Binance, the world’s largest cryptocurrency exchange, has issued a warning for a well-established altcoin.
At this point, Binance warned its users about the altcoin called IOTA, announcing that it has switched to the new token-economy model.
Binance stated that after the new model, the total supply and circulating supply of IOTA will increase significantly and that a risk warning for IOATA will be included on the transaction page.
“The total supply and circulating supply for IOTA (IOTA) will increase significantly. Users will also be shown a risk warning pop-up and banner on the Binance trading page.”
In the official statement made by the IOTA team, it was stated that IOTA will switch to a new tokenomic model called “IOTA Rebased”.
With this new model, IOTA will offer a sustainable token economy model with an annual inflation rate of 6% (767,000 IOTA per block). Accordingly, it is planned to produce 767,000 IOTA per epoch with an annual inflation rate of 6% on the network.
It was stated that in this new model where staking rewards will be offered, transaction fees will be kept low and the transaction fee is planned to be approximately 0.005 IOTA.
IOTA, which experienced a slight decline after the Binance announcement, continues to be traded at $0.31.
*This is not investment advice.
