CandleFocus IOTA Set to Join Multi-Collateral Stablecoin in DeFi Push – What It Means for Holders
2024-10-29
Author: Content Editor
The co-founder of IOTA, Dominik Schiener, has hinted at a friendly fork that would transform the network and expand its use cases. If this occurs, users would be able to use their IOTA as collateral for a stablecoin, making transactions in the world of decentralized finance safer and less volatile. This could potentially increase the Total Value Locked (TVL) of IOTA and boost the use of the ecosystem. However, the information is based on speculation triggered by a Discord message, and nothing has been confirmed. Prior to the expected fork, the Tangle Treasury Grant Committee announced plans to reinvest in digital assets, including IOTA, within the IOTA EVM DeFi protocol. This decision is based on the fact that a significant portion of Tangle's assets often go unused. At the time of writing, IOTA is trading at $0.11.
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