How Crypto Champions can help you increase the rarity of your NFT

The last few years have been exceptional for NFTs. Our idea of digital assets and their ownership has experienced (and is still experiencing) rapid evolution. Very few people would have boldly predicted a public tweet selling for $2.5 million or a there-for-all-to-see clip of Lebron James dunking selling for $200,000. But, as we’ve all figured out, the creation, sales, and ownership of digital assets are well within the possibility realm.

Several other digital assets have been sold as NFTs in a very short time. Every passing day suggests that the NFT train or “NFT craze” will not disappear anytime soon. So, if you’re still thinking about joining the NFT movement, stop thinking and start acting.

As far as actions relating to NFTs go, there’s one action that anyone— NFT expert or NFT newbie — should be taking right now.

What’s that?

Signing up to be a part of the hottest NFT project right now — Crypto Champions!

Value, Inclusion, NFTs, and Crypto Champions

Crypto Champions is, first, a community-led NFT project. More than NFTs, the Champions Community’s goal is to build a strong network of competent and highly successful people using the powers of Web 3.0 ( NFT, Cryptocurrency, Metaverse, and Crypto Gaming).

The Champions Community is strongly focused on building and sustaining an enabling environment for its members to grow to be the best they can be. Everything from timely investment opportunities, networking with top-notch professionals, and publicly trackable $1 million gift are all accessible for high-performing community members.

The Champions Community also has a community fund powered by DAO (Decentralized Autonomous Organization) technology to support member-led project initiatives. You don’t have to worry about being left out because it is all about getting everyone to where they want to be in the Champions Community.

… and we’ve not even gotten to the NFT part!

The NFT Angle

The Champions Collection consists of 8,888 unique NFTs only accessible through an exclusive Web 3.0. Champion NFTs are a collection of high-quality human 3D models divided into two factions — Privileged and Rebels.

In their separate factions, each of the NFTs has at least 136 combined unique traits, expressions, weapons, uniforms, and gears. When you successfully mint a Crypto Champion NFT, you become a Champion holder. “Fate” will decide whether the character you mint belongs to the Privileged or Rebels faction. With Crypto Champions, minting is fun — and valuable!

Unlike many other NFT projects, the Champions Community does not make it easy for anyone to mint a Champion and become a part of the community. Minting is specially reserved for community members devoted to helping the community grow and who have proved to be high-performing individuals.

The ultimate display of the power of the Champion NFTs reveals itself when the Rebels and Privileged factions lock heads and fight against each other in the Metawar.

Exponential Increase in NFT Value

Crypto Champions NFTs are not static in value; they are actually very dynamic. Champion holders who mint rare NFTs can make up to ten times the initial NFT market value.

Rare NFTs are great, but they are not the only way to amp up the market value of your Champions. Fortunately. Champions holders can up the market value of their NFTs by participating and competing in a short series of three easy-to-play games. Holders with higher scores gain access to rare weapons and accessories that sporadically boost the market value of their NFTs.

Your Best Way to NFT Nirvana

By offering Champions holders a way to amp up the original market value of their NFTs, Crypto Champions is hammering on the certainty of financial growth for its members. This is virtually impossible to find in any other sort of NFT-related project.

The Champions Community also offers its members a different kind of merch — dog tags. You’re given a pretty durable, distinctly customized dog tag when you sign up to be a part of the Crypto Champions project.

Dog tags are not just accessories because they represent something bigger and better, and dog tags represent meaningful displays of brotherhood and communal strength.

With Crypto Champions, you get a community of progressive people, the opportunity to accumulate more wealth while wearing very cool dog tags. It’s everything anyone and everyone wants from NFTs.

Promising Cardano-based DEX Joins the Race: Do.Exchange (DOEX) to hold a Public sale on KICK.IO

Cardano is the blockchain of the future, there’s no doubt about it. Nevertheless, to foster that future we have to build the infrastructure around it. Cardano-exclusive decentralized exchanges (DEXs) are thus critical for the future of decentralized finance.

