Messari released the IoTeX Q4 2023 report: Gas fees surged over 3000%, governance node revenue increased by 62%
Messari released a report on IoTeX in the fourth quarter of 2023, with the following key points:
1. Surge in on-chain transaction demand: Gas fees skyrocketed to over 3,000%, exceeding $212,000. Quarterly on-chain transaction activity increased by over 1,800% compared to the previous quarter. The surge in on-chain transaction demand is driven by more than 230 decentralized applications (dApps) and off-chain computations on the IoTeX network. Additionally, several prominent projects like Depins significantly boosted transaction activity.
2. Significant growth in governance node rewards: Despite a 2% reduction in IOTX node rewards, due to the steady growth of IOTX-USD price, validation nodes achieved a 62% increase in rewards, totaling $1.3 million.
3. Enhanced network security: By the end of 2023, 100 active governance nodes staked 3.6 billion IOTX tokens with a record participation rate of 36.8%. As of January 2024, the staking ratio has exceeded 40%.
4. DePIN infrastructure W3bstream mainnet set to launch: W3bstream is compatible with various L1/L2 blockchain networks such as Solana, Polygon, Arbitrum, Conflux etc.
5. Marshall DAO introduced by DePIN's democratic incentive program brings a new governance model to support network liquidity and early-stage DePIN projects and ecosystem donations.
6.IoTeX collaborates with FutureMoney Group to launch the $5 million DePIN accelerator program called DePINSurf.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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