Solana Marketplace Tensor to Debut Anticipated TNSR Token Next Week; Coinbase Listing Confirmed

Coinbase plans to list the upcoming Solana-based TNSR token, which is expected to debut alongside the conclusion of the third phase of Tensor's rewards program and the launch of Season 4 trading incentives. Tensor will reportedly distribute "treasure boxes" containing TNSR tokens to users participating in its referral program.

Solana's Tensor Marketplace to Unleash Anticipated TNSR Token Next Week, Coinbase to List

In a move poised to bolster the Solana ecosystem, the popular non-fungible token (NFT) marketplace Tensor is set to launch its long-awaited TNSR token within the coming week, with leading American cryptocurrency exchange Coinbase announcing plans on Friday to list the upcoming Solana-based token.

While Coinbase did not specify when the TNSR token would be listed, the digital asset is scheduled to go live on April 8th. The TNSR launch will coincide with the completion of Season 3 of Tensor's rewards program and the commencement of Season 4 trading incentives.

According to a tweet from the Tensor Foundation, participants in the referral program will receive "treasure boxes" containing TNSR tokens. The Tensor Foundation noted that all treasure boxes from the first three seasons of the program will become viewable and openable on April 8th.

"Tensorians have played a vital role in the growth of the Tensor protocol to date. Therefore, an additional 1% of the TNSR supply will be claimable by those Tensorians who remain staked as of the claim date," the Tensor Foundation stated on Twitter, adding that this claimable supply is in addition to any allocations earned through points.

Tensor boasts the highest amount of active wallets compared to any Solana NFT marketplace, according to data from Tiexo, with approximately 345,000 unique wallets over the past 30 days. This figure is more than double that of rival Magic Eden—however, Magic Eden has recently led in terms of trading volume, capturing nearly 60% of the market share over the past 30 days compared to Tensor's 35%.

Coinbase has been ramping up its Solana token listings as of late. In December, Coinbase listed the immensely popular Solana meme coin Bonk (BONK). The Bonk and TNSR listings follow Coinbase's previous listings of other Solana-based tokens, Bonfida (FIDA) and Orca (ORCA).

Coinbase's upcoming Solana-based token listing roadmap includes Shadow Token (SHDW) and Neon EVM (NEON).

On Wednesday, cross-chain protocol Wormhole (W) launched an airdrop campaign to over 400,000 wallets across Solana and other chains. Coinbase announced that the exchange will also add support for Wormhole perpetual futures on Coinbase International Exchange and Coinbase Advanced.

"Our goal is to list every asset that meets our standards for legal, compliance, and technical security. These standards do not take into account the market capitalization or popularity of a project," Coinbase stated in a blog post shared with the TNSR announcement.

Edited by Ryan Ozawa

Stay on top of crypto news, get daily updates in your inbox.