That’s why we’re immensely proud that Do.Exchange (DOEX), a Cardano-based DEX with an Automatic Market Making protocol, has chosen KICK.IO launchpad for its public sale. By making use of self-enforcing smart contracts, DOEX will facilitate trustless and efficient financial transactions between market participants, and provide the much-needed liquidity within the Cardano ecosystem. The DOEX Team said the following about the project:

“Our vision is to become the first Cardano-based DEX, ensuring interoperability across chains and allowing for the seamless swap of tokens both on the Cardano blockchain and other ones like Ethereum via a fool-proof bridge or converter. This is part of our extended vision of laying a solid background for extended business and expansion opportunities. Our long-term objective is to be the one-stop shop for DeFi services on the Cardano blockchain, including, but not limited to, staking and asset management.”

Unlike most DEXs, DOEX’s aim is to create a truly decentralized, community-driven protocol, where all token holders have voting rights, are able to guide the platform changes, and where users are empowered to fully utilise the immense utility of the DOEX token.

Uses of DOEX Token

  • Ability to cast votes and participate in the governance of the platform
  • Incentivization of platform members
  • Payment of fees such as Swap fees and slippage fees
  • Participation in Liquidity Pool
  • Payment of reward to Liquidity Providers

After an enormously successful initial funding round, DOEX is planning a substantial expansion in the near future and is seeking strategic partnerships with key institutional stakeholders, established blockchain projects to facilitate mass adoption, and looking for long-term investors.

Twitter | Telegram | Discord | Website

For a limited time, Do.Exchange welcomes inquiries from institutional investors who wish to take part in the initial private sale. For a chance to participate in the private sale, please contact sales@do.exchange.

Public Sale on KICK.IO

The DOEX public sale on the KICK.IO Launchpad is scheduled to begin on December 6, 12:00 pm, GMT+02:00. From preliminary projections, it is anticipated to be widely oversubscribed.

Available Supply: 23,800,000 DOEX (17% of Total Supply)

Price: $0.11 USD

About KICK.IO

KICK.IO is a Cardano-based fundraising platform and project accelerator, designed to provide transparent, efficient, and fully decentralized crowdfunding services. KICK.IO is set to mature into a cornerstone of the new Cardano-dominated DeFi landscape, becoming the place where Cardano’s extensive community can come together to fund projects characterised by the immense potential for future success.

Our next-generation decentralized launchpad will be built according to the best DeFi industry practices, ensuring real-time settlement, top-notch security, interoperability, true decentralization, zero counterparty risk, while also being fully scalable to meet the needs of institutional investors. Unlike our competitors, we offer full support of Cardano native tokens and a suite of advanced DeFi tools that upcoming projects need to thrive and prosper.

Twitter | Telegram | Medium | Website

 

“The United States Is Already Mining” Bitcoin… “Maybe,” Says Compass Mining CEO

Does the Compass Mining CEO know something we don’t? Is The United States mining Bitcoin? Whit Gibbs was a guest in a recent episode of Anthony Pompliano’s “The Best Business Show” and spilled the beans… or did he? The host cleverly disguised his question by talking about other countries following El Salvador’s footsteps and starting mining Bitcoin. He also mentioned Venezuela and other not-friendly to the U.S. countries already doing it. Then, he asked point-blank, what would it take for their country to start mining?

Related Reading | Will Bitcoin Mining Backed Volcano Bonds Be Enough To Ward Off The IMF?

“The United States is already mining,” Gibbs answered. And then softened the blow with a “Maybe.” If true, this is huge. And the implications are even greater. “They might have like 10 or 20 watts running somewhere in the midwest to test it out. Maybe. It’s hypothetically speaking. But, it’s a matter of national security.” Was that hypothetical? Or was the Compass Mining CEO giving us inside information? That’s what we’ll try to figure out.

But first, here’s the video: 

What Does The Compass Mining CEO Know?

