Research Summary
The report provides a comprehensive analysis of IoTeX’s performance in Q4 2023, highlighting significant growth in network transaction fees and staking participation. It also discusses the upcoming launch of W3bstream, IoTeX’s offchain compute infrastructure, and the introduction of The Marshall DAO to enhance incentive programs.
Key Takeaways
Impressive Growth in Network Transaction Fees
- Surge in Revenue: IoTeX’s network transaction fees saw a remarkable growth of over 3,000% QoQ to over $212,000 in Q4 2023. This surge in revenue is attributed to the increased transaction activity generated by inscriptions.
Staking Participation Reaches All-Time High
- Increased Participation: The average staking participation on the IoTeX Network reached an all-time high of 36.8% in Q4 2023, up 2.6% QoQ from 34.2% in Q3 2023. This indicates a growing interest and trust in the network’s operations and governance.
Launch of W3bstream
- Offchain Compute Infrastructure: IoTeX’s verifiable offchain compute infrastructure, W3bstream, is expected to launch on mainnet in 2024. This development is anticipated to enhance the network’s data streaming and processing capabilities.
Introduction of The Marshall DAO
- Enhancing Incentive Programs: The Marshall DAO was introduced with the aim to improve the effectiveness of incentive programs such as liquidity enhancement, supporting early-stage DePIN projects, grants for public goods, and donations to the ecosystem.
Validator Rewards
- Increased Rewards in USD Terms: Despite a 2% decrease in IOTX rewards to validators in Q4 2023, the rewards in USD terms grew 62% to $1.3 million due to the IOTX-USD price appreciation.
Actionable Insights
- Monitor the Launch of W3bstream: The upcoming launch of W3bstream, IoTeX’s offchain compute infrastructure, could significantly enhance the network’s capabilities. Stakeholders should closely monitor this development.
- Assess the Impact of The Marshall DAO: The introduction of The Marshall DAO is expected to improve the effectiveness of incentive programs. Its impact on the network’s performance and stakeholder engagement should be assessed.
- Understand the Implications of Increased Staking Participation: The rise in staking participation indicates growing trust in the network. Stakeholders should understand the implications of this trend for the network’s stability and growth.
