coindesk.com
TenX Protocols(TSX-V:TNX), a publicly listed blockchain infrastructure company, has purchased 5.5 million tez (XTZ), the native token of the Tezos blockchain, as part of a strategic staking partnership with the Tezos Foundation, the company said Tuesday.
TenX paid an average of $0.5868 per XTZ, acquiring about 5,542,935 tokens through a combination of open-market and over-the-counter purchases completed between Jan. 2 and Jan. 19. The purchase was funded using cash on hand from a prior financing round that closed in August 2025.
The deal supports TenX’s “validator-first” model, in which the firm earns revenue by operating the infrastructure that secures proof-of-stake networks and generates staking rewards.
XTZ traded around $0.58 at about 13:00 UTC, down roughly 8% from the prior night.
TenX said it plans to stake the tokens through its own validators to generate recurring income. Filip Cybula, TenX’s co-founder and COO, told CoinDesk that a “reasonable benchmark” for Tezos staking yield is 8% to 10% annually before costs, depending on network conditions. TenX expects staking rewards and related revenue to be reflected in its normal public disclosure, including financial statements and management discussion and analysis.
As part of the partnership, the Tezos Foundation stated it intends, subject to customary due diligence and internal approvals, to delegate a portion of its XTZ holdings to TenX-operated validators. Cybula said the planned delegation does not come with governance expectations or influence over protocol upgrades. “Delegation is about staking, not governance control,” he said, adding that TenX votes independently on Tezos upgrades.
TenX said it chose Tezos over higher-profile ecosystems such as Ethereum and Solana due to its governance model, track record of live upgrades and technical maturity. Cybula said TenX’s diligence process prioritizes validator risk, decentralization, token economics and operational feasibility.
TenX stated it is pursuing similar strategic partnerships across other proof-of-stake ecosystems, though it declined to name specific targets. Cybula said whether more public companies will compete for protocol delegation will depend on how participation evolves. “If delegation flows toward operators that invest in reliability, security, transparency, and community contribution, it can strengthen validator quality and network resilience,” he said.