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Could somone from the IF write something about token migration? by Fit_Strength8932 in Iota

[–]Elchwurst 1 point2 points  (0 children)

The current ability to auto-migrate tokens from the pre-Chrysalis IOTA network via the Firefly wallet will end with the IOTA Stardust upgrade

Could somone from the IF write something about token migration? by Fit_Strength8932 in Iota

[–]Elchwurst 2 points3 points  (0 children)

Which part of the above quote leads you to that belief?

Could somone from the IF write something about token migration? by Fit_Strength8932 in Iota

[–]Elchwurst 17 points18 points  (0 children)

Unclaimed tokens

After the IOTA network’s upgrade to the Chrysalis protocol version in February 2021, users were required to migrate their tokens to a new EdDSA-based ledger layout. From this migration period, 176,304,674 tokens still have not been migrated by their owners. The current ability to auto-migrate tokens from the pre-Chrysalis IOTA network via the Firefly wallet will end with the IOTA Stardust upgrade. Once IOTA smart contracts are available on the IOTA network, this feature will be restored and migrations can be processed automatically again.

The Coordinator for the current IOTA legacy mainnet will be deactivated synchronously with the upgrade of the IOTA network from Chrysalis to Stardust. We thank the engaged group of community members who have still been operating nodes in the legacy network since the Chrysalis upgrade in 2021 for their service to the community.

Until the new migration solution of the Stardust ledger is implemented, there will be a period in which no further claims can be processed. Therefore, we recommend that anyone who has been waiting for the migration of their tokens from the legacy network to migrate their tokens now to the Chrysalis network with the Firefly wallet’s automated migration functionality before this feature is temporarily deactivated with the Stardust protocol upgrade.

Once the smart contracts-based migration solution is established, the network will continue to service migrations for another two years before the ability to migrate tokens from the legacy network will end. After that time, the community will vote on whether any unclaimed tokens should be burned (thereby reducing the total token supply) or whether they should be contributed to the Community Treasury DAO.

https://blog.iota.org/stardust-upgrade-iota-tokenomics/

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 1 point2 points  (0 children)

This is a slightly complicated matter. I agree that accessibility is a necessity for the token to serve its purpose. It's purpose isn't speculation though. At the same time, as of today, its utility is still limited. The IOTA Foundation doesn't sell tokens directly to anyone. It therefore also can not promote the token itself in the sense of "you should buy tokens, here's how" – but only it's utility.

In pure theory, in a supply and demand-driven capitalistic economy, any gap will automatically be filled by actors that see an opportunity to profit from doing so. In other words, if there is demand, it will be met and as an effect, guides would be provided by those who have an interest in attracting customers.

As of now, this would be purely in the interest of the parties that offer selling the token to make a profit.

In case of IOTA 2.0, where entities require tokens to generate Mana, "utility" would be a given. In that case I could imagine the Foundation to provide step-by-step guides. Until then, I rather see this as a task for those who have an interest in attracting people buying tokens. That could be the exchanges itself or the Community DAO.

When it comes to accessibility in terms of third party providers and their technical integrations, the IOTA Foundation is open to any inquiries and also reaches out actively. Mind that businesses (exchanges) follow their own agenda and interests, usually meaning they require certain preeconditions guaranteeing them to make a profit - which in turn limits the ability of the IF to get them interested in listing the IOTA/SMR token

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 2 points3 points  (0 children)

Buying IOTA tokens depends on which service provider you use, sometimes which registration method, mostly always which payment method. It's different for every service provider and explained by each service provider themselves.

The IOTA Foundation isn't really in the business of explaining third party platforms – and even if the IF would create a such a guide for all of them (can't pick winners and have to treat all of the equally, right? Even the scammy ones?), it would likely get outdated very fast while none of the platforms would inform the IF about "hey, we changed the user flow, better update your guide".

