Solana’s Tensor NFT Marketplace Launches TNSR Token
Explore the launch of Tensor's TNSR token on Solana, Sushi Team's governance battle, SEC's ETF decision delay, and Base's surge in user engagement.
Welcome to the latest edition of Datawallet Daily. As always, we have scoured Crypto Twitter and the news to bring you the top stories of the last 24 hours:
- Solana’s Tensor NFT Marketplace Launches TNSR Token
- Sushi Team Faces Backlash Over Treasury Takeover
- SEC Delays Decision on Bitwise, Grayscale Bitcoin ETFs Options
- Base Surpasses Arbitrum in Monthly Active Addresses in April
Solana’s Tensor NFT Marketplace Launches TNSR Token
Tensor, the Solana NFT marketplace, launched its TNSR token, drawing significant attention with over $640 million in trading volume shortly after its release. Emulating BLUR’s rewards model on Ethereum, Tensor rewarded users through seasonal loot boxes, leading to significant airdrops, including one user receiving tokens worth over $1 million.
With 55% of its supply dedicated to the community, Tensor aims to leverage TNSR for protocol governance. Despite the hype, it is uncertain how this launch will shift NFT marketplace dynamics, especially against competitors like Magic Eden, which maintains a strong cross-chain presence.
$TNSR is live.
— Tensor Foundation (@TensorFdn) April 8, 2024
All treasure boxes (S1, S2 and S3) are now opened.
You have 180 days to claim your $TNSR. pic.twitter.com/SqZjAZtw9I
Sushi Team Faces Backlash Over Treasury Takeover
The Sushi project faces internal turmoil over a proposal to centralize control of its treasury, led by Jiro, a core contributor. Advocating for a Uniswap-like model, Jiro aims to safeguard assets amid governance disputes. However, strong community backlash ensues, citing a lack of oversight. Allegations of a power play by Sushi’s Ops Team further stoke controversy, with accusations of asset manipulation.
Despite defense from Sushi’s head chef, critics argue the move sidelines the DAO. This conflict underscores long-standing governance issues within Sushi, dating back to its founding and exacerbated by leadership changes. The community mourns a departure from its decentralized roots.
🍣Sushi's core team is accused of plotting a hostile takeover by proposing to create a centralized entity that would take control of $53.3 million in DAO treasury assets. The said it is trying to safeguard assets from a governance attack 👀
— The Defiant (@DefiantNews) April 8, 2024
Read More:https://t.co/7eEUEigxW9 pic.twitter.com/v83VblDK7X
SEC Delays Decision on Bitwise, Grayscale Bitcoin ETFs Options
The U.S. Securities and Exchange Commission has deferred its decision on allowing options trading for spot Bitcoin ETFs on the New York Stock Exchange, affecting Bitwise and Grayscale proposals. The delay, announced on April 8, extends the review period. The SEC is now expected to make a decision by May 29. This move mirrors a similar deferral for Nasdaq’s request regarding options trading of BlackRock’s iShares Bitcoin Trust (IBIT).
Options trading, offering traders leverage for directional bets on the market, could potentially contribute to a robust Bitcoin market, according to Grayscale’s CEO, Michael Sonnenshein, who advocated for the rule change.
#SEC defers decision on #Bitwise, #Grayscale Bitcoin #ETF options :
— TOBTC (@_TOBTC) April 9, 2024
The April 8 delay decision impacts proposed options trading on spot #Bitcoin ETFs on the New York Stock #Exchange, namely those from Bitwise and Grayscale.
The United States securities regulator has delayed its… pic.twitter.com/ehI0ObPWrO
Base Surpasses Arbitrum in Monthly Active Addresses in April
The Coinbase-backed Base layer-2 network has outpaced Arbitrum in active addresses for April, with over 1.48 million new addresses. While Arbitrum maintains a slight 30-day lead with 3.84 million addresses, Base’s April surge is noteworthy. Base recently surpassed $4 billion in total value locked and has seen increased memecoin activity. However, the network has also experienced challenges, including a rise in phishing scams.
Despite being controlled by Coinbase, plans for Base’s gradual decentralization have been outlined since its August launch, marking its evolving role in Ethereum’s layer-2 landscape.
Base also boasts the largest 30-day transaction count at 53.1 million, more than 10 million clear of Arbitrum’s 41.2 million and Ethereum’s 37.9 million over the same timeframe, according to L2BEAT.https://t.co/77yMipCUEI
— Cointelegraph (@Cointelegraph) April 9, 2024
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