TENA protocol
TENA protocol (TenX Protocols Inc.) is a Singapore-headquartered, Ontario-incorporated blockchain infrastructure company providing digital asset staking and validation services across Solana, Sui, and Sei. It debuted publicly on the TSX Venture Exchange under ticker TNX in December 2025.
- Company typePublic
- Founded2017
- HeadquartersSingapore, Singapore
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What TENA protocol does
TENA protocol, operating as TenX Protocols Inc. and incorporated under Ontario law, is a blockchain infrastructure company that delivers digital asset staking and validation services across high-performance Layer 1 networks including Solana, Sui, and Sei. The company positions itself as a multi-network infrastructure provider serving enterprise clients seeking reliable Layer 1 blockchain support, with stated capability spanning digital asset staking, validation, and broader blockchain infrastructure deployment for crypto enterprises and Layer 1 network operators.
The company's product surface centers on a single core offering — blockchain infrastructure services running across Solana, Sui, and Sei — with the multi-network footprint cited as both a reliability and network-effects differentiator. The legal entity completed a qualifying transaction with Iocaste Ventures Inc. via a three-cornered amalgamation, received conditional TSX Venture Exchange approval in late November 2025, and began trading under ticker TNX in December 2025.
Go-to-market targets enterprise and institutional clients in blockchain infrastructure using direct sales engagement. Revenue mechanics are described as subscription/recurring from blockchain infrastructure services, though pricing is not publicly disclosed. The company is also identified as a DeFi Technologies advisory and venture investment client, suggesting a strategic-advisory relationship alongside its public-market presence. Capital raised across 2025 — roughly US$29.9 million in private placement and a concurrent C$33 million financing tied to the TSXV listing — is allocated to strategic acquisitions and working capital, indicating growth is expected to be at least partly inorganic.
TENA protocol firmographics
Firmographics- Name
- TENA protocol
- Legal name
- TenX Protocols Inc.
- Website
- https://tenaprotocol.io
- Company type
- Public
- Founded year
- 2017
- Operating status
- Ipo
- Headcount range
- 11–50 employees
- Short description
- TENA protocol (TenX Protocols Inc.) is a Singapore-headquartered, Ontario-incorporated blockchain infrastructure company providing digital asset staking and validation services across Solana, Sui, and Sei. It debuted publicly on the TSX Venture Exchange under ticker TNX in December 2025.
- Ownership category
- akta.pro rank
TENA protocol industry classification
Industry- Product category
- Blockchain Infrastructure
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Restaking & Shared Security Services (FSADAHAH)
- akta.pro secondary industry
- Layer 1 Base Protocols & Consensus (execution, consensus, security, clients) (FSAPAAAA)
Keywords
Where TENA protocol is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Markets served
TENA protocol business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations
Revenue model
- Blockchain Infrastructure Services: Revenue generated from providing blockchain infrastructure services including digital asset staking and validation across Layer 1 networks
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
TENA protocol product offering
Product offeringCore offering
TENA protocol (TenX Protocols Inc.) provides blockchain infrastructure services centered on digital asset staking and validation across multiple high-performance Layer 1 networks, including Solana, Sui, and Sei. The company operates as a publicly listed entity on the TSX Venture Exchange under ticker TNX, offering recurring infrastructure services to enterprise and crypto clients rather than a consumer-facing product.
Product overview
TENA protocol (TenX Protocols Inc.) operates as a blockchain infrastructure company focused on digital asset staking and validation services across high-performance Layer 1 networks. The company went public on the TSX Venture Exchange under ticker TNX in December 2025 following a C$33 million financing.
Differentiator
Problem solved
Functional benefit
Products and services
- Blockchain Infrastructure Services (Digital Asset Staking and Validation) Recurring blockchain infrastructure services for digital asset staking and validation, operating across high-performance Layer 1 networks including Solana, Sui, and Sei. Targeted at enterprises and protocols that require reliable third-party validation and staking infrastructure.
