revenue yesterday.
Moisejevs said that the Tensor Foundation’s treasury would only gain value by Vector. However, in the future, Moisejevs explained, the community of the platform could decide to buyback and burn tokens as DEX aggregator Jupiter did.
In any event TNSR owners will be hoping that the new income stream can turn around the token’s trajectory. TNSR launched at $1.70 in April 2024, according to CoinGecko, and it now trades at $0.39 — despite the whole crypto president being elected thing that happened in between.
Vector’s ability to crack the social trading code, something that has only been tried in limited numbers before with crypto, will be key to this turnaround.
“What we think is different this time is a) memecoins are inherently social and b) we found a form factor for shared trades that people actually like,” Tensor’s co-founder Richard Wu, CTO and Co-Founder said this in a press release.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
