The IOTA team is working on the implementation of the Rebased Protocol, which aims to improve scalability and decentralization of the network. As part of this effort, Layer 1 Move smart contracts have been introduced to support the Ethereum Virtual Machine (EVM) in Layer 2. An on-chain campaign called "The Return of IOTA" has been launched, which includes a 3 million IOTA token airdrop. The Rebased Protocol is expected to significantly increase transaction speed processing to 50,000 TPS. Other expected features include tokenizing value chains, using Non-Fungible Tokens (NFTs) for the Digital Product Passport (DPP), and creating staking opportunities with Liquid Staking Tokens (LSTs). The implementation of MoveVM into IOTA 2.0 is a multi-year effort that requires breaking protocol changes. The Rebased Protocol is inspired by the Sui network and aims to advance the adoption of Move in Web3 and various industries. At the time of writing, IOTA was trading at $0.289.



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