Friday, August 19, 2022
HomeCryptocurrencyIOTA Kicks Off Staking on Assembly and Shimmer

IOTA Kicks Off Staking on Assembly and Shimmer

After the announcement of Shimmer, the incentivized staging network of IOTA, and Assembly, the permissionless smart contract network anchored into IOTA, the excitement for the community is starting to get real with the official launch of one of the biggest token airdrop campaigns in crypto history.

Shimmer tokens and Assembly tokens will be airdropped to IOTA stakers over a three-month period. All that is required is to stake IOTA tokens within the Firefly wallet.

Read Also: IOTA Launches Assembly with Sharded, Feeless Smart Contracts, Taking Web3 and Metaverse Mainstream

Shimmer tweeted, “Pre-staking just started! But what does it mean? 1 MIOTA gets you 1 SMR every 10 seconds for up to 90 days starting Dec 28th at 3 PM. Get set up in the Firefly wallet. And don’t forget, you can simultaneously stake on Assembly too.”

The week-long pre-staking period officially starts now on 21 December, 9:00 AM EST. So, token holders can start registering for the token distribution. On December 28, 9:00 AM EST, the token distribution will officially start, with IOTA token holders continuously receiving Shimmer tokens and Assembly tokens as staking rewards over a 90 day period.

There are no lockups or penalties and token rewards are readily available within the Firefly wallet. Earned tokens will be fully transferable with the launch of the Assembly and Shimmer networks in 2022.

The opening of staking capabilities for the IOTA token is a major development that makes IOTA a multi-asset ledger and strengthens the foundation of both Shimmer and Assembly networks.

<

Read Also: IOTA Debuts Genesis NFTs on Newly-Launched Shimmer Network to Reward Early Adopters

The rewards generated by staking will strengthen both networks, reward early adopters, and solidify a self-governed ecosystem. It’s a huge step forward for IOTA, Shimmer, and Assembly.


Follow us on Twitter, Facebook, and Telegram

Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
RELATED ARTICLES

Latest News & Articles

Recent Comments