Well, for starters, he knows Bitcoin is the hardest asset ever created. “When it comes to mining, when you’re talking about what Bitcoin is, whether it’s a store of value, it’s a medium of exchange. It’s the future financial instrument that many, many things are going to be built on top of. Nations would have to be absolutely out of their mind to not be getting some exposure to the underlying infrastructure which supports it.” 

So, it’s safe to say that the Compass Mining CEO is bullish on Bitcoin. Why do we think he might know something the rest of the world doesn’t, though? Gibbs continues, “So, the US I think is on the front foot. We’ve had a lot of conversations with the government in DC, state governments, to help educate them, but they are very forward-thinking when it comes to supporting this.”

So, does the Compass Mining CEO know something we don’t? Is The United States mining Bitcoin already?

Gibbs completes the idea by saying that El Salvador is showing the way to countries that are not at the forefront and, historically, have been hurt by the current system. They now know that being early to Bitcoin can make a huge impact and “get them there.”

BTCUSD price chart for 12/03/2021 - TradingView

BTC price chart for 12/03/2021 on FTX | Source: BTC/USD on TradingView.com

Other Countries That Are Already Mining Bitcoin

Story Time With Pomp And Gibbs. The host senses that the guest knows something and tries to get it out of him. Pompliano shares a story with him: he knows that in 2012-2013 a Federal law enforcement agency was mining Bitcoin. The rationale was that they couldn’t get a budget approved to buy Bitcoin at exchanges to fund black/ undercover operations. So, they filled papers to get computers instead and started mining. The Bitcoin they got was untraceable, it had no history. And they used it to run operations.

Then, it was Gibbs’ turn. “So, this is how you get in trouble,” the Compass Mining CEO answered. Cleverly, he shifted the focus from the U.S. to other countries. According to Gibbs, a North African country that’s a hotspot for the United States is getting into Bitcoin Mining. This is happening at the presidential level.

Related Reading | Bitcoin Mining In The U.S.: 4 States Attract The Most Miners

Also, he lives in Latvia. A very close neighbor of Latvia, “that may have stopped a plane no too long ago, to remove a journalist,” is already mining Bitcoin with nuclear power. The Compass Mining CEO closes his stellar presentation with, “I don’t believe that they’re mining Bitcoin to skirt sanctions. I believe that they’re mining Bitcoin because they see it as the future, and they want to boost their economy, they want to grow.”

You read it here first, Bitcoin is the future and many world leaders know it.  

 Featured Image by Christopher Skor on Unsplash - Charts by TradingView
SEC Boss Acknowledges That Bitcoin Is A Competitor For U.S. Banking System

Bitcoin has proven to be a long-term play which means nations can no longer ignore the impact of the cryptocurrency on the economy. One way that nations have responded to this has been through regulations. While some countries have implemented favorable laws for bitcoin, others have gone the route of trying to stop the digital asset. The United States skews towards the latter.

The SEC has made several attempts to try to regulate the crypto industry, with SEC boss Gary Gensler commenting on what the regulatory body is doing to regulate the asset on several occasions. A growing concern now is the role BTC plays in the economy.

Bitcoin And The Economy

SEC chairman Gary Gensler has raised some concerns regarding bitcoin and the U.S. economy. According to the SEC boss, BTC is now a competitor to the U.S. banking system. Gensler said this on Wednesday when speaking to former SEC chairman Jay Clayton at the DACOM Summit 2021 about the role of cryptocurrencies, Bitcoin, and ETFs in the economy.

Related Reading | Canada Marks Launch Of First Bitcoin, Ethereum ETFs With Monthly Payouts

Gensler, during this summit, said that Bitcoin had been created as a reaction to sanctions and regimes that went into place across the globe. He referred to BTC as “an off-the-grid type of approach”.

“In 2008, Satoshi Nakamoto wrote this paper in part as a reaction, an off-the-grid type of approach. It’s not surprising that there’s some competition that you and I don’t support but that’s trying to undermine that worldwide consensus.”

