Tensor airdrops TNSR tokens worth $250 million

Tensor, Solana’s prime NFT platform, has airdropped TNSR tokens worth $250 million, 12.5% of the complete supply, to initial users. Presently, the project is trading at a $19 total diluted valuation.

On the 8th of April, TNDR was activated for a little more than $1, soon reaching $2.23. Since then, the token has fallen while airdrop receivers sell their tokens. It is currently priced at $1.84.

As per FlipsideCrypto, Tensor is the absolute prime NFT trading platform for Solana. Its full volume stands at 3.9 million SOL, speaking of over $2 billion. It remains way ahead of the next-in-line platform, Magic Eden, by a margin of over 1.3 million SOL. Complete trading on Tensor has crossed the $6.7 million mark, of which 6.5% is being spoken of as wash trades.

A point to be noted is that an NFT collection connected with the project called Tensorians, comprising 10,000 NFTs, fell by half the value. It was observed to be trading at a low pricing of 18 SOL, approximately $3,200.

Disappointed Tensorian holders did not agree that the most prominent backers of the ecosystem were diluted.

As per Mondoggg, a pseudonym and Co-founder of Resonance Lab, an NFT platform, he felt that the team at Tensor put in all its efforts but was not clear regarding the reason for offering a base of 420 tokens to persons having a sole TX and just 1,100 tokens to a staked Tensorian.

The present airdrop stands for 12.5% of the full supply of tokens, amounting to 1 billion TNSR. The team has kept aside 55% for the community, 27% for prime contributors, 9% for investors, and 9% as reserves in case of future funding and development.

The balance, 42.5% towards the community, is going to be utilized for incentive schemes, liquidity offerings, and grants benefiting the Tensor community.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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