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About Tezos
XTZ, also known as 'tez' or 'tezzie', is the native utility and governance token of the Tezos blockchain. It is used to pay for transaction fees, execute smart contracts, and secure the network through a Liquid Proof-of-Stake (LPoS) consensus mechanism. XTZ holders can participate in the network's unique on-chain governance system by delegating or 'baking' (staking) their tokens to vote on protocol upgrades, allowing the platform to self-amend and evolve without the need for hard forks. The asset plays a central role in the Tezos ecosystem, supporting decentralized finance (DeFi), decentralized applications (dApps), and non-fungible token (NFT) projects.
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