This refers to the completely decentralized nature of BTC. Satoshi Nakamoto, the creator of Bitcoin, had structured the asset in a way that it couldn’t be replicated or controlled by a single entity.

Bitcoin price chart from TradingView.com

BTC price trading at $57K | Source: BTCUSD on TradingView.com

Why BTC Is Becoming Mainstream

The deflationary nature of Bitcoin has been one of the most important things for investors who bought the asset. Coupled with its impressive returns on investment, the asset had made for a perfect hedge against inflation. Thus becoming a more popular investment avenue in the financial world.

Related Reading | Croatia’s Largest Supermarket Chain Rolls Out Bitcoin Payments

Another has to do with the decentralization of the cryptocurrency. It puts the holder of the coins in complete control of their assets, free from interference from any entity or governmental body. Basically helping people become their own banks.

However, the same reasons that make Bitcoin such an attractive investment for investors are the same ones that make governments see the digital asset as a threat. Although not all governments see the crypto as a threat. One such example is El Salvador which has adopted Bitcoin as a legal tender in the country.

Featured image from CNBC, chart from TradingView.com
Bumper Finance’s Public Token Sale Gives Users a Solution to Crypto Price Volatility

Registration for the BUMP Public Token Sale opened on December 2nd

Although Wall St has long been invested in the cryptocurrency markets, the two are still very different when it comes to market volatility; the wild price swings of crypto assets are enough to chill even the most successful Forex trading professionals to the bone. As the blockchain and crypto industries continue to balloon in both innovation and valuation, protection from untamed price action is still largely unavailable for most, and has no doubt impacted the world’s view on the market as a whole.

In recent years, various advances have been made in the areas of cryptocurrency options and automated trading, but these products are often complex and expensive meaning they are out of reach for most “everyday” traders and investors. Bumper Finance looks to fill a gap in the market with the introduction of a price protection protocol, one that benefits both the user purchasing price protection at a premium and those providing stablecoins into the protocol’s liquidity reserve.

The BUMP Public Token Sale

With over $17.5 million already invested in Bumper Finance’s mission, the BUMP Pre-Sale was heavily subscribed and the Bumper team also declined over $32 million in institutional investment in order to give more investment opportunities to their community. The Bumper team opened registrations to the public on December 2nd and encourages them to become a central part of the Bumper ecosystem, which will in the future adopt a DAO structure, and enable the BUMP token holders to vote for changes to the protocol, utilize its core protection function and act as a critical element to the balancing mechanisms. Token holders will also be able to stake their tokens in the protocol as a core module and in return for generous rewards.

The Bumper Finance Public Token Sale begins on December 9th, 2021, with the price for BUMP tokens set at $1.50 but is reduced to $1.25 for buyers willing to stake their tokens for 3 months; with the popularity of previous BUMP token sales, the team is expecting high levels of involvement and direct would-be buyers to discover more information on the project website to ensure they get a spot in the sale.

Turning On Crypto “God Mode”

Bumper Finance introduces “God Mode” into the crypto and DeFi markets, giving users the opportunity to minimize losses on downwards price action, and also enabling them to ride the wave back up should their assets recover after a drop in price. This type of functionality is yet to be seen within a protocol and presents significant upside potential for participants holding BUMP tokens, which must be held by the user as an access token that is bonded to the protocol in order to take out a position.

Holding BUMP tokens allows users to lock in a price floor for their assets, hedging against volatility for a small premium and giving them peace of mind that they will receive a particular stablecoin amount for their assets should the price decrease, without them being forced to leave their assets on a centralized exchange in the hopes they will find an exit to minimize their loss. The user can also then freely utilize those assets to take out a DeFi loan or to farm with. The crypto ‘Power-Up’ functionality within Bumper also exposes token holders to rewards from fees earned by Liquidity Providers providing stablecoin liquidity to the protocol.

