TORONTO, ON – March 31, 2026 – TenX Protocols Inc. (TSX-V: TNX) (“TenX” or the “Company”), a blockchain infrastructure company building staking solutions for the next generation of blockchain networks, is pleased to announce that the Tezos Foundation has delegated approximately 7.8 million XTZ to TenX, of which 6 million XTZ has been staked with a TenX-operated validator on the Tezos network.
The delegated and staked XTZ support TenX’s validator operations on the Tezos network and reinforce the Company’s broader strategy of operating revenue-generating staking infrastructure across multiple blockchain ecosystems. On the Tezos network, delegation and staking are distinct activities. Delegated tokens remain liquid while contributing to the validator’s baking and voting power, supporting its participation in transaction validation and network consensus. Staked XTZ, meanwhile, is temporarily locked and further increases the validator’s baking power while also contributing to the economic security of the network. By operating validator infrastructure and staking on the Tezos network, TenX earns validator-related fees, creating a recurring revenue stream for the Company.
The Tezos network is an important component of TenX’s validator-first operating model, which focuses on deploying infrastructure on blockchain networks with strong governance, technical maturity, and long-term ecosystem development. The delegation further strengthens TenX’s participation in the Tezos ecosystem as the Company continues expanding its validator footprint across next-generation blockchain networks.
“Receiving this delegation from the Tezos Foundation is an important validation of the infrastructure we are building at TenX,” said Mat Cybula, CEO of TenX. “It supports our role in helping secure the Tezos network while also contributing to the recurring revenue profile of our validator business. We view this as another step in executing our broader strategy of building institutional-grade staking infrastructure across high-quality blockchain ecosystems.”
Additional Information Regarding the Delegation
The delegation and staking described in this news release is non-custodial and is made at the discretion of the Tezos Foundation. There is no fixed term, expiry date, or minimum duration associated with the delegation, and the Tezos Foundation may undelegate or unstake its XTZ at any time. The Company does not incur any incremental third-party costs as a result of receiving this delegation.
TenX currently charges a 10% commission on staking rewards generated through assets supported by its validator on the Tezos network. The financial impact of the delegation will depend on several factors, including the amount of XTZ delegated or staked with the validator, network reward rates, validator performance, and how long the assets remain with the validator. Accordingly, the Company cannot quantify the financial impact of the delegation with certainty at this time. The Company does not currently expect the delegation, on a standalone basis, to be material to its current financial results, though it supports TenX’s broader strategy of building recurring revenue through validator operations.
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