In a landmark decision, IOTA (IOTA) has secured overwhelming community support for its most significant upgrade yet: the Rebased Protocol. The governance vote, held between December 2 and December 17, posed the question, “Do you support upgrading the IOTA Mainnet to the proposed IOTA Rebased Protocol?”
An impressive 98.37% of voters, representing 31,647,575,919,696,580 votes, approved the upgrade. Just 1.48% opposed the proposal, while 0.15% abstained. With the upgrade officially greenlit, IOTA is poised to undergo a transformative overhaul, introducing features such as staking, MoveVM, and full decentralization.
IOTA’s Co-Founder Dominik Schiener expressed his enthusiasm, calling the upgrade a milestone in the project’s history. “Now we prepare it all for mainnet release with our partners,” he said, highlighting the ecosystem’s bright future.
The biggest upgrade in IOTAs history has officially been approved by all token holders ✅
— Dominik Schiener (@DomSchiener) December 19, 2024
A complete overhaul of the L1 with many exciting new features such as $IOTA staking, MoveVM and full decentralization 🔥
Now we prepare it all for mainnet release with our partners 🐸🌀🚀 https://t.co/CQn59WtgoK
What Comes Next?
IOTA is advancing preparations for the Rebased mainnet release, while the testnet is already live. Partners and application builders are actively testing the new technology stack. Several independent validators have onboarded to ensure operational readiness, including:
- Cosmostation: Managing $1.5 billion in staked assets.
- Nodes.Guru: A leading validator with $500 million in assets staked.
- InfStones: Offering enterprise-grade blockchain infrastructure.
- Stakin: Providing non-custodial staking services.
- BlockPI: The largest professional infrastructure provider in APAC.
For a seamless mainnet release, four critical conditions must be met: a two-month testnet phase, thorough stress testing, completed security audits, and integration by major exchanges.
Mainnet Expectations
Upon completion, users will benefit from significantly lower transaction costs and a fee-burning mechanism to manage congestion and supply. The upgrade also includes essential steps such as network transition, wallet updates, and token continuity, ensuring a smooth migration to the new protocol.
IOTA’s Rebased Protocol marks a pivotal moment, setting the stage for increased adoption, enhanced scalability, and robust decentralization. With strong community backing and strategic partnerships, IOTA is positioned to lead innovation in the blockchain space.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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