IOTA Rebased Welcomed by the Community

TL;DR:

We present the official results of the governance vote for the IOTA Rebased protocol upgrade proposal. A large majority of IOTA token holders have voted to upgrade IOTA to the new Rebased protocol.

We are happy to announce that the recent governance proposal to upgrade IOTA to the Rebased protocol has received a large majority of positive votes. IOTA token holders have voted in favor of what we believe to be the most important upgrade in IOTA’s long history. Scroll to the end of this blog post for a full breakdown of the vote results.

The decision by IOTA token holders to follow the development path proposed by the IOTA Foundation and the overwhelming support and positive responses we’ve received over the past few weeks from our ecosystem and partners promise a bright future ahead. We welcome the mandate given to us by the IOTA community to steer the project in what we believe to be the right direction.

The Path Forward

As already highlighted in IOTA Rebased: Technical view, the IOTA Foundation’s engineering team is preparing the IOTA Rebased mainnet release . The Public Testnet is live, and partners and application builders are preparing and testing the new technology stack. We invite all builders to join the movement and develop applications for our exciting new protocol.

A great sign of the increased interest in IOTA’s new protocol is that many independent validators are already onboarding the testnet to participate in hardening our tech stack and operational procedures so that the Rebased mainnet can start with a decentralized set of entities, ensuring its resilience. You can apply to become a testnet validator via this form, and we will review your application based on feasibility criteria and technical maturity.

Wrapping it up

For the mainnet release of Rebased, these conditions have been set to ensure a smooth transition:

• Minimum two months testnet phase, including a thorough stress test.
• Readiness review of all validators on the testnet.
• Completion of security audits during the testnet phase.
• Integration of IOTA Rebased by major exchanges.

Once these conditions are fulfilled, we’ll announce a release date for IOTA’s new Mainnet.

Official Vote Results

The governance vote, which ran from December 2nd through December 17th, asked, “Do you support upgrading the IOTA Mainnet to the proposed IOTA Rebased Protocol?”

• Answer “Yes, I support the upgrade to IOTA Rebased” received 31,647,575,919,696,580 votes (98.37%)
• Answer “No, I don’t support the upgrade to IOTA Rebased” received 474,777,288,656,110 votes (1.48%)
• Answer “Abstain” received 48,806,799,459,141 votes (0.15%)