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IOTA Announcing 70% of Supply Rewards Prior to Launch of Assembly Layer 1 Network

Thu, 12/02/2021 - 14:00
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Arman Shirinyan
IOTA to launch a new Assembly Layer-1 network and redistribute 70% of token supply to developers, creators and early adopters
IOTA Announcing 70% of Supply Rewards Prior to Launch of Assembly Layer 1 Network
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The IOTA ecosystem is getting ready to launch a new decentralized Layer 1 network, Assembly. The network will utilize a native ASMB token with zero fee possibilities, sharding and VM compatibility. The network will be governed purely by its community with the help of the native token that will be used for security, governance and reward participation.

Open ecosystem principles

In the case of Assembly, IOTA takes a different approach to the launch of the new product. The ecosystem's developers will not just be throwing money at an empty industry; instead, they will fund creators, developers and early contributors of the newly developed ecosystem.

IOTA is ready to redistribute 70% of the entire token supply among the aforementioned groups to fuel the power of creators and reward the most active contributors that directly affect the performance of the newly built ecosystem. The newly built Metaverse will be open for anyone who is willing to participate and make their contribution to the network.

In addition to fair token distribution and community governance, Assembly will offer a unique smart contracts architecture that is aimed at solving issues with transaction fees, which is the main barrier between a blockchain-based project and full scalability.

Scalability opportunities

Developers are able to build decentralized applications with the ability to set low or even no fees at all for operating with their applications. Assembly is already set for sharding that allows scaling the network to thousands of TPS. All smart contracts on the network are fully connected and interact with each other with almost nonexistent transaction fees.

Assembly makes its first step toward creating a fair and truly decentralized ecosystem that will be available for everybody with the help of distribution of power and ownership to its community.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.