At IOTA there is again the possibility to obtain assembly (ASMB) for free by staking. The promotion begins Friday, April 22 and will initially run for 90 days. The assembly is not yet freely traded.
At the end of March, the first staking period at IOTA that the ecosystem had to offer ended. Shimmer (SMB) and Assembly (ASMB), two projects that will be based on IOTA technology in the future, have been distributed. As previously promised by the IOTA Foundation, staking for Assembly will now resume. From Tuesday, IOTA can be registered via the official Firefly wallet for assembly pre-stake and from Friday (April 22) the virtual distribution of ASMB will start. 0.000002 ASMB is set by MIOTA every ten seconds over 90 days.
Assembly was introduced to the public in December 2021 and is intended as a commercially oriented side project of the IOTA Foundation. IOTA boss Dominik Schiener sits on the board of Assembly. $100 million in venture capital has been raised for Assembly, which hopes to succeed in DeFi, NFT and blockchain games. However, ASMB is a theoretical token for the foreseeable future, Schiener has promised a working mainnet to the Assembly by the end of 2022. Only then can tokens be transferred and traded with them.
The Assembly’s chances of success must be considered critically. Since IOTA is apparently making no progress in developing a solution to remove the central coordinator, the assembly will probably also be based on a central structure and therefore will not initially meet the basic criterion of decentralization of the blockchain. Whether developers and investors want to trust Assembly under this premise will be a key question.
Assembly staking at IOTA – how it works
To stake ASMB with IOTA, the official Firefly wallet version 1.5.0 or higher is required. 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 “Staking” tab and you can register your IOTA there in order to be continuously credited with ASMB. IOTA reserved for staking can be withdrawn at any time, so you do not have to commit every 90 days. In the future, further staking periods for assembly at IOTA are pre-scheduled, a total of 20% of all ASMBs are to be distributed by staking. During the first ASMB staking from December to March, theoretically 5.8% of all future staking went to IOTA wallets.
Conclusion: Assembly wants to enrich IOTA – but the skepticism is justified
Staking on IOTA had generated a lot of interest at the end of 2021, supporting the price curve of IOTA at levels above $1.20. But the euphoria seems to have evaporated, IOTA is currently trading around US$0.66. The reasons for this are that Assembly (and also Shimmer) still have to wait for their debut on the stock exchange and the realization that a decentralized IOTA 2.0 aka Coordicide is still nothing more than a theoretical goal, which is experiencing a setback after the other in the implementation . However, if you already have IOTA credit, you should also take advantage of the assembly staking option. Buying IOTA specifically to participate in ASMB staking, on the other hand, seems like a pretty bold strategy.
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