• IoTeX’s recently passed improvement proposal (IIP-13) will introduce Ether liquid staking derivatives and native support for representing staking buckets as NFTs on IoTeX.
• The proposal was voted in favour by 97% of IOTX token holders participating in the vote, resulting in a bullish reaction from the price of IOTX.
• The addition of liquid staking protocols to the IoTeX blockchain is expected to improve the use cases and value proposition of the IOTX token.
IoTeX Governance Community Votes for IIP-13
At press time, IOTX was trading at $0.0261, up 1.02%. The recently passed improvement proposal (IIP-13), which was voted on by 97% of IOTX token holders participating in the vote, will introduce Ether liquid staking derivatives and native support for representing staking buckets as NFTs on IoTeX.
The Benefits of IIP-13
The IIP-13 proposal also adds support to represent staking buckets as NFTs to allow liquid staking protocols to manage their stakes using smart contracts. This will allow dApp developers to easily and quickly launch liquid staking dApps and improve the network’s use cases and also contribute to the value proposition of the IOTX token, which is held by 89.87% of all available tokens according to data from CoinLore.
The Impact on Price
IoTeX (IOTX) price reacted favorably after three days of a bear market after IIP-13 was approved with 97% votes in favor. The token is now trading at its pre-vote levels seen on March 18th. 141 million IOTX tokens were also staked in favor of this proposal, significantly increasing both network security and validator count due to higher stake ratio overall.
Liquid Staking Protocols
Introducing liquid protocolsto IoTex’s blockchain will place it among leading DeFi protocols such as Lido whose native token LDO has appreciated more than 200% over last 3 months alone making it an attractive option for investors looking for good returns from DeFi projects other than Ethereum based ones .
Conclusion
The introduction of Liquid Stakings Protocols into IoTEX’s Blockchain is likely to open new avenues for development on its platform while enhancing its value proposition & use cases significantly making it an attractive investment option compared other cryptocurrencies & DeFi projects out there due higher potential returns associated with them .