Month At A Glance — August 2026

A quick rundown of the latest happenings and significant milestones within the Tezos ecosystem for August 2026.

10 minute read

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Welcome to our latest issue, Month At A Glance (August 2026), where we give a quick rundown of the latest happenings and significant milestones in the Tezos ecosystem on a monthly cadence.

August turned out to be another active month for Tezos, with progress happening across the core technology, real-world assets, developer tooling, digital art, and the wider community. Some of it came through major milestones, while other developments were smaller pieces that continued pushing different parts of the ecosystem forward.

Let’s break it all down.

Ecosystem Insights #

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We ended July with Etherlink 7.0, codenamed Ganesha, entering governance. At the time, we covered it as one of the biggest steps toward Tezos X so far, bringing the Michelson interface and Native Atomic Composability to Etherlink. August gave us the rest of that story.

During continued testing of the original proposal, developers discovered a security vulnerability in the proposed kernel. Bakers were asked not to support it, and because the upgrade had not yet activated, Etherlink mainnet was never exposed to the issue. The corrected kernel was later resubmitted on August 19 through Etherlink’s fast governance process, with additional hardening and another security fix affecting the existing mainnet version folded into the update.

The corrected proposal passed governance and Etherlink 7.0 officially activated on August 21. The promotion vote reached a 40.11% quorum, a new record for Etherlink governance.

And this is where things get especially interesting. Ganesha introduces a Michelson interface directly on Etherlink, allowing Michelson smart contracts and Tezos-style accounts to operate alongside the existing EVM environment. It also brings Native Atomic Composability, or NAC, which allows contracts from the two interfaces to call each other within the same atomic transaction.

Shortly after activation, we also saw the first cross-runtime transaction between a Michelson contract and an EVM contract on mainnet. It was a small demonstration, but an important one. Something we first saw as part of the Tezos X Previewnet is now working on the live Etherlink network.

There is still more work ahead before the complete Tezos X experience is here, especially around end-user tooling and making everything feel like one unified network. But Ganesha brings some of its most important architectural pieces onto mainnet today, making August one of the biggest months on the Tezos X roadmap so far.

Metals.io Makes Its Way Into the Financial Times #

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Metals.io has been showing up quite a lot in these monthly recaps lately, and August gave us another good reason to talk about it.

On August 13, the Financial Times published a feature looking at the growing intersection between digital assets and global commodities, with Metals.io featured prominently in the discussion. The article explored the platform’s tokenized approach to metals such as uranium, nickel, and cobalt, putting one of the more interesting real-world asset projects on Tezos in front of a very different audience from the one we usually see in crypto.

The numbers mentioned in the piece were also interesting. Metals.io had reportedly generated around $24 million in cumulative trading since launching in late 2024, with roughly 9,000 token holders. More importantly, the article focused on what makes the model different from simply creating a token that tracks the price of a commodity. Metals.io assets represent beneficial ownership of physical metals, with the underlying assets held through regulated structures.

That was followed by another expansion for xU3O8 later in the month. Kraken Listings announced that tokenized uranium was becoming available to eligible users across the European Economic Area, with the asset backed by physical uranium stored by Cameco and structured on Tezos with Archax. Geographic restrictions still apply.

July was about xU3O8 reaching Kraken in the first place. August was more about what happened after that: broader distribution and, perhaps more interestingly, Metals.io becoming part of a much larger conversation about where commodity markets and tokenization could be heading.

The Road to 50%: tz4 Adoption and All Bakers Attest #

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Not every important change on Tezos has to wait for the next protocol upgrade. Some of them are already on mainnet, waiting for bakers to flip a switch.

tz4 addresses have been around since Mumbai in March 2023, when Tezos added BLS signatures. For a long time they did not matter much to bakers, because they could not be used for consensus. That changed with later upgrades, and especially with Tallinn in January 2026, which introduced All Bakers Attest, a feature that drops the current committee system and lets every active baker attest every block, with attesting power matching baking power.

The catch is a threshold. All Bakers Attest activates once at least 50% of active bakers are using tz4 consensus keys. It counts bakers, not stake. A small independent bakery and a large operation each count as one. Crossing the line only has to happen once, the feature does not turn itself back off if adoption dips later.

In late August, adoption sat at 83 out of 195 active bakers, or 42.6%. Fifteen more bakers would get the network over the line. You do not need to change your baker address to switch, and there are several signer options available. If you bake and you have been putting this off, this is the part of the article written for you.

We published a full breakdown of why tz4 suddenly matters, what the switch actually involves, and where adoption stands. There is also a live adoption map at tezos.systems if you want to watch the number move.

News From The Tezos Ecosystem: Quick Bits #

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Beyond those insights, the ecosystem saw plenty of other noteworthy developments worth a quick look:

Events #

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All recordings from Tuesday Tezday, Artz Friday, and other Tezos Commons community calls can be found on radio.tezoscommons.org! During August, we hosted the following spaces:

Besides X spaces, we also published the following TezTalks podcast episodes:

Stay in the Conversation, Stay in the Know #

Tezos Commons hosts a variety of community-oriented events and content. From podcasts, X-spaces, and long-form content, there’s something for everyone.

You can also contact us on X or via email at social@tezoscommons.org.