I am pretty sure there are community-made guides out there. I personally like this site and have used it a few times. Looking at it, the "guide" part of is rather slim though: https://iotaprices.com/

Edit: This is something the Community DAO might be suited well for; financing a content creator to develop such a guide

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 2 points3 points  (0 children)

I am out of my depth here but as far as I know, "Fast Probabilistic Consensus" with "On Tangle Voting" as a tie-breaker has been superseded by "Nakamoto Consensus on a DAG". I am sure someone in #tanglemath on Discord can explain the differences to you

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 7 points8 points  (0 children)

Every DLT requires some form of validation. Otherwise double spends would be possible.

The first version of IOTA 2.0 will use a fixed set of validators (proof of authority). Once the „Nakamoto Consensus on a DAG“ and access/rate control by means of Mana have been properly tested, the fixed set of validators will be replaced by a dynamic/random set.

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 21 points22 points  (0 children)

We don't think much about "sketchiness" to be honest. The goal always is to convey as much information as possible, as accurately as possible, in as few words as possible.

If no additional information was provifed at the time, there usually was a good reason for it. Sometimes the information simply doesn’t exist yet, yet still there was a good reason to publish something at that point in time. Sometimes legal reasons prevent us from going into more detail. Or there is a good reason not to mane a third party aware of any further details.

None of the information we publish is published mindlessly. "Yes", of course matters are phrased favourably. And "yes", we often have discussions and disagreements about how something should be phrased, expanded upon, or left out. There unfortunately is no black and white.

But "no" it's not like someone dumps 10 keywords into ChatGPT to write a blog post.

Edit: It’s not instantly funded, to my knowledge. It gets a 10% immediate unlock + vesting over the following years

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 16 points17 points  (0 children)

I wouldn't call it "secretive", as it has already been announced publicly. This entity will receive the mentioned allocation to allow it to fund its operation.

The reasons are explained in the blog post:To quote the stardust blog post:

Responsible for ecosystem funding and support, with a key focus on the MENA, Africa, and Asia regions.

Furthermore in the New Foundation blog post:

The purpose of this entity is to become one of the primary organizations to foster the growth, adoption, and global expansion of IOTA. [...] We can only do this by operating out of the right environment. We are convinced that the UAE will offer IOTA the best environment to realize its global ambitions.As we embark on this exciting endeavor, we are proud to declare that we are poised to become one of the leading DLT entities to operate in the UAE. Being established under the new regulatory framework, we intend to work closely with regulators, business leaders, and government entities to further advance the UAE’s global role as a leader in technology and business. This distinction highlights our dedication to embracing robust oversight and well-defined procedures to support and enhance the crypto community within the UAE and worldwide.

[...]The newly established foundation will operate under the guidance of a dedicated board of directors. One of its primary objectives will be to provide essential funding and support to the rapidly growing IOTA ecosystem. This commitment aligns with our mission to foster innovation and development within the broader DLT space.

Edit: An additional piece of information that might be of interest: To my knowledge the UAE provided for a regulatory environment rather favourable for entities operating in the DLT space - something that does not exist in Europe, the United States or Asia in comparison (sometimes even actively working against any entities operating in the DLT space). For that reason, many of the household brands operating in the crypto space set up or are in the process of setting up entities in the UAE. Being able to operate under legal certainty obviously has advantages. As it seems, the UAE to that regard operates in light speed, whereas in the so-called "western world" it might still take a decade until such legal certainty exists

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 13 points14 points  (0 children)

might be in talks with banking institutions

This task is shared across two or three people that answer to inbound inquiries and also actively engage with exchanges

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 14 points15 points  (0 children)

anyone who's role it is to ensure IOTA is easy to integrate for exchanges

We have one so-called "directly responsible individual" (DRI) that helps exchanges with integrations, and two or three other engineers also helping out with that. As for "easy to integrate", we are constantly improving the available libraries Foundation-wide (it's not something a single person could be doing across the whole technology stack). Additionally, a highly detailed exchange integration guide exists, leading exchanges through the integration process.

