[DRAMA] in a unilateral decision IOTA Foundation CEO announces 60% new token supply

1 week ago 46

[DRAMA] successful a unilateral determination IOTA Foundation CEO announces 60% caller token supply


In caller days, IF took IOTA assemblage by surprise, CEO Dominik announced a caller tokenomics .

1.8b caller tokens volition beryllium printed successful 2 weeks raising proviso from 2.8b to 4.6b, that determination deed hard connected IOTA investors and assemblage members. it means diluting existent investors worth holding by 3/4 .

Although determination is simply a governance model and on-chain voting via wallet successful spot this determination was taken unilaterally, nary treatment oregon voting from iota members, who person a mode to ballot utilizing iota ain platform.

It's worthy mentioning that IOTA ever boast astir fixed supply

What made IOTA assemblage furious is that IOTA, to money its operation, created a staking mechanism, by staking IOTA and receiving ASMB token. this volition obsolete successful the adjacent upgrade and stakers felt that they person been tricked not to merchantability their iota token for useless token, though they volition beryllium airdropped portion of the caller proviso but was not worthy the staking wait.

Many raised the interest that it was a mode for Dominik to further enrich himself. A tiny radical of "contributors" volition person tokens astatine a discount. He is 1 of these contributors.

All the erstwhile millions spent since task started and nary transparency provided for community

Read Entire Article