Tensor, Solana’s prominent NFT platform, has distributed $250 million worth of TNSR tokens, constituting 12.5% of the total token supply, to early adopters. The project’s current valuation stands at a fully diluted $1.9 billion.
TNSR made its debut on April 8, starting at slightly over $1 and quickly surging to $2.23 within an hour. Subsequently, the token’s value experienced fluctuations as recipients claimed and traded their airdropped tokens, stabilizing at $1.84.
Eligible participants can claim their TNSR airdrops through the provided link.
According to data from FlipsideCrypto, Tensor leads Solana’s NFT trading platforms significantly. With a total volume of 3.9 million SOL (equivalent to over $2 billion), it surpasses its closest competitor, Magic Eden, by over 1.3 million SOL. The platform has facilitated more than 6.7 million trades, with approximately 6.5% being categorized as wash trades.
Notably, a related NFT collection known as Tensorians, comprising 10,000 NFTs, experienced a sharp decline of 50% in value today, trading at a floor price of 18 SOL, approximately $3,200.
Some disgruntled holders of Tensorians voiced their dissatisfaction on X, expressing concerns about the dilution of the ecosystem’s most ardent supporters.
Mondoggg, co-founder of the NFT platform Resonance Lab, questioned the allocation strategy, particularly regarding the discrepancy in token distribution between single transaction users and staked Tensorian holders. He noted that it felt like a significant dilution for the dedicated supporters.
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
The recent airdrop represents 12.5% of the total TNSR token supply, which amounts to 1 billion TNSR tokens. The distribution breakdown allocates 55% to the community, 27% to core contributors, 9% to investors and advisors, and reserves 9% for future funding and development initiatives.
The allocated 42.5% for the community will be utilized for incentive programs, liquidity provisioning, and grants aimed at fostering the growth and sustainability of the Tensor ecosystem.
