- Binance and Bithumb break IOTA transactions while preparing the network for the rebassed Mainnet upgrade on May 5.
- IOTA is now also cooperating with Zodia Custody to support the issue of tokenized assets for institutional and decentralized goals.
Binance and Bithumb have confirmed their support from the IOTA, which comes on May 5. Both stock exchanges have exposed to deposits and withdrawals during the upgrade window. The customer is recommended to complete outstanding transactions in order to avoid the permanent loss of assets.
Thank you for supporting the #IOTA rebased protocol upgrade @BithumbOfficial
! https://t.co/YHDnZdlvUr
— IOTA (@iota) May 2, 2025
Bithumb announced that the services will pause on May 5 from 10:00 a.m. (KST) to enable precise measurement of the assets and the implementation of token swaps. Binance is IOTA deposits and withdrawals at 06:00 UTC exposean hour before the upgrade at 07:00 UTC. The crypto trade will be available during the changeover.
Minneet migration and Exchange campaigns
Sea The official announcement of Bithumb It is a migration to a new, largely decentralized network. Customers should not send tokens during the suspension of the company, since they would be irrevocably lost.
After the upgrade, the stock exchange will only support the new network. The time for the resumption of deposits will be announced.
Binance-US quit aside from that anthat the existing IOTA depot addresses on May 2 at 11:00 p.m. EDT will go out of operation. New addresses are issued after the upgrade. All deposits made after the cut -off date are permanently lost. As CNF reported, Binance will take on all technical tasks so that customers will experience a smooth change.
Binance will make the adjustments of the validator and the wallet. The stock exchange announced that the upgrade would not have any effect on current IOTA trades, while backend adjustments are made. As soon as the rebased network is stable, the normal deposits and withdrawals will be resumed.
IOTA Rebased and Wallet transition features
Rebased brings Iota to a new era with decentralized governance and better transactionability. The start with 13 Genesis Validators, including Nansen and other ecosystem partners, is the last coordinator Node. As reported in our previous article, the network will use a delegated proof-of-stake consensus.
The Firefly Wallet will be outdated. Users should migrate to the new Chrome-based IOTA wallet that supports the Rebased network. The current wallet only establishes a connection to the testnet; The full functionality for the Mainset will be available on May 5th. Ledger users have to install a new app version; Older Ledger devices like Nano S are no longer supported after the upgrade.
Staking will be available for the first time. Token owners can use a minimum of 2 million IOTA or delegate tokens to take part in the Validator selection. The number of validator places is limited to 150. This introduces a new economic orientation between users and the protocol.
According to our last post, the new MOVEVM Smart Contracts will operate directly on Layer-1 and support the MOVE language developed by Meta. This differs from the EVM model from Ethereum and brings cryptocurrency into harmony with other emerging blockchains such as aptos and SUI. The protocol will almost not enable any fees and tilt to prioritize transactions in demand tips.
Mysticent’s consensus mechanism aims at a final validity of less than one second and over 50,000 transactions per second under optimal conditions. The Validator nodes require a highly specialized infrastructure, 24-core CPU, 128 GB RAM and a 1 Gbit/S connection.
Migration instructions and security warnings
Before the upgrade, users should secure their wallets with the help of Stronghold files, mnemonics or exported keys. IOTA emphasized that migration will not be done automatically. According to the token community on X, some Wallet functions will be restricted by the start of the maxillary.
As we mentioned in our previous article, the move to Rebased is not a patch, but a complete architectural revision. Centralization will replace with complete decentralization, support Smart Contracts native and offer scalability with validator responsibility.
The upgrade will take place on May 5, all services should stabilize shortly afterwards. Users should track the official stock exchange and the tokens of the token for real-time updates. The price of the token is $ 0.211135, which corresponds to a decline of 0.13 % within 24 hours and a trading volume of $ 17.25 million within 24 hours. According to Crypto₿IRB, IOTA is a sliding 200-day average returnedand old coins gain dynamics.
As recently reported by CNF, IOTA has received a partnership with Zodia Custody to support the safe management of token and assets in institutional quality. This will enable the compliant issue of traditional financial instruments such as treasure letters in the IOTA network and is in line with the development of the protocol in the direction of decentralized infrastructure and institutional integration.
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