Tensor’s memecoin app to send 50% of revenue to TNSR treasury
Tensor's Vector app, a mobile social trading platform with a crypto wallet, is set to distribute 50% of its revenue to the TNSR treasury, while the remaining half will support Tensor's developer efforts. Vector, which charges a 1% trading fee, is currently generating an annualized revenue exceeding $90 million, significantly outperforming Tensor's previous NFT marketplace revenue of $9 million. Co-founder Ilja Moisejevs noted that the shift towards memecoins represents a strategic pivot from the declining NFT sector to a vastly larger market. The Tensor Foundation will manage the treasury, which can fund initiatives like airdrops and grants, with potential future community votes on token buybacks and burns. Vector aims to innovate in social trading by leveraging the social aspects of memecoins. Despite the optimism, TNSR token has fallen from its initial $1.70 to $0.39, underscoring the challenges ahead in capitalizing on this new revenue stream.
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