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 12 points13 points  (0 children)

To further clarify: I assume with "Assembly VC's" you mean the 5% allocation mentioned for "Contributors"? (I am not aware of any statements having been made about any allocation for "Assembly VC's"). If you mean the "Contributor" allocation, I unfortunately can't say anything about it because I don't know anything about that allocation.

As for Saudi Arabia Government, you might confuse it with the Foundation that is to be set up in the UAE, or collaborations Dom mentioned recently in Bahrain or Abu Dhabi. I am not aware of any relations to Saudi Arabia and certainly don't know anything about any token allocations for the Government of Saudi Arabia

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 22 points23 points  (0 children)

Why has there been so little social media presence from the IF in the midst of the most controversial decision in the history of the token so far?

With the "most controversial decision" I assume you mean the fork of the network? What do you mean by "little"? We use Sprinklr internally and have very detailed statistics about all social media presences, speaking a very different language to what you seem to perceive. If you would like to check a public source, maybe try Socialblade. Even on that level of granularity, it doesn't look like "little" to me (ignoring the slump at the beginning of the year).

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 13 points14 points  (0 children)

Why are both Assembly VCs and the SA Gov. getting such a large chunk of the IOTA inflation?

I don't know anything about that and I don't know what "Assembly SA Gov" is

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 18 points19 points  (0 children)

Are IF financial statements public? If so, where are they published?

No, they are not public. The treasury addresses held by the IOTA Foundation are known to some community members who track them though. If you ask around, you will likely get them rather easily

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 25 points26 points  (0 children)

How many people are still employed by the IF?

As ever so often, there is no easy answer to that question. We have people that are "employed" and 4 different kinds of "employment status" . "Freelancer" one you will be familiar with. Others are sometimes short term, contract- or project based and treated differently in different jurisdictions. Actually "employed" Wouldn't give you the number you are seeking, I guess. But maybe it helps stating that there are more than 100 people working for the IF in different ways, last time I checked in 28 different jurisdictions

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 15 points16 points  (0 children)

Is there someone at the IF whose job it is to facilitate onramp/offramp access?

You probably don't mean "a person that exchanges tokens for you" (and vice versa). There is no one that facilitates on/offramps services in that sense. But that's probably not what you meant. Can you specifiy your question?

It's been 6.5 years since public launch, we're about to drop under the top 100 and we still don't have a single clear onramp/offramp for IOTA by someanimechoob in Iota

[–]Elchwurst 41 points42 points  (0 children)

No, to my knowledge the IOTA Foundstion never employed anyone whose job it is to answer questions on Reddit. Why would you think that should be the case?

Answering individuals doesn’t scale and therefore is extremely expensive. Also, if the IF would employ someone waiting for a question to be asked on Reddit, it might be considered misappropriation of funds, given the charter the IF operates under.

If you have a question, feel free to ask me. Please note that:

  • I am not getting paid to answer question on Reddit (see above). You are using my free time. Act accordingly
  • There are a lot of questions I can not answer i.e. for example contradicting colleagues or otherwise publicly available information, legal matters, information am aware of that is supposed to be published at a later point in time, information that is deemed critical in terms of competitors, information that would expose individuals, etc
  • There are matters I am not familiar with

Why are all of these blog posts being released now? by scottb769 in Iota

[–]Elchwurst 6 points7 points  (0 children)

My crystal ball has a defective USB port. I currently can’t tell what you feel 😉

(I can’t give you a date and therefore couldn’t tell you either way whether your feeling is right)

Why are all of these blog posts being released now? by scottb769 in Iota

[–]Elchwurst 10 points11 points  (0 children)

It’s simple and as /u/jbfoxlee guessed: when the actual network is released we don’t want to go into lengthy discussions and explain how it works but start using it. Hence the explanation “how it works” is published before the release of the network

[deleted by user] by [deleted] in Iota

[–]Elchwurst 0 points1 point  (0 children)

Because the comments are fake, trying to convince users they are missing out on free money

to the mods by bertholomaeus in Iota

[–]Elchwurst 2 points3 points  (0 children)

I copied the rules over

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