Companies that use TENA protocol
Customer profileSegments2 records
Ideal customer profiles1 record
TENA protocol technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
TENA protocol partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Iocaste Ventures Inc.coreIocaste Ventures Inc. and TenX Protocols Inc. completed a qualifying transaction involving a three-cornered amalgamation under Ontario law, resulting in TenX Protocols listing on TSX Venture Exchange. The transaction was conditionally approved by TSX Venture Exchange and expected to close around December 2, 2025.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
TENA protocol competitors and assessment
Company assessmentDirect peers
- P2P Validator: P2P Validator runs non-custodial staking infrastructure across 40+ networks including Solana and Sui. Closely comparable in scale, target market, and service offering.
- Figment: Figment is one of the largest independent blockchain infrastructure providers offering institutional staking and validator services across multiple Layer 1 networks including Solana and Sui. Direct overlap with TenX's core staking/validation offering on the same L1s.
- Blockdaemon: Blockdaemon provides institutional-grade blockchain node and staking infrastructure across many Layer 1 networks. Directly overlaps with TenX in multi-chain validator services targeting enterprise clients.
- Kiln: Kiln offers enterprise staking-as-a-service and white-label validator infrastructure across multiple L1s including Solana and Sui. Comparable offering and customer segment to TenX.
- Chorus One: Chorus One operates validators across a similar roster of high-performance Layer 1 networks and provides staking-as-a-service to institutional and retail clients. Highly comparable business model and multi-L1 footprint.
Broad incumbents
- Galaxy Digital: Galaxy Digital is a publicly listed crypto financial services firm with a substantial institutional staking business. Provides broader capital markets and distribution scale that exceeds TenX but operates in the same core service category.
- Coinbase Cloud: Coinbase Cloud provides institutional staking and node infrastructure across many L1s as part of Coinbase's broader crypto exchange business. Overlaps with TenX in validator services but at vastly larger scale.
- Anchorage Digital: Anchorage Digital is a federally chartered digital asset bank offering institutional custody combined with staking services. Competes with TenX for institutional staking mandates on regulated rails.
Emerging players
- Marinade Finance: Marinade is a Solana-native liquid staking protocol that aggregates stake to validators. Represents protocol-level competition for Solana staking flow that could pressure TenX's Solana economics.
Others
- DeFi Technologies: DeFi Technologies is a publicly listed crypto asset manager and TenX's strategic advisory/venture partner. Not a direct competitor but a relevant ecosystem participant and capital markets reference point.
Market position
Strengths3 records
Weaknesses4 records
Competitive moat2 records
Key risks6 records
Key highlights5 records
Customer concentration
TENA protocol social profiles
Digital presenceTENA protocol financial estimates
Financial estimateRevenue estimate
Valuation estimate
TENA protocol leadership team
Management profileNumber of profiles
TENA protocol funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TENA protocol M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TENA protocol
What does TENA protocol do?
TENA protocol (TenX Protocols Inc.) provides blockchain infrastructure services centered on digital asset staking and validation across multiple high-performance Layer 1 networks, including Solana, Sui, and Sei. The company operates as a publicly listed entity on the TSX Venture Exchange under ticker TNX, offering recurring infrastructure services to enterprise and crypto clients rather than a consumer-facing product.
Is TENA protocol a public or private company?
TENA protocol is a public company. It is classified as public and is currently ipo.
When was TENA protocol founded?
TENA protocol was founded in 2017. It employs 11 to 50 people.
Where is TENA protocol based?
TENA protocol is headquartered in Singapore, Singapore, in the Asia region.
How does TENA protocol make money?
One revenue line is on record: blockchain Infrastructure Services.
Who are TENA protocol's main competitors?
Direct peers on record are P2P Validator, Figment, Blockdaemon, Kiln and Chorus One. Broad incumbents are Galaxy Digital, Coinbase Cloud and Anchorage Digital. Marinade Finance is listed as an emerging player. DeFi Technologies is listed as an others.
Does TENA protocol have an API?
No public API is recorded for TENA protocol.
What industry is TENA protocol in?
TENA protocol's product category is Blockchain Infrastructure. Its primary akta.pro industry code is FSADAHAH, Restaking & Shared Security Services, with a secondary code of FSAPAAAA, Layer 1 Base Protocols & Consensus (execution, consensus, security, clients). Its NAICS code is 5182 and its SIC code is 6200.