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Is it Christmas already today? Token drop at IOTA

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December 22, 2021 Jackie

 

The Berlin crypto start-up IOTA is in Christmas fever. An airdrop is intended to increase adoption of the two networks Shimmer and Assembly.

IOTA turned up again at the end of the year. On the one hand, the Shimmer network was introduced in mid-November, giving the community staking rewards. On the other hand, the next coup followed at the beginning of December with Assembly in the form of a Layer 1 network for smart contracts with its own token (ASMB).

IOTA is now using the run-up to Christmas to distribute gifts to its own users, at least to those who want to stake their MIOTA tokens. By means of an airdrop, the crypto company from Berlin would like to use the measure to promote the adoption of the two new networks. To participate, the following steps must be followed.

IOTA token drop: this is how you can participate

Initially, the campaign started, December 21st, at 3 p.m. German time with a pre-staking period during which investors get one week’s lead time to get MIOTA on the in-house Firefly wallet (Version 1.3.0). Staking through third-party providers is not possible, writes IOTA. Afterwards, users can decide in which network they want to lock their tokens. The staking phase will then begin on December 28th. A maximum duration of 90 days is provided for both Shimmer and Assembly.

In order to ultimately receive the airdrop, IOTA defines staking goals that investors must achieve. In the Shimmer network, for example, there must be at least 10 million SMR on the account at the end. Every MIOTA struck generates an SMR every 10 seconds, it says in the Corporate blog. 1 ASMB is enough for assembly, but for a MIOTA you only get 0.000004 ASMB (or 4 microASMB) every 10 seconds. The Firefly Wallet will inform investors as soon as the necessary staking goals have been achieved.

In general, the maximum token supply in the assembly network is set at 100 billion ASMB, which are to be put into circulation over the next five years. 20 percent of the offer went to IOTA Staker within a period of two years, the crypto company assures.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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