The Bumper Public Sale starts on December 9th. Follow the Bumper Twitter for updates and visit the project’s Medium page for detailed sale information.

 

Understanding Bitcoin UTXO: Mid-To-Long Term Holders Responsible For November Correction

Data reveals that mostly mid-to-long term holders were selling their Bitcoin during November, thus being responsible for the correction.

Bitcoin UTXO Age Shows Mid-Term Holders Sold Their Coins In November

As per the latest weekly report from Arcane Research, mid-term holders seem to be behind the decline in BTC’s price during the month of November.

The relevant on-chain indicator here is the “UTXO Age.” UTXO stands for Unspent Transaction Output; you can think of it as a Bitcoin mechanic that keeps track of coins on the chain.

The UTXO age metric measures how long it has been since a coin on the BTC blockchain was last transacted. Based on the amount of time each coin hasn’t been moved for, the corresponding holders can be categorized into short-term holder (STH), mid-term holder (MTH), and long-term holder (LTH).

Arcane Research takes UTXO age shorter than three months as belonging to STH, and longer than one year as LTH. Holders falling in the period in between are termed MTH.

Now, here is a chart that compares how the supply belonging to the different Bitcoin holders moved during the month of November:

Bitcoin UTXO Age Bands

Looks like the mid-term supply reduced over the course of the month | Source: The Arcane Research Weekly Update - Week 47

As you can see in the above bar graph, the Bitcoin short-term supply saw significant growth during the period as it went from 14.9% at the start of the month, to 17.2% at the end.

Related Reading | Canada Marks Launch Of First Bitcoin, Ethereum ETFs With Monthly Payouts

This growth suggests that some holders in the longer age bands sold off their coins. From the chart, it’s visible that the MTH supply had a sizeable drop during the month.

This means that most of the increase in the Bitcoin STH supply can be accounted for by the sell-off from mid-term holders.

Also, the one-to-three year supply saw some increase as well. This means that part of the MTH supply matured and entered into this longer age band.

Related Reading | “The United States Is Already Mining” Bitcoin… “Maybe,” Says Compass Mining CEO

The 3-5 year supply also had a slight decrease in November, suggesting that some of these long-term holders reaped their profits, and thus added to the increase in STH supply.

So in conclusion, selling from mostly mid-term holders with some long-term holders may be behind the correction in November.

BTC Price

At the time of writing, Bitcoin’s price floats around $55.5k, up 2% in the last seven days. Over the past month, the crypto has lost 11% in value.

The below chart shows the trend in the price of BTC over the last five days.

Bitcoin Price Chart

BTC's price has mostly moved sideways in the last few days | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, Arcane Research
What Ethereum 2.0 Looks Like As Vitalik Buterin Celebrates Its Birthday

The Ethereum 2.0 upgrades of the consensus layer built by multiple teams in the ecosystem promise to bring a “more scalabe, more secure, and more sustainable Ethereum”, and now Vitalik Buterin celebrates 1 year since the proof-of-stake Beacon Chain went live. Eth2 or Serenity aims to “support 1000s of transactions per second” so the high gas fees problem can be solved.

The Beacon Chain, one of  Ethereum 2.0’s distinct sections, has allowed users to be Eth2 validators by staking Ethereum, reportedly earning up to 10% annually, diminishing miners for transaction validation, and adding new blocks.

Ben Edgington, the lead product owner of the Teku Eth 2.0 client, had explained that “Slashing penalties were reduced at the start of the Beacon Chain to increase stakers’ confidence. Now that we are all much more comfortable with staking, penalties are gradually being increased towards their ‘crypto-economically correct’ values.”

The August update in the London hard fork proceeded to implement EIP-1559, changing the transaction fee system. Like so, the ETH burning started, which now sees a total of 353,615.10 ETH burnt during the past 30 days with a burn rate of 8.19 ETH/min. The general expectation is that if ETH supply gets limited, its price will likely increase.

