IOTA’s Dominik Schiener has disclosed that the team is consistently working to improve liquidity and Total Value Locked (TVL) to effectively convince major exchanges. He also admitted to the poor performance of the IOTA token but assured that the recent US political climate and the movement of Bitcoin (BTC) could trigger a price surge.
IOTA co-founder Dominik Schiener has, in a 1-hour and six-minute video, shared extensive details about the vision of the project and possible exchange listings. In the video analyzed by CNF, Schiener commented on the news surrounding the victory of Donald Trump, claiming this marks a significant shift for the crypto industry. According to him, the change in the US political climate and the significant move in the Bitcoin price would be a tailwind for the entire crypto market, especially IOTA.
The IOTA co-founder also stressed that the main goal has been to strengthen the fundamentals and ensure that the asset is adopted in the real world. On this, he disclosed that several high-profile partners have come on board, rekindling investors’ confidence in the asset.
#Iota
My personal summary of the very interesting AMA with
@DomSchiener,
polished up with ChatGPT
@realizefinance
@TLIP_io
@TradeMarkAfrica
@InstituteGC
@EU_EBSI
pic.twitter.com/G8vhKherKj
— Mario Neumann (@MarioNe44273591)
November 6, 2024
Developments and Exchange Listings
Answering a question on what IOTA has been doing in the past years, the co-founder explained that they have been focusing on critical initiatives to accelerate the path toward adoption. He also highlighted that the team has been consistently working to ensure that all their efforts translate into the price of the token.
He also disclosed that the team has been working on a digital product passport to certify products on-chain. This would ensure that products have Identity attached to them to verify their authenticity.
According to our recent report, the digital product passport leverages IOTA Technology to enhance transparency and traceability throughout the life cycle of an electronic device. This is something we did as part of ETSY. This is something we have some exciting new partners, and this is where we are doing stuff in terms of product traceability…this is something that is driven by regulation. IOTA is one of the only solutions in the market.
Ongoing Projects Within the IOTA Ecosystem
For TWIN, he disclosed that they have so far been building two separate ecosystems with reward adoption efforts and “a start in Web3.” Throwing more light, he stated that the role of the IOTA foundation is to leverage its reputation in the market to ensure that there is a user acquisition on-ramp.
Speaking on the IOTA EVM, Schiener pointed out that the project has started to grow as it currently has a Total Value Locked (TVL) of $22 million. According to him, the team is currently aiming at a TVL of $100 million to comfortably convince exchanges.
(Exchanges) want to see activity and growth. We are in touch with all the exchanges, and we know that once we make progress, we will reach out to them again, but there is no guarantee.
Currently, the team seeks to achieve higher TVL, better liquidity, attract more users, and ensure that IOTA is positioned uniquely.
At press time, IOTA (IOTA) was trading at $0.118 after surging by 2.9% in the last 24 hours.
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