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IOTA Treasury starts voting – build or burn?



 In the course of IOTA's history, there have been repeated migrations of the network, which have required users to migrate their MIOTA as well. Of course, the majority of all investors have always done this to secure their own crypto assets.


However, there were always users who left their tokens for unknown reasons and a pool was formed from this. The so-called IOTA Treasury contains IOTA worth around 17 million US dollars that have not been claimed by their owners. This also includes tokens that were not sold during the initial token sale before the start of distributed ledger technology.


In particular, these unsold MIOTA have been a stumbling block on various occasions in the past. On May 27, the community should have the opportunity to vote on what should happen with the funds.


Build oder Burn?

The motto “ build or burn ” expresses the two options that are up for voting. If the majority decides to destroy the funds, then IOTA's supply will be reduced by the amount in the pool.


However, should the community decide to use the funds, then the whole matter becomes more complex. In this case, one would like to award funds to support projects that are based on IOTA or that can advance it a bit. Accordingly, follow-up votes are planned so that the community can control the allocation.


Before that, however, the entire decision-making process has to be discussed and developed. It is therefore foreseeable that the funds could remain in the IOTA Treasury for quite some time before they are perhaps sold on the market by funded projects. In any case, the value of the tokens has drastically reduced since the summer of 2021 due to the IOTA price collapse.


If you would like to take part in the vote, you will find comprehensive instructions and more detailed discussions of the goals on the IOTA website .

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