• IoTeX recently passed the 13th Improvement Proposal (IIP-13) which introduces Ether liquid staking derivatives.
• 97% of IOTX token holders participating in the vote voted in favour of the proposal.
• The IIP-13 proposal adds support to represent staking buckets as NFTs and allows dApp developers to easily launch liquid staking dApps.
IoTeX Passes IIP-13 Proposal
At press time, IOTX was trading at $0.0261, up 1.02%. The recently passed proposal will introduce ether liquid staking derivatives and native support for representing staking buckets as NFTs on IoTeX. 97% of IOTX token holders participating in the vote voted in favour of the proposal, resulting in 141 million IOTX tokens being staked and increasing network security with more validators on the blockchain.
Benefits Of IIP-13 Proposal
The passing of IIP-13 has resulted in a bullish market for IOTX, with it trading at the same level where it was trading on March 18th prior to the proposal. In addition, this new protocol places IoTeX among leading DeFi protocols like Lido whose native token LDO has seen an appreciation of over 200% in past three months alone due to its liquid staking protocols.
What Is Liquid Staking?
Liquid Staking is when users are able to stake their tokens or coins into a smart contract which then holds them securely while they remain accessible and can be used for other purposes if needed – such as voting or making payments etc. This also has benefits for dApp developers as they can quickly launch liquid staking dApps without having to manage stakes directly on the blockchain itself, thus improving use cases and contributing heavily towards value proposition of IOTX tokens held by top 10 richest addresses who own 89.87% of all available token supply according to data from CoinLore .
The passing of IIP-13 means that not only is there a bullish market for IOTX but also that IoTeX is now placed among some of the leading DeFi protocols which have seen massive success through its liquid stakings protocols. This improved use case will contribute heavily towards value proposition held by top 10 richest addresses who own 89.87% of all available token supply according to data from CoinLore .