#iotex LFG!

According to Foresight News, IoTeX has released its 2.0 whitepaper, marking a significant strategic upgrade from a Layer 1 public blockchain to a 'DePIN Modular Open Ecosystem.' This upgrade introduces off-chain computation and verification, hardware identity recognition, and other functionalities as flexible modules and public infrastructure. These enhancements aim to facilitate lightweight DePIN construction, cross-ecosystem collaboration, and DePIN Layer 2 architecture, thereby supporting large-scale DePIN adoption with necessary infrastructure.

In terms of the economic system, IoTeX 2.0 enhances the utility of its tokens and introduces a deflationary mechanism similar to EIP-1559. Additionally, it employs reasonable inflation to incentivize ecosystem growth and maintain network stability through node maintenance. IoTeX indicates that with the MSP re-staking mechanism, the base APR within the ecosystem could reach 20%. With the launch of the 2.0 strategy, IoTeX plans to initiate large-scale ecosystem incentives and accelerate the ecosystem to encourage the participation of DePIN projects and users.