The three-month staking period for Assembly (ASMB) and Shimmer (SMR) at IOTA comes to an end today (Monday). The IOTA Foundation gives an outlook on what is planned with the projects in the medium and long term.
On December 28, 2021, the opportunity to receive additional tokens through staking started for the first time on IOTA. For a period of 90 days, Assembly (ASMB) and Shimmer (SMR) were distributed to all investors who reserved their IOTA for staking in the official Firefly wallet. The campaign will be concluded today, Monday, and the IOTA Foundation is already drawing a forward-looking conclusion via blog post.
Accordingly, they are positively surprised by the response that the staking of Assembly and Shimmer found with IOTA. A good 75 percent of all IOTA was made available for staking. The IOTA Foundation vaguely calculates a value based on the current market capitalization of 2.5 billion U.S. dollars and writes: “Thus, IOTA would theoretically have reached a respectable 11th place among the DeFi ecosystems in terms of deposited capital at DeFiLlama. However, DefiLlama does not cover IOTA at all and does not see Staking as a DeFi activity in the default settings.
Soon to be next staking opportunities in IOTA.
As we have also written repeatedly: IOTA investors already see allocated Assembly and Shimmer in their Firefly wallets, but these cannot be transferred and eventually traded until the mainnets for ASMB and SMR go live. This is supposed to happen first with Shimmer, but a targeted date for this is not known. One must first wait for internal testing and then a public testnet for Shimmer, writes the IOTA Foundation. But as soon as Shimmer sees its official launch, it should also be possible to stak SMR again.
At Assembly, on the other hand, staking will be unlocked again very soon, according to the IOTA Foundation. Because there is the promise to be able to stake with IOTA for a total of 24 months ASMB. IOTA staking for Assembly should then become possible again when a new version of the Hornet node software is released and a new desktop version of the Firefly wallet. No target dates exist yet for these two updates.
In the medium term, namely when Assembly receives a mainnet, ASMB for Assembly should also be able to be directly clocked. Thus, the IOTA Foundation counts a total of three options for staking in its own ecosystem in the future.
Conclusion: IOTA praises Staking – but price curve disappointing
Staking on IOTA had generated interest in advance and stabilized the price curve. But today’s look at the situation is sobering: Bitcoin (BTC) as the lead currency among cryptocurrencies is currently trading pretty much at the same level as at the end of December when IOTA launched Staking, after the usual ups and downs. IOTA itself, on the other hand, has lost ground in the price curve from around $1.40 to around $0.90 in the same period. One reason for this may be that the Assembly and Shimmer projects under IOTA are basically “unlaid eggs”, for which ideas exist and now virtual tokens, but no evidence of practicality.
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