IOTA Assembly Archives - Times Tabloid

IOTA Kicks Off Staking on Assembly and Shimmer

Solomon Odunayo — Tue, 21 Dec 2021 14:53:20 +0000

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.

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.”

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 3PM.
Get set up in the #Firefly wallet https://t.co/IjdIpMO0u2
And don't forget, you can simultaneously #stake on @assembly_net too!#Shimmer pic.twitter.com/IXe91KxO97

— Shimmer (@shimmernet) December 21, 2021

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.

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.

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Prominent Crypto Funds Commit $100 Million to Accelerate IOTA’s Assembly ecosystem

Tobi Loba — Fri, 10 Dec 2021 14:37:02 +0000

It’s worthy of note that IOTA’s Assembly ecosystem has been experiencing sustained growth since its launch.

A number of prominent crypto funds, including LD Capital, Huobi Ventures, UOB Singapore, and Signum Capital, are declaring their support of the brand new scalable network for smart contracts with a $100 million grant.

The project previously attracted $18 million in seed round funding from established crypto funds and private individuals. While that seed round was intended primarily to foster technological development, this $100 million commitment will support builders and teams eager to capitalize on the opportunities offered by Assembly. Project teams are invited to apply for grants from the $100 million fund.

This underscores the community-minded principles of IOTA and Assembly. As part of the rollout of the Assembly ecosystem, IOTA announced that 70% of the entire token supply would be reserved for developer incentives, community-governed DAOs, and grant programs. Beyond that, token allocation and open distribution will be governed directly by the community.

Few crypto projects are enabling their developer communities to take the reins the way Assembly does. This commitment represents not only a major vote of confidence in the ecosystem itself but in the Assembly’s ongoing commitment to and investment in its community.

Reacting to the new development, Jack Yi Founding Partner of LD Capital, said:

“We are very proud to be one the earliest contributors of Assembly. We have no doubt that Assembly will become the best option for Web3 developers to build their DAPPs and provide frictionless service to billions Web3 adopters given its high degree of flexibility, scalability and interoperability. We are fully committed to working closely with the team to unleash the full potential of Assembly and start a new era.”

Sistine Chen, Venture Partner at Huobi Ventures, also said:

“Assembly marks yet another milestone for blockchain interoperability upon IOTA infrastructure. Huobi is delighted to back Assembly.”

Rae Deng, Partner at Signum Capital, also showcased his excitement in relation to the new development:

“Back in 2015, the IOTA team already foresaw the many problems plaguing our industry today, such as scalability and transaction cost. IOTA’s ledger structure has always been the answer to those problems and that answer is now revealed by Assembly, an advanced smart contract platform that is highly nimble and robust.

I’ve known Dominik and the team for many years, and I’m still impressed by their innovativeness and resilience. We believe that the team will lay a solid foundation for the crypto industry and that Assembly+IOTA will accelerate the arrival of Web 3.0.”

A couple of days ago, IOTA announced the launch of Assembly, a new decentralized layer-1 network for smart contracts with a native ASMB token and with the possibility of zero fees, sharding, and support for multiple virtual machines.

The open network is expected to be fully controlled and governed by its community, while the Assembly token is created to provide the economic fuel of the decentralized network’s security, governance, and reward participation.

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

Solomon Odunayo — Thu, 02 Dec 2021 15:18:06 +0000

IOTA, one of the largest cryptocurrency ecosystems in the world, is launching Assembly, a new decentralized layer-1 network for smart contracts with a native ASMB token and with the possibility of zero fees, sharding, and support for multiple virtual machines.

This open network will be fully controlled and governed by its community, and the Assembly token will provide the economic fuel of the decentralized network’s security, governance and reward participation.

As the protocol wars heat up, many layer-1 crypto projects are pouring billions into developer incentives to accelerate adoption and become the new standard across the Metaverse, DeFi, and Web 3.0. VCs are vying for controlling stakes in these projects and the decentralized future with billion-dollar mega funding rounds.

It has even upended the strategy of industry behemoths like Meta (formerly Facebook), which rebranded and announced plans to pour upwards of $10 billion into building and ultimately controlling the Metaverse and any value creation therein.

With the launch of Assembly, the team behind IOTA has taken a radically different approach. Rather than just throw heaps of money into the Metaverse, it’s investing in its most dedicated users.

Developers, creators and early contributors of the Assembly ecosystem will be rewarded with nearly 70% of the entire token supply. With this move, Assembly will distribute the power to its creators and reward those who contribute the most, building an open Metaverse for anyone to participate and benefit from.

Apart from its fair token distribution and governance, Assembly offers a unique smart contract architecture aimed at solving problems with transaction fees, scalability and interoperability. Developers are empowered with the flexibility to build dApps tailored to their needs with the freedom to define transaction fees – potentially even no fees at all.

Unlike traditional Blockchains, Assembly already offers sharding to scale the network to thousands of transactions per second. The real power of this architecture is that all smart contracts are still fully connected, and can interact with each other without any transaction fees or security risk.

Instead of creating a walled garden where a few projects (or just one Meta) control the internet’s decentralized future, Assembly is helping to undo the mistakes that were made with Web 2.0 by distributing power and ownership to its community. Assembly is taking Web 3.0 and the Metaverse mainstream by building an open, community-governed network.

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