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.
Solana’s Tensor NFT Marketplace Launches TNSR Token

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.

Apr 10, 2024
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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

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.

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.

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.

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.

Other breaking news

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