IOTA is a distributed ledger for the Internet of Things. The first ledger with microtransactions without fees as well as secure data transfer. Quantum proof. IOTA is a ground breaking new open-source distributed ledger that does not use a blockchain. Its innovative new quantum-proof protocol, known as the Tangle, gives rise to unique new features like zero fees, infinite scalability, fast transactions, secure data transfer and many others. IOTA is initially focused on serving as the backbone of the Internet-of-Things (IoT).
IOTA is one of the few networks without inflation. Therefore, when someone stakes (M)IOTA tokens, the staking rewards are not paid out in newly minted (M)IOTA tokens - they airdrop the tokens launched on the IOTA network. A current example of this process is the Shimmer Network. In this case, (M)IOTA token holders can stake their (M)IOTA tokens to receive Assembly/Shimmer tokens as rewards.
Pre-staking has started. The pre-staking phase is a seven-day period before staking rewards begin on the 28th of December at 3 PM CET.