Tensor Launches Season 2 Reward Mining Program on NFT Marketplace
Solana’s NFT marketplace, “Tensor,” targeted at professional traders, has launched its first airdrop of lootboxes related to user rewards on March 7. The lootboxes’ specific use is not specified, but it is speculated that they will be a voucher for governance tokens in the future. The number of lootboxes distributed to users was calculated based on their Tensor usage history over the past six months. Tensor describes the treasure chest as a “gamified incentive.”
1/8 Tensor Season 1 Airdrop is now LIVE! 🎉
If you’ve traded NFTs on ANY marketplace in the last 6 months on @solana, go to @tensor_hq‘s website to claim your rewards.
If you’ve traded on TensorSwap you got 25x-50x more rewards 🔥
Season 2 starts NOW. Read more 👇 pic.twitter.com/RspKpXE69h
— Tensor | Pro NFT Trading 📈⚡️ (@tensor_hq) March 6, 2023
Tensor’s ecosystem is an NFT marketplace that offers low fees (0% for makers, 1% for takers) and a fast aggregation model. The platform also allows for NFT listings on other marketplaces such as Magic Eden and provides collective purchase/bid functions for listed NFTs. Tensor’s notification/transaction functions and UI/UX are specialized for trading.
Furthermore, Tensor has initiated the next aggregation period of reward mining, named “Season 2,” by providing liquidity. In Season 2, more rewards will be distributed than in Season 1, and only TensorSwap’s usage status will be reflected in the token distribution amount. TensorSwap is Tensor’s NFT electronic marketplace based on the AMM (automated market maker) model.
In order to earn points efficiently during Season 2, users must provide NFT liquidity under conditions close to the floor price (minimum transaction price). Conversely, no points will be awarded for bids or listings that deviate from the floor price, and wash trades will be excluded. Tensor’s incentives are designed not only to encourage trading activity but also to move NFT liquidity from other marketplaces to Tensor.
In Season 1, 25-50 times more points were awarded for providing liquidity on TensorSwap than buying and selling NFTs posted on other marketplaces on Tensor. Tensor’s marketing strategy is very similar to Blur, another NFT marketplace for professional traders in the Ethereum area, which has seen a skyrocketing volume since its token launch on February 14.
According to data from the DUNE site, Tensor’s trading volume reached a record high of 56.6 million yen ($416,200) on March 6. In addition, Tensor announced that it raised a $3 million seed round from a number of Solana-related investors, including Solana Blockchain founders, Solana Ventures, Big Brain Holdings, and multiple individuals and funds.
With its focus on professional traders and its unique incentives, Tensor is quickly becoming one of the most popular NFT marketplaces in the Solana ecosystem. The platform’s user-friendly interface and specialized features have made it an attractive option for those looking to trade NFTs. Tensor’s success is indicative of the growing interest in the NFT market and its potential for growth in the coming years.
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