IOTA starts staking program, MIOTA increases by more than 16%

With only a few days left until the end of 2021, many investors may feel that the market is slowing down and that there aren’t enough interesting rallies. However, that doesn’t mean that growth has stalled. Projects and ecosystems expand, even during the holidays. One such example is IOTA.

It’s staking season

The crypto community was excited after IOTA notification that they introduce a staking program.

“With the release of Firefly 1.3.0, staking functionality is fully integrated and holders can start staking from IOTA in exchange for SMR, the native token of the Shimmer network, and ASMB, the native token of the assembly network. “

The stake out function is available notification on December 15th and has been in operation since Tuesday (December 21st).

According to the release, stakers can choose to receive their rewards in SMR tokens, ASMB tokens, or both. However, it is important to note that the network of SMR and ASMB tokens is set to be launched in the next year.

Despite minor technical issues in the beginning, many people were able to start staking and get paid without delay. report was successful.

“IOTA staking guaranteed! At the moment it works! At first it looks like the network is overloaded. But I’m just plugging in my IOTA! “

So what’s the lesson here? Well, speed is an important factor to be aware of. Assembly, a free smart contract network, was launched in early December, while a pre-production version of Shimmer was launched in November. Now investors are ready to accept ASMB and SMR tokens as a reward.

Although it is a rapidly growing network, investors will have to wait until it launches next year to fully assess whether the rewards are going to benefit them.

IOTA does not destroy the ETH

IOTA has many applications – DeFi, Metaverse, Web 3.0 etc. However, co-founder Dominik Schiener does not want to bring down Ethereum. Schiener. agreed with an Ethereum developer who called Ethereum a “cultural movement” said:

“So my greatest respect goes to Ethereum and the team that created this amazing culture. Nothing can be compared to Ethereum today. “

So it doesn’t look like IOTA is going to destroy Ethereum.

Its MIOTA native token rose to USD 1.36 after the news broke, but has since fallen slightly to current levels.

IOTA price chart | Source: Tradingview

IOTA was trading at $ 1.27 at press time, has seen an impressive 16.74% gain since it was announced on the day, and is the 44th largest cryptocurrency by market cap.

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