IOTA (IOTA) Community to Vote on the Future of the Rebased Protocol, Co-Founder Dominik Schiener Hints at Potential ETPs and ETFs

CNF recently reported the start of the Rebased Protocol's voting process, during which the IOTA (IOTA) community would decide on this significant shift.

IOTA co-founder Dominik Schiener has hinted at the possibility of exchange-traded products (ETP) and exchange-traded funds (ETF) being approved following the community vote on the Rebased Protocol. Schiener also highlighted the potential for high staking rewards of 10 to 15% APY, which could aid in institution adoption.

"Really exciting to see all these professional validator and staking providers support #IOTA 👏$IOTA staking will make the institutional adoption of IOTA so much easier. Investors will earn staking rewards with 10 – 15% APY. It’s about time we think about IOTA ETFs and ETPs."

Schiener's post came in response to an official announcement from IOTA, introducing the first batch of validators joining the Rebased test network. As we analyzed, some of the validators include:

Binance Staking ServicesKraken TechnologiesStaked (Animoca Brands)AllnodesChorus OneAnkrGetBlockIOV LabsEverstakeCoinMetroMadfish Solutions

The Voting ProcessAs earlier reported, the voting exercise commenced on December 2 and will span seven days. Users who maintain their tokens throughout the counting phase will have 100% of their voting power. For those who stop voting early or start voting after the counting phase, their voting power will be proportionally reduced.

Moreover, the IOTA Foundation will be fully responsible for upholding the integrity of the voting process.

"The IOTA Foundation, which is responsible for organizing, conducting, and overseeing the vote, ensures the integrity of the process. The node software automatically counts all votes, tracking and verifying the accumulation of voting power based on Tokens used per milestone. After the counting phase, community node operators are invited to verify and validate the final results before we publicly announce them."

Upon implementation, the Rebased Protocol will ensure that the marketing time is significantly shortened. Additionally, it will introduce programmability and full decentralization to the ecosystem. With this initiative, the IOTA's Digital Product Passport (DPP) could be used as collateral on lending platforms. IOTA will also be able to onboard stablecoins to be minted on the network.

"IOTA Rebased delivers this promise to IOTA and helps us achieve significantly faster time to market and maturity of our technology stack. It would allow us to scale up our adoption efforts and support our ecosystem to build a new wave of applications that drive significantly more value to IOTA."

At press time, IOTA (IOTA) was trading at $0.52 after surging by 137% in the last seven days and 403% in the last 30 days.