IOTA Staking for Assembly (ASMB) will be continued from next week.

Apr 15, 2022

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IOTA Staking for Assembly (ASMB) will be continued from next week.

Originally posted here.
By: guido

Overview

At IOTA there is again the possibility to get Assembly (ASMB) for free through Staking. The promotion starts on Friday (April 22) and has an […]

The Post

At IOTA there is again the possibility to get Assembly (ASMB) for free through Staking. The promotion starts on Friday (April 22) and has an initial duration of 90 days. Assembly is not yet freely traded.

At the end of March, the first staking period on IOTA that the ecosystem had to offer came to an end. Staked out were Shimmer (SMB) and Assembly (ASMB), two projects that will be based on IOTA technology in the future. As previously promised by the IOTA Foundation, staking for Assembly is now resuming. Starting Tuesday, IOTA can be registered for Assembly’s pre-staking via the official Firefly Wallet and from Friday (April 22) the virtual distribution of ASMB will begin. Thereby 0.000002 ASMB are scheduled every ten seconds per MIOTA and this over 90 days.

Assembly was introduced to the public in December 2021 and is designed as a commercially oriented side project of the IOTA Foundation. IOTA chief Dominik Schiener sits on Assembly’s board of directors. It was able to raise $100 million in venture capital for Assembly, which is hoping for success in the DeFi, NFTs, and blockchain gaming divisions. However, ASMB is a theoretical token until the foreseeable future; Schiener has promised a functioning mainnet at Assembly for late in 2022. Only then can the tokens also be transferred and thus traded.

Assembly’s chances of success must be viewed critically. Since IOTA does not seem to be making any progress in developing a solution to abolish the central coordinator, Assembly will probably also be based on a central structure and thus not fulfill the blockchain core criterion of decentralization for the time being. Whether developers and investors will want to trust Assembly under this premise will be a key question.

Assembly Staking with IOTA – here’s how it works.

To stake ASMB with IOTA, the official wallet Firefly from version 1.5.0 is a prerequisite. This should be available for download from Tuesday (April 19), writes the IOTA Foundation in a blog post . At Firefly you will then find the tab “Staking” and can register your IOTA there to get continuously credited ASMB. IOTA reserved for staking can also be withdrawn at any time, so you don’t have to commit for all 90 days. In the future, further staking periods for assembly at IOTA are pre-programmed; a total of 20 percent of all ASMB are to be distributed via staking. In the first staking of ASMB from December to March, 5.8 percent of all future Assembly thus theoretically went to IOTA wallets.

Conclusion: Assembly wants to enrich IOTA – but skepticism justified

Staking on IOTA had attracted a lot of interest in late 2021, propping up IOTA’s price curve at levels above $1.20. However, the euphoria seems to have faded, with IOTA currently trading at around US$0.66. The reasons for this are that Assembly (and also Shimmer) still have to wait for their stock market debut and the realization that a decentralized IOTA 2.0 aka Coordicide is still nothing more than a theoretical goal, which is experiencing one setback after another in implementation. However, those who have IOTA credit anyway should quietly take the Assembly Staking option as well. On the other hand, buying IOTA specifically to participate in the staking of ASMB seems like a pretty daring strategy.

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