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- The on-chain voting period for IOTA token holders on the new proposal, IGP-0007: IOTA Growth Initiative, to raise public awareness and improve on-chain network metrics has officially begun.
- Voting will be conducted on the IOTA mainnet and facilitated through the Firefly and Bloom wallets, providing a smooth and secure voting process.
The IOTA Governance Voting process is now open for token holders, with the introduction of proposal IGP-0007 aimed at launching the IOTA Growth Initiative. Official reports indicate that this proposal seeks to accelerate two key areas of ecosystem growth: Public Awareness and On-Chain Network Metrics. Having reached a soft consensus within the community, the proposal is now ready for an official governance vote through the IOTA Firefly and Bloom Wallets.
The voting phase began on 13th January 2025 and will continue until 20th January, with a seven-day pre-vote phase. The counting period will start on 20th January and will conclude on 27th January 2025.
A major aspect of the proposal is the unlocking of dormant IOTA assets held by The Tangle DAO LLC, a community-controlled non-profit organization. The DAO currently holds 44.8 million IOTA tokens, which will be allocated for growth initiatives if the proposal is approved. The community-elected Tangle DAO committee controls these assets and will only be used if the community votes in favor. Notably, this proposal represents Phase 2 of the initiative, following Phase 1 in December 2024.
The IOTA Growth Initiative will drive ecosystem expansion through two pillars: the IOTA Awareness Initiative and the IOTA On-Chain Initiative.
- The IOTA Awareness Initiative
The IOTA Awareness Initiative focuses on increasing the visibility of the IOTA ecosystem by prioritizing marketing, education, community support, and hosting impactful real-world crypto events. The initiative aims to make the platform more appealing to projects, investors, and talent by raising awareness of IOTA’s capabilities and value.
Central to this effort is the active involvement of the IOTA community, which plays a critical role in fostering a welcoming environment for newcomers and stakeholders. This initiative also supports notable IOTA advocates who educate the public, organize activities like meetups and hackathons, and drive engagement. Additionally, on-chain incentives will be introduced to attract new users, enhance participation, and improve key network metrics like active user engagement.
- The IOTA On-Chain Initiative
Complementing these efforts is the IOTA On-Chain Initiative, which is dedicated to bolstering the ecosystem’s foundational metrics, such as Total Value Locked (TVL), liquidity, and decentralization. These metrics are critical for drawing investors, traders, and decentralized projects to the IOTA platform while allowing the Tangle DAO to collect protocol rewards, manage price volatility, and enhance key network indicators.
All operations will adhere to Tangle DAO LLC’s stringent safety protocols, which include thorough risk assessments, committee approvals, and mandatory security audits.
The proposal arrives at a pivotal moment for IOTA, as the highly anticipated IOTA Rebased Network Update is set to launch in 2025. As we previously reported, this upgrade promises to enhance the network’s scalability, programmability, and decentralization. Building upon the existing architecture, the protocol will introduce a range of features to improve overall performance. Among its standout advancements is the integration of MoveVM, a virtual machine originally developed by Mysten Labs for the Sui Network, which will enable advanced programmability directly at the Layer 1 level, marking a major milestone for the IOTA ecosystem.
If the proposal passes, the IOTA Awareness Initiative and IOTA On-Chain Initiative will be established within the Tangle DAO LLC. Both budgets will be managed according to the specified rules, and the Tangle DAO committee will facilitate the implementation of the initiatives. IOTA tokens will be transferred to two separate multi-signature wallets, one for each initiative, under the control of the five elected committee members.
Crypto addresses and financial activities will be publicly recorded to ensure transparency and accountability.
At press time, IOTA price was trading at $0.3272, up 8.03% in the last 24 hours, with a market capitalization of $1.1 billion, indicating investor optimism.