🎉
#iotex has now been officially upgraded to a modular
#depin open platform.
🎉 At the same time, the#IoTeX2.0 white paper was released. The new white paper details the composable modules, unified trust layer and new token economics, and plans to connect 100 million devices and unlock trillions of dollars in value in the next 3-5 years.
Highlights of this upgrade👇
1️⃣
$IOTX will become the base currency of the entire DePIN ecosystem. All parties in the ecosystem need to stake IOTX tokens to participate in IoTeX, and the value of the entire ecosystem will be captured by
$IOTX .
2️⃣ Open the entire ecosystem, allowing all#DePINinfrastructure modules to join the DePIN ecosystem in the form of DIM, and provide services to#DePINprojects/users in the ecosystem by staking
$IOTX , thereby increasing the IOTX staking rate and transaction volume, and promoting ecological prosperity.
3️⃣ Through MSP, restaking is introduced to bridge the security of#IoTeXto DIM service providers, adding a layer of income for Restakers, with an APR of up to 20%.#IoTeXwill provide a unified trust layer to the DePIN ecosystem, and MSP will be open to other L1s (BTC/ETH/Solana) in the future.
4️⃣ The token model introduces multiple forms of destruction mechanisms. For example, a device registering an ioID requires the destruction of a certain number of
$IOTX tokens. In the future, the mainnet will also be upgraded to EIP-1599 to introduce gas destruction. The overall balance can be achieved until deflation, which is a healthy and robust token model.