ASMB Project Concludes, Stakers to Receive 160 Million IOTA Tokens
A new era is on the horizon for IOTA with the upcoming Stardust Upgrade, which will introduce fresh token dynamics and enhance the project’s competitiveness in the blockchain industry.
The ASMB Project has officially reached its culmination, and as a result, stakeholders will be rewarded with IOTA tokens. An astounding 160 million IOTA tokens have been allocated for distribution to stakeholders. For detailed information on the distribution, the IOTA Foundation (IF) has provided a comprehensive table on their GitHub page, specifying the number of tokens each address will receive.
It’s important to note that IOTA is represented in large numbers, and to convert these figures to MIOTA (mega IOTA), one must divide by 1,000,000. For instance, the address ‘iota1qzsa4hcy584gyun275ge08z2plv6d2eq2sq0kl4y2p39ty838ppr6pvztaa’ will receive approximately 30.34 Gi, which is equivalent to around 4,750.69 USD at current rates. Beneficiaries will receive 10% of their total allocation in two weeks, followed by monthly distributions over the next 24 months.
The Dawning of Stardust
Following the Stardust Upgrade, a fork will be introduced to expand the overall token supply, essentially giving birth to a “new” variant of the token. Alongside this transformation, the unit of measurement for the cryptocurrency will be adjusted. To ensure a seamless transition, users simply need to update their Firefly Wallet. Tokens held in exchanges will be smoothly transferred to the new network, usually accompanied by official announcements.
Moreover, the abbreviation for IOTA will change from $MIOTA to $IOTA. While there may be talk of an “IOTA Classic,” it will not receive official support, casting doubt on its longevity without proper backing. This update aims to level the playing field, aligning IOTA and Shimmer in terms of functionalities, enabling features like NFT creation and custom token issuance.
Token Dynamics after Stardust
To maintain a competitive edge, approximately 40% of the new total supply of 4.6 billion IOTA will be distributed. However, these 1.82 billion new tokens will not immediately enter circulation. The IOTA Foundation intends to primarily utilize these tokens for investment purposes, with no immediate plans for a market sale, ensuring minimal impact on the token’s price. Interestingly, the community will have a say in determining the potential use-cases for these tokens.
Looking towards the Future
The highly anticipated Stardust Upgrade is set to roll out in just two weeks. Additionally, ShimmerEVM is ready and undergoing tests with partners, with its launch expected shortly after the debut of Stardust. Furthermore, Dom has confirmed the readiness of IOTA 2.0 (coordicide). Educational initiatives are scheduled to commence in October, providing global audiences with documentation and presentations for IOTA 2.0. The evolution does not stop at IOTA 2.0, as plans are underway to introduce Smart Contracts on IOTA L1.
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