A Solana NFT marketplace and trading protocol that launched the TNSR governance token in April 2024. Tensor provides advanced trading features including collection-level bidding, real-time price feeds, and lending against NFT collateral. It competes with Magic Eden as a primary NFT trading venue on Solana.
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A Solana NFT marketplace and trading protocol that launched the TNSR governance token in April 2024. Tensor provides advanced trading features including collection-level bidding, real-time price feeds, and lending against NFT collateral. It competes with Magic Eden as a primary NFT trading venue on Solana.
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Think of it as a market mechanic used to price, route, or move capital through liquidity apps.
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AMMs, routing, liquidity, lending, and trading infrastructure.
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Tensor (tensor) Category: DeFi Definition: A Solana NFT marketplace and trading protocol that launched the TNSR governance token in April 2024. Tensor provides advanced trading features including collection-level bidding, real-time price feeds, and lending against NFT collateral. It competes with Magic Eden as a primary NFT trading venue on Solana. Aliases: Tensor Trade, TNSR Related: NFT (Non-Fungible Token), Compressed NFT (cNFT)
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A non-fungible token on Solana—an SPL token with 0 decimals, supply of 1, and revoked mint authority. The NFT's metadata (image, attributes) is stored off-chain (Arweave/IPFS) linked via the Metaplex metadata account's URI field. NFTs can be standard, compressed (cNFT), programmable (pNFT), or Core assets, each with different trade-offs.
An NFT stored as a leaf in an on-chain Merkle tree via State Compression, reducing minting cost by ~1,000-5,000x. Only the tree root hash is stored on-chain; leaf data is indexed off-chain. A 1M cNFT collection costs ~50 SOL vs ~12,000 SOL for standard NFTs. Created via the Bubblegum program; transfers require Merkle proofs.
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A non-fungible token on Solana—an SPL token with 0 decimals, supply of 1, and revoked mint authority. The NFT's metadata (image, attributes) is stored off-chain (Arweave/IPFS) linked via the Metaplex metadata account's URI field. NFTs can be standard, compressed (cNFT), programmable (pNFT), or Core assets, each with different trade-offs.
An NFT stored as a leaf in an on-chain Merkle tree via State Compression, reducing minting cost by ~1,000-5,000x. Only the tree root hash is stored on-chain; leaf data is indexed off-chain. A 1M cNFT collection costs ~50 SOL vs ~12,000 SOL for standard NFTs. Created via the Bubblegum program; transfers require Merkle proofs.
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A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.
An AMM design where liquidity providers concentrate their capital within specific price ranges instead of across the full 0-to-infinity range. CLMMs dramatically improve capital efficiency—LPs earn more fees per dollar deposited within their active range. If the price moves outside the range, the position becomes inactive. Orca Whirlpools and Raydium CLMM are leading implementations on Solana.
A smart-contract-held reserve of two or more tokens that enables trading via an AMM. Users deposit token pairs in specified ratios to become liquidity providers and earn trading fees. Pools are identified by their token pair and fee tier. Pool depth (total value locked) determines price impact for trades.
A token issued to liquidity providers representing their proportional share of a pool's reserves and accrued fees. LP tokens can be burned to withdraw the underlying assets. The value of LP tokens changes as the pool's token ratios shift and fees accumulate. LP tokens are often stakeable in yield farming programs for additional rewards.