ASMB Project Terminated, Stakeholders to Receive 160 Million IOTA Tokens
The termination of the ASMB Project has been officially announced, and as a result, stakeholders will receive IOTA tokens. A total of 160 million IOTA tokens have been designated for distribution. If you are curious about the details, the IOTA Foundation (IF) has provided a comprehensive table on their GitHub page that outlines how many tokens each address will receive.
It is important to note that IOTA is represented in large numbers, and to convert these figures to MIOTA (mega IOTA), you need to divide by 1,000,000. For example, the address ‘iota1qzsa4hcy584gyun275ge08z2plv6d2eq2sq0kl4y2p39ty838ppr6pvztaa’ will receive approximately 30.34 Gi, which is equivalent to about 4,750.69 USD at current rates. Beneficiaries will receive 10% of their total allocation in two weeks, followed by monthly distributions over the next 24 months.
The Arrival of Stardust
After the implementation of the Stardust Upgrade, a fork will be introduced to increase the overall token supply. This will essentially create a “new” variant of the token. Along with this transformation, the unit of measurement for the cryptocurrency will be adjusted. To ensure a seamless transition, all you need to do is update your Firefly Wallet. Tokens held in exchanges will be automatically transferred to the new network, and official announcements will accompany this shift.
Significantly, the abbreviation for IOTA will change from $MIOTA to $IOTA. While there may be discussions about an “IOTA Classic,” it will not have official support, raising doubts about its longevity. This update aims to level the playing field, bringing IOTA and Shimmer on par in terms of functionalities, enabling features such as NFT creation and custom token issuance.
Token Dynamics After Stardust
To maintain a competitive edge, approximately 40% of the new total offering of 4.6 billion IOTA will be distributed. However, these new 1.82 billion tokens will not immediately enter circulation. The IOTA Foundation intends to primarily utilize these tokens for investment purposes and has no immediate plans for a market sale, ensuring that they do not impact the token’s price. Interestingly, the community will have a voice in determining the potential use-cases for these tokens.
Looking Ahead
The highly anticipated Stardust Upgrade is set to launch in just two weeks. Additionally, ShimmerEVM is undergoing tests with partners and is expected to be released shortly after the Stardust debut. Furthermore, Dom has confirmed the readiness of IOTA 2.0 (coordicide). Educational initiatives will begin in October, providing global audiences with documentation and presentations for IOTA 2.0. The evolution of IOTA does not end there, as plans are already underway to introduce Smart Contracts on IOTA L1.
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