Tezos

Tezos is a Layer 1 blockchain and open-source platform designed for building smart contracts and decentralized applications, with an emphasis on code security, on-chain governance, and the ability to upgrade the protocol without splitting into competing forks. It targets developers and institutions that require high assurance in their applications, particularly where formal verification of smart contracts matters. The network also aims to give token holders a direct say in how the protocol evolves over time.

Tezos uses a Liquid Proof-of-Stake consensus mechanism, meaning XTZ holders can either validate transactions themselves or delegate their stake to a validator, with both groups eligible to earn rewards for helping secure the network. The on-chain governance system allows stakeholders to propose, debate, and vote on protocol upgrades, which are then applied automatically if approved, avoiding the kind of contentious hard forks seen on other networks. XTZ is the native token used to pay transaction fees, participate in staking and delegation, and vote on governance proposals.

Transaction fees are paid by users of the Tezos network and, over the trailing 30 days, totalled 3,745 USD, with the annualized figure from that same window coming to 45,564 USD. Of those fees, the protocol retained 2,371 USD over the trailing 30 days as protocol revenue, implying an annualized revenue figure of 28,847 USD and a take rate of approximately 63.3 percent over that period, with the remainder — 1,374 USD over the trailing 30 days — going to the supply side, meaning validators and delegators. Revenue over the trailing 12 months was 240,821 USD, and fees over the same period were 264,590 USD, indicating that the fee base has existed consistently but remains modest in absolute terms.