CandleFocus IOTA Token Utility Expands with Rebased Staking Rewards Proposal
2024-11-21
Author: Content Editor
IOTA has provided further details about its upcoming Rebased Protocol, including information about governance voting and the introduction of staking rewards. The protocol aims to bring real utility to IOTA token holders, secure and decentralize the network, and offer staking rewards of 10-15% APY. The protocol will enable the network to gain Layer 1 smart contract capabilities through SUI’s Move Virtual Machine. The upgrade to a delegated Proof of Stake (dPoS) system will help achieve full decentralization. The objective of the upgrade is to provide a ready-to-use network for the ecosystem and stakeholders. The Public Testnet Phase will be conducted, followed by migration to the mainnet and the introduction of move-based smart contracts. A voting phase will begin on December 2, and if the upgrade is rejected by the community, the network will continue to operate as it is. Currently, IOTA is trading at $0.1698, with a slight decline in the last 24 hours.
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