What is Tensor? Tensor is an NFT Marketplace platform deployed on Solana that allows users to trade NFTs easily.
Recently, Tensor is a name mentioned a lot in the NFT trading market on Solana. Many people have compared Tensor to “Blur Of Solana” Although it has just been launched for a while, the daily trading volume has already surpassed Magic Eden – the leading NFT Marketplace on Solana at that time. So what is so special about this project that it gets so much attention? Let’s find out with Weakhand in this article.
What is Tensor?
Overview of Tensors
Tensor is a platform NFT Marketplace deployed on Solana. With Tensor, users, especially traders, can trade NFTs with many support tools such as: TradingView integrated price charts, buying and selling actions, advanced charts/analysis,…
What is Tensor?
Tensor has two main products: Tensor Aggregator and TensorSwap. Combining two products on one platform smoothly helps the amount of liquidity on Tensor increase significantly, this has been a long-standing weakness in the NFT market and Tensor has done very well to improve this. .
With Tensor Aggregator: Liquidity is aggregated from all current NFT trading markets on Solana such as: HadeSwap, Magic Eden, Solanart,… Tensor does not charge any transaction fees, the amount of fees users pay comes from NFT Original Marketplace. For example, if Magic Eden charges 2%, the total fee paid by the user is 2%.
With TensorSwap – this is an AMM NFT built by Tensor itself. TensorSwap applies the Concentrated Liquidity AMM model (concentrated liquidity AMM), which is also the trend that current AMM Dex such as: PancakeSwap, Uniswap V3,… are applying with the advantage of bringing a large amount of liquidity as well as like helping LPs receive more fees for providing liquidity.
Tensor’s operating mechanism
For buyers:
- Place a Sweep order: The amount of liquidity is compiled by Tensor from the 5 largest NFT Marketplace platforms in Solana today.
- Place Bid order: Set parameters such as: Start Price – price to start buying the first NFT, Decrease By – Price reduced by 1 tael% when someone sells NFT.
For sellers: Users can list NFTs on the platform for immediate sale with liquidity aggregated from TensorSwap or HadeSwap.
In addition, Tensor also supports LPs in providing liquidity through Market – Making. LPs can set parameters for the Pool such as: Start Price – First NFT selling price, Change By – Price changes by a certain % when someone buys or sells NFTs in the Pool, Desired Fee – Amount of fees earned through each transaction.
What is the difference between Tensor?
Some highlights on Tensor are:
- Tensor applies 0% fees to the Listing, Bids, Market-Making process.
- The number of NFT collections is diverse and large with over 10,000 collections currently available on Solana.
- The interface is designed for Traders with many support tools such as: TradingView chart, Attribute filter, ….
- Supports many people participating in the platform from: Traders, Collectors, Liquidity Providers, etc.
Road Map
Tensor builds a long roadmap with expected development features such as:
- Automation & NFT sniping
- Margin/leverage
- Perps/derivatives
- Supports other platform Blockchains.
- Single login for multiple wallets.
- Advanced transaction analysis
Core Team
Ilja Moisejevs : Co Founder & CEO
- He has worked at Bank of America as an IBD Analyst since 2015.
- In 2016, he joined GoCardless as Product.
- After that, he quit his job and joined Calypso AI as a Founding Engineer.
- In January 2022, he started his business and founded Tensor. Currently, he is CEO at Tensor.
Richard Wu : Co Founder & CTO
- He graduated with a bachelor’s degree in computer science from the University of Waterloo.
- He had a short time as an intern at Google, Shopify, etc. Then, he joined Two Sigma in August 2019.
- He quit his job and joined Tensor in March 2022 and is currently CTO at Tensor.
Investor
Funds investing in Tensor
March 7, 2023: Tensor announced its successful $3M call led by Placeholder. There are also a number of other investment funds such as: Solana Ventures, Anatoly, …
Tokenomics
Update…
Information Channel of Tensor Project
- Website: https://www.tensor.trade/
- Twitter: https://twitter.com/tensor_hq
- Medium:
summary
Tensor has a unique combination of two models: Aggregator and AMM, creating a well-liquidated market for NFT trading. Hopefully the information I provide in this article has helped everyone gain interesting knowledge about Tensor.
