The IOTA Foundation is proposing to rebase IOTA's Layer 1 protocol to introduce full decentralization, L1 programmability with MoveVM and EVM support, scalability of over 50,000 transactions per second, and $IOTA staking. This upgrade aims to offer a faster path to a new mainnet compared to the current IOTA 2.0 plans. A governance vote will decide whether to adopt this protocol or continue with the current network. If approved, the new mainnet could launch after a testnet phase, security audits, and exchange integrations, bringing advanced programmability to meet industry demands and accelerate ecosystem growth. The IOTA Foundation emphasizes its commitment to real-world adoption and its reputation as a trusted R&D organization. The IOTA Rebased protocol combines tried-and-tested innovations in the DLT space and introduces Move-based smart contracts, improved tokenomics, and attractive staking rewards. The protocol also offers convenient upgrade features, making the Shimmer network redundant as a staging network for IOTA. The IOTA Rebased testnet has been released, and a governance vote by the community will take place on December 2nd to decide the future of IOTA.



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