{"id":"tezos-xtz","title":"Tezos (XTZ)","content":"**XTZ** is the native [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) of the [Tezos](https://iq.wiki/wiki/tezos) [blockchain](https://iq.wiki/wiki/blockchain). It was created in 2014 by [Arthur](https://iq.wiki/wiki/arthur-breitman) and [Kathleen Breitman](https://iq.wiki/wiki/kathleen-breitman). It pays transaction and [smart contract](https://iq.wiki/wiki/smart-contract) execution fees in the [Tezos ecosystem](https://iq.wiki/wiki/tezos). [\\[1\\]](#cite-id-u1lzbow0mph)\n\n$$widget0 [YOUTUBE@VID](Umy75ihttwo)$$\n\n# Overview\n\nXTZ is the native [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) of [Tezos](https://iq.wiki/wiki/tezos), a decentralized, [proof-of-stake](https://iq.wiki/wiki/proof-of-stake) [blockchain](https://iq.wiki/wiki/blockchain) designed to support [smart contracts](https://iq.wiki/wiki/smart-contract), [decentralized applications (dApps)](https://iq.wiki/wiki/decentralized-application), and tokenized assets such as [NFTs](https://iq.wiki/wiki/non-fungible-token-nft). The network features a self-amending governance system, where protocol upgrades are proposed, voted on, and implemented on-chain without requiring [hard forks](https://iq.wiki/wiki/hard-fork). This approach allows the platform to evolve securely and transparently over time, with community members actively participating in its development and decision-making processes. [\\[4\\]](#cite-id-3HJ80w9FAC) [\\[5\\]](#cite-id-tdHRRfWxAf)\n\n# Funding\n\nThe [Tezos](https://iq.wiki/wiki/tezos) [Initial Coin Offering (ICO)](https://iq.wiki/wiki/initial-coin-offering) is considered one of the largest ICOs in history, having raised $232 million in 2018. [\\[2\\]](#cite-id-bnxd7vhzagn)\n\nAt the end of its crowd sale, [Tezos](https://iq.wiki/wiki/tezos) had raised 65,627 [BTC](https://iq.wiki/wiki/bitcoin-btc) and 361,122 [ETH](https://iq.wiki/wiki/ethereum). The [ICO](https://iq.wiki/wiki/initial-coin-offering), which started on July 1 and coincided with the passage of 2,000 transaction blocks on the [Bitcoin](https://iq.wiki/wiki/bitcoin) network, did not have a cap on the total amount of tokens sold. This fundraising surpassed the previous record set by [Bancor](https://iq.wiki/wiki/bancor), a platform for launching new [blockchain](https://iq.wiki/wiki/blockchain) tokens, which raised $150 million in mid-June 2017. [\\[3\\]](#cite-id-j019gfi6fgm)\n\n# Tokenomics\n\nThe total supply of XTZ is unlimited. Inflationary rewards are issued to stakers. Assuming that not all XTZ is staked at any given time, stakers and delegators can expect their annualized rewards to exceed the issuance of new XTZ. Those who hold XTZ but choose not to [stake](https://iq.wiki/wiki/staking) or delegate their tokens will experience dilution over time due to new token issuance.\n\nThe distribution of the initial token supply was as follows: [\\[1\\]](#cite-id-u1lzbow0mph) [\\[5\\]](#cite-id-tdHRRfWxAf)\n\n* 79.50% was allocated to **ICO participants**\n* 0.41% to **early backers and contractors**\n* 10% to the **Tezos Foundation**\n* 10% to **Dynamic Ledger Solutions**\n\n![chart\\_showing\\_Breakdown\\_of\\_the\\_initial\\_XTZ\\_token\\_supply-2.png](https://ipfs.everipedia.org/ipfs/QmRtvWLYPFhjSRcAnJdiY1ccsLKrwxUx6M3BtPk1NrvV4s)\n\n# Utility\n\nXTZ is used to pay [transaction fees](https://iq.wiki/wiki/transaction-fee) and execute [smart contracts](https://iq.wiki/wiki/smart-contract) within the [Tezos](https://iq.wiki/wiki/tezos) network. Token holders can participate in securing the network by [staking](https://iq.wiki/wiki/staking) their XTZ, either by running [validator](https://iq.wiki/wiki/validator) [nodes](https://iq.wiki/wiki/node) (bakers) or by delegating to other [validators](https://iq.wiki/wiki/validator). Stakers earn newly minted XTZ as rewards, proportional to their contribution. The token also plays a central role in [Tezos’](https://iq.wiki/wiki/tezos) on-chain governance—holders can vote on protocol proposals or delegate their voting rights, allowing even non-technical users to influence the network’s direction. Additionally, developers who propose and successfully pass upgrades may receive XTZ rewards, further incentivizing community-led innovation. [\\[4\\]](#cite-id-3HJ80w9FAC) [\\[5\\]](#cite-id-tdHRRfWxAf)","summary":"Tezos (XTZ) is a decentralized, open-source blockchain network with a native cryptocurrency, featuring smart contracts and a proof-of-stake consensus mechanism.","images":[{"id":"QmPcQ6XyhEGrZDFzdLenkfEZuXzvBLZNNhQhwJJxaXDJ6a","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptoassets","title":"Cryptoassets"}],"tags":[{"id":"Infrastructure"}],"media":[{"id":"QmRtvWLYPFhjSRcAnJdiY1ccsLKrwxUx6M3BtPk1NrvV4s","size":"0.22","name":"chart_showing_Breakdown_of_the_initial_XTZ_token_supply-2.png","type":"GALLERY","source":"IPFS_IMG"},{"id":"https://www.youtube.com/watch?v=Umy75ihttwo","size":"0","name":"Umy75ihttwo","type":null,"source":"YOUTUBE"}],"metadata":[{"id":"references","value":"[{\"id\":\"u1lzbow0mph\",\"url\":\"https://www.coinbase.com/es/institutional/research-insights/research/tokenomics-review/tezos-xtz-differentiated-governance\",\"description\":\"Coinbase\",\"timestamp\":1680247529756},{\"id\":\"bnxd7vhzagn\",\"url\":\"https://kriptomat.io/cryptocurrencies/tezos/what-is-tezos/\",\"description\":\"Kriptomat\",\"timestamp\":1680247563654},{\"id\":\"j019gfi6fgm\",\"url\":\"https://www.coindesk.com/markets/2017/07/13/232-million-tezos-blockchain-project-finishes-record-setting-token-sale/\",\"description\":\"Coindesk\",\"timestamp\":1681657183647},{\"id\":\"3HJ80w9FAC\",\"description\":\"What is Tezos | Tezos \",\"timestamp\":1751286213485,\"url\":\"https://tezos.com/learn/what-is-tezos/\"},{\"id\":\"tdHRRfWxAf\",\"description\":\"What is Tezos? 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