IoTeX DAO voted 97% in favor of adding Ether Liquid Staging derivatives

According to reports, the governance community of IoTeX, the Internet of Things blockchain platform, voted to support the mortgage of Ethereum derivatives, with 97% of token holders supporting this move. About 141 million IOTXs have been pledged to support the 13th Improvement Proposal for the Network (IIP-13), which increases the IOTX pledge ratio and enhances network security by expanding the number of authenticators or entities that process transactions and maintain blockchains. The proposal also proposes to add support locally, representing pledge buckets as irreplaceable tokens (NFTs), so that liquidity pledge agreements can manage their pledges through smart contracts.

Interpretation of this information:

The governance community of IoTeX, a blockchain platform for the Internet of Things (IoT), has voted in favor of supporting the mortgage of Ethereum derivatives. The overwhelming support of 97% of IOTX token holders has led to a pledge of 141 million IOTXs in order to support the 13th Improvement Proposal for the Network (IIP-13). This improvement proposal seeks to increase the security of the network by expanding the number of entities responsible for processing transactions and maintaining the blockchain.

One key aspect of IIP-13 is the proposal to increase the IOTX pledge ratio, which would require network participants to pledge a higher amount of tokens. This not only increases the security of the network but also incentivizes network participants to take an active role in maintaining it. Additionally, the proposal includes the use of irreplaceable tokens (NFTs) to represent pledge buckets, allowing for more efficient management of liquidity pledge agreements through smart contracts.

This vote demonstrates the community’s commitment to increasing the security and efficiency of the IoTeX network, as well as their willingness to explore new mechanisms such as the use of NFTs. The platform’s focus on IoT has the potential to revolutionize a range of industries, from supply chain management to smart home technology. By prioritizing network security and incentivizing active participation, IoTeX is positioning itself as a leader in this emerging field.