IOTA Q&A: Rebased Becomes More Concrete – But Start Date Still Missing

IOTA Q&A: Rebased Becomes More Concrete, But Launch Date Remains Elusive

What does the IOTA Decentralized Autonomous Organization en (IOTA DAO) actually do, and where is the so-called Rebased project heading, which aims to integrate IOTA into the world of decentralized finance (DeFi)? These and more topics were discussed by IOTA Head of Growth Dan Simerman and Dominik Schiener, the new head of IOTA’s Supervisory Board, in a question and answer session.

Rebased: On the Road to Its Own Roadmap

Simerman explained the latest developments regarding Rebased. The project, which is managed by a new team, aims to make smart contracts on IOTA accessible and compatible across different ecosystems. Rebased is intended to cover several blockchains and is hoped to develop into a universal interface for DeFi. Simerman did not give a specific date for the release of a roadmap for Rebased but emphasized that the team is currently reorganizing and aligning its core objectives.

IOTA 2.0 is Still a Long Way Off

Schiener once again dampened expectations regarding IOTA 2.0, which often goes by the nickname “Coordicide”. Integration of IOTA 2.0 on the mainnet is not expected until 2024. In order to push things forward, community engagement should be increased and partnerships in the ecosystem intensified. Simerman also pointed to increased cooperation with universities in North America, which could have a positive impact on the pace of IOTA development.

More Clarity Soon on IOTA Treasury Management

The meeting also tackled the task of finding a fair and effective way of managing the IOTA treasury. Schiener strives for transparent methods that would also satisfy community interests. The treasury is supposed to strongly support development teams and projects consistent with IOTA’s goals. A dedicated committee will be formed soon to oversee financial management.

Conclusion: Trust in Advice Pays Off

According to Dominik Schiener, the transformation of IOTA into a DAO represents an important step toward decentralization. He added that the Advisory Board, which involves experienced and competent industry players, will play a significant role in future successes.

All in all, key positions and projects within IOTA are currently being reassessed and consolidated. This can be seen as proof that feedback and suggestions from the community and observers are being taken seriously.