The IOTA ecosystem is gearing up for a crucial governance vote as the IOTA Foundation proposes a strategic use of unclaimed tokens to supercharge the growth of the IOTA EVM. The proposal, officially titled “[IGP-0005]: A Proposal for Supercharging IOTA EVM Growth,” aims to inject much-needed liquidity into the EVM ecosystem.
The proposal leverages a unique opportunity presented by a pool of IOTA tokens that were never migrated from the original coin network to the Chrysalis upgrade in 2021. The Coin Foundation believes that by strategically deploying these assets into key trading pools, the overall attractiveness and stability of the IOTA EVM network can be significantly enhanced. Deeper liquidity, the proposal argues, will make it easier for new users to onboard and participate in the coin ecosystem.
Having successfully completed the initial phases of the governance process, the proposal is now open for a final vote by coin token holders. The voting period will span two weeks, starting today and concluding on July 26th. The first seven days will be dedicated to the commencement phase, during which token holders can cast their votes. Subsequently, a seven-day counting phase will determine the outcome of the vote.
The IOTA Foundation is also seeking a community member to assume the role of observer for this governance process. Interested individuals can apply through a designated web form.
The outcome of this vote is expected to have a profound impact on the future trajectory of the IOTA EVM. A positive vote could potentially accelerate the ecosystem’s growth, attracting new developers and users to the platform. Conversely, a negative vote might hinder the coin EVM’s development and competitiveness in the broader blockchain landscape.
As the coin community prepares to exercise its governance rights, all eyes will be on the voting results. The decision made by token holders will undoubtedly shape the future of IOTA and its position in the evolving cryptocurrency market.
