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- ASMB Project terminated, stakers to receive a total of 160 million IOTA tokens.
- Stardust Upgrade on the horizon, introducing new token dynamics and increasing IOTA’s competitiveness in the blockchain space.
ASMB Project Culmination & IOTA Token Distribution
The ASMB Project has officially come to an end. In exchange, stakeholders will receive IOTA tokens. Specifically, a staggering 160 million IOTA tokens have been set aside for this distribution. Curious about the specifics? The IOTA Foundation (IF) has provided a comprehensive table on their GitHub which details which address receives how many tokens.
To clarify, IOTA is represented in large numbers, and to convert these figures to MIOTA (mega IOTA), one needs to divide by 1,000,000. For example, the address ‘iota1qzsa4hcy584gyun275ge08z2plv6d2eq2sq0kl4y2p39ty838ppr6pvztaa’ will receive approximately 30.34 Gi, equivalent to about 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 Dawn of Stardust
Post the Stardust Upgrade, to expand the overall token supply, a fork will be introduced – in essence, spawning a “new” token variant. Along with this transformation, the unit of measurement for the cryptocurrency will be adjusted. To ensure a smooth transition, all one needs to do is update their Firefly Wallet. Tokens held in exchanges will be seamlessly transferred to the new network, with official announcements typically accompanying this shift.
Notably, the abbreviation will evolve from $MIOTA to $IOTA. Although there’s potential chatter about “IOTA Classic,” it won’t be officially backed, making its longevity questionable without support. This update aims to level the playing field, positioning IOTA and Shimmer at par in terms of functionalities, facilitating features such as NFT creation and custom token issuance.
Token Dynamics Post-Stardust
To maintain a competitive edge, roughly 40% of the new total offering of 4.6 billion IOTA will be distributed. However, these new 1.82 billion tokens will not necessarily be in circulation immediately. The IOTA Foundation intends to utilize these tokens primarily for investment purposes without any immediate plans for a market sale, thus not impacting the token’s price. Interestingly, the community will have a say in the potential use-cases for these tokens.
Gazing at the Road Ahead
The much-anticipated Stardust Upgrade is slated to roll out in a mere two weeks. Additionally, ShimmerEVM is ready, undergoing tests with partners, and its launch is expected shortly after the Stardust debut. Furthermore, Dom has confirmed the readiness of IOTA 2.0 (coordicide). Educational initiatives are set to kick off in October, preparing the global audience with documentation and presentations for IOTA 2.0. The evolution doesn’t stop at IOTA 2.0, with plans for introducing Smart Contracts on IOTA L1 already underway.
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