Solana-based NFT trading platform Tensor said Tuesday it will issue a token, $TNSR, whose holders will govern the protocol.
In a post on X (formerly Twitter) the Tensor Foundation said more details about the token’s release will come “soon.” It did not state whether there would be an airdrop.
“Shortly, Tensor protocols will be adopted by the Tensor Foundation and governed by the Tensor community using $TNSR,” the post read.
Since December a spate of crypto finance projects in the Solana blockchain ecosystem have released tokens in attempts to “decentralize” their governance. Holders of these tokens get to vote on the directions of their protocols. Oftentimes those who have used the protocol heavily – by, say, trading hundreds of NFTS – get bigger allocations of the token.