TL;DR:
Revased Iota Mainnet is a special Genesis ceremony, launched by a set of highly trusted enablers. They ensure a safe and effective migration of all assets from the IOTA network and previous “Stardust” protocols to new, mobile-based protocols in a decentralized way.
The IOTA network has undergone several major changes throughout history as the protocol matures. With IOTA Rebased, the biggest and most complex technical upgrades and changes, I arrived at this point again.
Following the decision on the IOTA token holder, It's time to move IOTA into a fully decentralized, delegated stake network. This upgrade is known as Iota FoxesIt is scheduled for 05.05.2025.
A well-planned and structured process is required to ensure a perfect transition of all user funds, assets and data from the current IOTA Stardust network to the new IOTA Mainnet. Announcement blog post Provides details of the ceremony.
Genesis Validators
Our goal has always been for the IOTA network to work in a truly decentralized way. To achieve this, a group of 13 Genesis Validators gather to run a Genesis ceremony and create a new network. Ensures that a single entity is uncontrollable.
All Genesis Validators have the expertise, professional skills and performance features needed to launch new networks in a distributed manner. For the past five months, these entities have been working together to resolve technical issues and updates in preparation for launch. Their efforts and proven track record provide a reliable foundation for launching new networks.
The next 13 entities give birth to a revered Iota as validators for its Genesis.
- Iota Foundation: A German non-profit foundation that has taken the IOTA research and development since 2017.
- Iota Ecosystem DLT Foundation: Iota Ecosystem DLT Foundation It is the first DLT Foundation to be registered in the Abu Dhabi World Market in the United Arab Emirates.
- Ecosystems of Tangle: Another powerful ecosystem organization supporting IOTA; tea It was founded as the Swiss Association.
- DLT Green: Austria's first tokenized company that emerged from the IOTA community; DLT Green We are dedicated to developing, deploying and operating the latest service provider models. Especially because of the distributed IT infrastructure of the IOTA ecosystem.
- p2pFounded in 2018, p2p It provides unlawful staking infrastructure with betting assets of over $7 billion across 40 networks. Supports over 90,000 delegators and over 130 institutional clients
- Luga Node: Security and compliance prioritization; Luga Node It is one of the first staking providers to comply with SOC 2 Type II, GDPR and ISO 27001 standards, providing chain proof insurance to institutional clients. Over $2.5 billion in assets, immersed in over 45 networks
- Twin Stakes: With a unique heritage of deep expertise in the digital asset industry and a strong understanding of traditional finance, Twin Stakes Brings extensive experience and proven capabilities to the IOTA ecosystem.
- kiln: Managing more than $11 billion in stock across more than 50 stakes of stake networks; kiln It operates an impressive 5% share of Ethereum's staking power. Trusted by prominent industry names such as MetaMask, Trust Wallet, crypto.com, Fireblocks, and Bitpanda.
- Stakes: Web3 infrastructure and non-legal staking service providers within major facilities; Stakes Since 2018, we have operated highly available blockchain validator nodes (uptime of 99.9%) on over 40 networks. Today, there are over $3 billion in delegated assets.
- Nansen: The leading multi-chine analytics platform, Nansen Provides real-time on-chain intelligence for traders, investors and builders. With AI-powered tools and actionable insights, Nansen allows users to confidently navigate the crypto market, allowing chain discovery, due diligence, and defense of their crypto portfolio. Today, there are over $900 million AUMs, with over 25 major chains supported, and more are supported in the future.
- BlockScope: A total of over $250 million worth is locked, with 30 blockchain support and an increasing base of over 4,500 users. Block scope Suitable for providing a reliable staking experience. Bundled by a decade of hands-on experience in installation, deployment and maintenance of high-performance corporate services, Blockscope brings a lot of expertise to the table.
- coinage x daic: Collaboration with community and technology experts; coinage x daicIt forms one of the most reliable community validators in Web3. Provides high quality contributions to over 40 networks. Its goal is to provide early support and help the project build a genuine, enthusiastic community.
- Fenceab: The total value is locked, 90 networks are supported, and there is an impressive 99.99% uptime. Fen save We provide Iota Stakers with reliable and secure options. In addition to its extensive staking expertise, Staketab is recognized for contributing to the IOTA ecosystem, including the development of a new Iotascan Explorer.
Each of the 13 validators independently create and validate the Genesis state of the new IOTA mainnet. This state is a 1:1 transfer of the final ledger state from the previous IOTA Stardust network. The Genesis ceremony will thoroughly verify all addresses and balances to ensure that they are transferred correctly, and that all IOTA tokens have access to legitimate private keychains just like Stardust Network.
Why 13 Genesis Validators only?
One of the biggest obstacles we have identified to make the Genesis process successful is managing the communication complexity required to ensure that all Genesis Validators operate correctly and quickly. The engineering team needs to handle the problems quickly and add another layer of difficulty to the already sensitive process.
Through internal tests of Genesis rituals and “test executions” with Genesis validators, it has been revealed that increasing the number of validators in a set significantly increases the time required to complete the ceremony procedure, increasing the complexity of solving potential problems.
As there is no chance to run a “silent” launch of a new IOTA mainnet a few days before the upgrade, it is a common way to launch a completely new network these days, making it easier to ensure everything runs smoothly.
Boarding and Delegation Validators
Once the network is running and the final check is complete, it provides the infrastructure (API endpoints, wallets, and explorer) needed for users to interact. During the next epoch (approximately 24 hours), new validators can join the network based on IOTA stakers' decisions and delegations.
Validators who are qualified for delegation during the public testnet phase will gradually receive funds delegated from the Foundation's Ministry of Finance to ensure a safe and manageable bootstrap for the mainnet. The network expects to reach the current full committee size of 50 active valators within five epochs.
The ranking of validators for this 50-seat committee depends purely on the amount of delegations received from the IOTA token holders. The set of validators for the committee is determined for all new eras (24 hours) based on the amount of mandate achieved until the end of the previous era.
Conclusion
The rebase migration of IOTA is underway, and the birth of a new IOTA mainnet marks a pivotal moment for IOTA. As staged developments progress with the coming epoch, validators will gradually receive full delegations, increasing the stability and resilience of the network. When fully operational, IOTA MainNet unlocks new opportunities for users and developers while laying the foundation for distributed applications that thrive with IOTA Ecosystem.
