[DRAMA] in a unilateral decision IOTA Foundation CEO announces 60% new token supply
In recent days, IF took IOTA community by surprise, CEO Dominik announced a new tokenomics .
1.8b new tokens will be printed in 2 weeks raising supply from 2.8b to 4.6b, that move hit hard on IOTA investors and community members. it means diluting current investors value holding by 3/4 .
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Although there is a governance framework and on-chain voting via wallet in place this decision was taken unilaterally, no discussion or voting from iota members, who have a way to vote using iota own platform.
It's worth mentioning that IOTA always boast about fixed supply
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What made IOTA community furious is that IOTA, to fund its operation, created a staking mechanism, by staking IOTA and receiving ASMB token. this will obsolete in the next upgrade and stakers felt that they have been tricked not to sell their iota token for useless token, though they will be airdropped part of the new supply but was not worth the staking wait.
Many raised the concern that it was a way for Dominik to further enrich himself. A small group of "contributors" will receive tokens at a discount. He is one of these contributors.
All the previous millions spent since project started and no transparency provided for community