Related Reading | Over 1 Milllion ETH Has Been Burned Since Ethereum EIP-1559

Eth 2.0 Roadmap At The Beacon Chain’s Birthday

The next stage, The Merge, is possible to happen around May or June next year if the code is completed by February. This will ‘merge’ the Beacon Chain into the mainnet. As it has been explained, it is meant to finalize the transition to PoS, “Ethereum’s history on the PoW network will be preserved as the PoS consensus layer is merged in as a replacement for PoW.”

Ethereum
Buterin Vitalik publishes an updated roadmap diagram of Ethereum protocol development’s current state

Tim Beiko stated that “the Arrow Glacier upgrade is scheduled for block 13,773,000, which is expected on December 8, 2021”, and called for users to upgrade their nodes. He expects the Kintsugi devnet to go live early this month, this is intended to “implement a release candidate design for The Merge”, which would be followed by “testing, risk management, and governance”.

Both Beiko and Edgington have said that Ethereum devs are mainly focused on the Eth2 final steps.

The move to proof-of-stake will not immediately provide any significant extra throughput to the Ethereum chain, so I don’t expect it to have a measurable effect on gas prices. The scalability strategy in Ethereum now revolves around layer-two solutions like the various roll-ups that are currently being deployed. Once The Merge is done, we will focus on providing data shards within the Ethereum protocol that will allow roll-ups to scale massively.

Obol Labs image tweeted by Collin Myers

Project lead of Obol Labs, Collin Myers, was glad to see Distributed Validator Technology (DVT) “on the top” of Vitalik’s Eth2 roadmap, and explained it as a new infrastructure that enables “Active-Active redundancy across Eth2 infrastructure deployments”, and suggested “a world where validator key theft becomes nearly impossible due to applied cryptography”.

We believe a more resilient Ethereum can be realized through a collaborative infrastructure protocol that protects against the disappearance of a few network operators. DVT can an enable this by allowing a group of network operators to act as one single validator together – something we like to call a multi-operator validator.

Related Reading | Ethereum Rallies 5%, Why ETH Could Surge To New ATH Above $5K

 

Ethereum
Ethereum price at $4,536 in the daily chart | Source: ETHUSD on TradingView.com
Calls For Tesla To Resume Bitcoin Payments As Mining Reaches 57% Renewable Energy

Bitcoin mining energy consumption has been one of the most addressed issues in the crypto space. Concerns over its energy consumption and environmental impact had been reasons cited during the China crackdown that saw miners exit out of the region en masse. The once bitcoin mining capital of the world had seen its hashrate crumble to zero following this move.

Automotive manufacturer Tesla had also cited the same reasons when it had removed BTC payments option for its electric vehicles after implementing barely two months earlier. According to CEO Elon Musk, the EV manufacturer planned on implementing BTC payments again but the catch was that bitcoin mining would have to reach at least 50% clean energy.

Related Reading | Croatia’s Largest Supermarket Chain Rolls Out Bitcoin Payments

Bitcoin Mining Crosses 57% Renewable Energy

The Bitcoin Mining Council which had been formed in June has been dedicated to tracking and reporting mining activities in the space. One of those has been the renewable energy usage in mining. The council which is made up of a network of bitcoin miners first reported in Q2 of 2021 that bitcoin mining activities had surpassed 50% renewable energy.

In October, the council had once again released a report addressing the energy consumption of mining activities. The Bitcoin Mining Council reported that renewable energy usage had gone up in Q3, touching at 57.7% renewable energy.

These numbers have evidently surpassed the threshold that Tesla CEO Elon Musk had set back in June as a prerequisite for resuming BTC payments.

Bitcoin price chart on TradingView.com

BTC crashes to $55K | Source: BTCUSD on TradingView.com

Calls For Tesla To Resume BTC Payments

Taking to Twitter, BTC supporters had called on Elon Musk to review his statement regarding BTC transactions for Tesla vehicles. Data from the Bitcoin Mining Council’s report had been quoted by others to show that mining activities are now being powered by more than 50% clean energy.

