IOTA answers questions about staking Assembly (ASMB)
Originally posted here.
Since April 22, Assembly (ASMB) can be staked on IOTA again. IOTA has now answered some questions from investors about the mechanisms and the future […]
Since April 22, Assembly (ASMB) can be staked on IOTA again. IOTA has now answered some questions from investors about the mechanisms and the future of Assembly.
Staking at IOTA is supposed to make the ecosystem more popular since the end of 2021 and after the first staking period for Assembly (ASMB) and Shimmer (SMR), the IOTA Foundation drew a satisfied interim conclusion at the end of March. As of Friday (April 22), a second, 90-day staking period for Assembly is now underway at IOTA. Since there is apparently still a need for information among interested parties and participants, IOTA is providing English-language answers to frequently asked questions via Twitter .
1. staking for assembly is not committed to participating completely for the currently running 90 days. Those who hold IOTA credits can sign them up for Staking and also sign them out again at any time during the period .
2. the minimum amount for staking of Assembly is 1 MIOTA and to get Assembly credited, at least 0.1 ASMB must be reached in the staking period. On the website of Assembly you can calculate here , which results can be expected with the individual requirements.
3. to do staking with IOTA for Assembly, the official IOTA wallet Firefly from version 1.5 must be used. More info on this can be found here from us.
4. 100 billion ASMB are planned as the maximum amount for Assembly. Of this, 20 percent is to be distributed through staking. 5.8 percent of all ASMB was distributed in Phase 1. In the current phase, there is 0.000002 ASMB per provided MIOTA every 10 seconds in staking.
5. IOTA intends to offer a total of 24 months of staking for ASMB, which are normally divided into 90-day periods. Currently, phase 2 of a total of 8 expected staking stages for Assembly is running.
6. IOTA is placing staking pauses on Assembly after every 90 days to make it easier for network points to calculate and document allocations. In addition, the pauses give chances to incorporate software updates such as now with the IOTA Firefly Wallet.
7. IOTA reiterates that Assembly should still see the launch of its mainnet in 2022. This is important because ASMB will only be able to be transferred and thus enable trading with Assembly from that point on. Until then, ASMB will remain a virtual token with no monetary value.
Conclusion: Is Assembly Staking worthwhile with IOTA?
IOTA’s price curve had initially shown positive momentum during the initial staking period. However, when market participants then took a closer look at the details of staking at IOTA, disillusionment set in and the price gains decayed again. After all, it sounds attractive at first to also receive additional tokens for IOTA, which will find their own roles in the ecosystem in the future. But on the other hand, it became clear that Assembly will start with a centralized mainnet because Coordicide is no longer realistic for IOTA in 2022. Coordicide is intended to bury the central coordinator at IOTA, which runs the blockchain-like network and thus undermines the criterion of decentralization, which is crucial for the crypto industry.
It is by no means certain that Assembly will be adopted by the market after its launch. ASMB is expected to find uses in the DeFi, NFTs and blockchain gaming sectors – but there are already many cryptocurrencies floating around there that were actually designed to be decentralized and are already implementing projects in practice. From our perspective, this means that if you already hold IOTA assets anyway, it’s certainly not a mistake to join in on the staking for Assembly as well. However, in view of the uncertain future prospects for ASMB, it seems risky to invest extra in IOTA for staking.
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