Crypto News – The company behind the Tensor NFT marketplace, Tensor Foundation, introduced TNSR, a governance token.
Tensor Foundation Governance Token TNSR Launched on April 8
In a post on the social media platform X, the foundation stated that the action aids in implementing community governance by granting TNSR holders authority over Tensor’s parameters and fee reductions when utilizing TNSR in Tensor transactions. To claim their tokens, users have until October 5, 2024.
One billion tokens are available for TNSR. 12.5% of the total token supply is distributed in the first airdrop, with the community receiving the remaining 55% (550,000,000 TNSR). Of the overall supply, 27% will go to core contributors. The remaining eighteen percent is divided between advisors and investors, as well as future fundraising efforts.
TNSR Can Be Used to Create an Offer
A proposal requires 250,000 TNSR to create, and it has to receive 10 million to be approved. Apart from facilitating suggestions, TNSR also pays seven “prominent” third-party Solana developers to examine Tensor protocols for potentially detrimental governance assaults or malicious proposals. As payment for their security reviews, each member of the security council receives $1,000 worth of governance tokens each month.
Once the proposal has been sufficiently discussed on the forum, addressing all questions and concerns, it can be submitted for voting on Realms. Any community member with a sufficient quantity of delegated tokens is able to submit the proposal. Voting is proportional to the TNSR balance that a wallet holds. In order to vote, a token holder must deposit their tokens into Realms, or receive delegated tokens from another wallet.
the Tensor Foundation
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