Others, however, have questioned the credibility of the numbers provided by the council. Pointing out information from the press release that said 33% of the global bitcoin network had taken part in the survey. Another user said that there was no way to get reliable data using paper surveys. Rather energy audits would need to be carried out to determine what percentage of energy is clean energy.

Related Reading | SEC Boss Acknowledges That Bitcoin Is A Competitor For U.S. Banking System

There is no doubt that Tesla resuming BTC transactions would be positive for the market. The first time the automotive manufacturer had implemented crypto payments had sent the price of BTC surging.

Elon Musk – or Tesla, is yet to address the issue of reinstating BTC payments despite the two reports from the Bitcoin Mining Council showing that mining has now crossed 50% clean energy.

Featured image from Ledger Insights, chart from TradingView.com
IOTA to Release Smart Contract Network ‘Assembly’ And Distribute ASMB Token

The ledger IOTA aims to become “a fully decentralized, feeless multi-asset ledger” by launching Assembly in 2022, a governance layer one for permissionless smart contracts, along with the native token ASMB that will open the doors for the network’s main stakeholders, who would be democratizing Assembly.

IOTA’s founders say the ledger is a “public permission-less backbone for the Internet of Things that enables interoperability between multiple devices.” It aims to provide decentralized transactions accessible for everyone, without the need for miners or blocks, offering solutions for the cost fees, increasing scalability, and staying secure by using the Tangle network.

As the Shimmer network was released only two weeks ago along with its own token -with real monetary value, most likely to be traded on crypto exchanges- to stake, some skeptical users questioned the actual need for Assembly, but enthusiasts have compared to a scalable Ethereum without imposed fees.

Smart contracts will be allowed to run for free, but there is an option to put a price when high computing power is needed, in which cases supply and demand will determine prices.

Smart contract chains can be fully run from Assembly’s own network, which is the reason for all activities to be anchored to the IOTA Tangle to provide trust by “making them fully immutable and secure”.

Related Reading | IOTA Smart Contracts Enter Beta Phase To Circumvent Network Flaws

The Staking Of Assembly (ASMB) Token

Proof of Stake also works to provide trust. As a decentralized network, of course, Assembly has no central system to reach if a user requires assistance, so staking comes to play as a wide community is meant to be built through the ASMB token, with members who care about the safety and maintenance of the network: validators.

If validators do not play the role of making sure the rules are followed, they get penalized. Just as well, playing by the rules generates revenue for validators in form of more tokens. All that is required to deploy smart contract chains or become a validator is to run a node or own “a small amount” of the ASMB token “to stake as a security deposit”.

The ASMB token will have “70% going to the community”. In the beginning, tokens will be created during a 90-day period when users will be able to “stake IOTA tokens in order to earn ASMB tokens.” -by locking IOTA on the Firefly wallet-, then tokens will be able to get claimed for free, and there will be a period 2 years for users to get their staking rewards.

20% of the initial token supply will go to IOTA holders. Afterward, there will be more staking periods for the ASMB token distribution. Assemble was further described by Dominik Schiener, IOTA’s co-founder, as:

A fully decentralized, permissionless network. It’s an extension of the Smart Contracts framework (live in Beta), and adds a validator pool, the ASMB token, staking and slashing. Anyone can deploy fully sharded smart contract networks on Assembly, while benefitting from the shared security, trustless interoperability, and feeless transactions.

No more bridges, relays or M-of-N multisigs. We’re here to connect smart contracts. … What makes Assembly so unique is that you can customize fees and incentives.

He also stated the Assembly’s journey is only starting and they will be sharing more details on the Builders Program and the support that teams building on Assembly and IOTA will receive. “Hint: It involves a lot of financial support”, he said.

Related Reading | How IOTA Could Reach $1B In Tokens Locked Before Chrysalis 2.0

IOTA
IOTA trading at $1.3910 in the daily chart | Source: IOTAUSD on TradingView.com