IOTA expressed that IOTA Staking is officially Unveiled.  All Shimmer tokens will be distributed to IOTA stakers. Users can stake MIOTA to get free SMR tokens.

Community Response:  I do have my MIOTA on firefly wallet. Will the staking start automatically or do I need to activate it in any way?

This is probably one of the smartest moves of the IOTA Foundation within the last years. It is kind of a soft fork, allowing to release and test future technologies on Shimmer with its own token, but then bring the value back to iota after battle testing and increasing iota value by staking.

Why not just run an unincentivized test network such as the Dev Net they are currently operating? And what’s the difference to that? I would appreciate your input as I’m slowing Mixing up all things such as DevNet/shimmer etc.

Shimmer is running on main net on bee and hornet nodes (not DevNet GoShimmer nodes). This makes implementing new features into IOTA 2.0 convenient. 2. Shimmer enables experimentation with tokenomics due to incentives (DevNet is not incentivized), again, streamlining IOTA 2.0.

Would you explain me what you mean by “but then bring the value back to iota after battle testing and increasing iota value by staking.

Well, once the new features have been implemented and used on shimmer, it will be implemented on IOTA – so the value is brought back to IOTA. That the IOTA token now is allowing staking to earn Shimmer tokens increases the value of the IOTA token right now already.

Can anyone please give some clarity about the fact that cryptocurrencies used for staking are likely to be subject to a holding period extension of 10 years!? This is a massive limitation in my eyes.

Is it really though? Look at Kusama and what wealth it brought to stakers. I wouldn’t mind paying taxes if I was that filthy rich.

Staking on Ledger possible?  I have multiple profiles in one wallet. Do I need to stake per profile, or do I stake per wallet?

Is there a good explanation of staking? What profits can one expect with which token investment? What are the consequences for taxation? What are the holding periods? Will the holding period of one year be lifted for the tokens used?

IOTA is a better more fair system, but people don’t think like this. People thinks they are doing well getting 5% on a token that is inflating 10% a year. People are irrational unfortunately.

Bravo, this has been part of the problem. Other projects just get promoted and funding because they continue to inflate, and allow IDOs, crowdloans.

Why not just run an unincentivized test network such as the Dev Net they are currently operating? And what’s the difference to that? I would appreciate your input as I’m slowing Mixing up all things such as DevNet/shimmer etc.