IRISnet 3.0 Upgrade Preview: LSM Support and Token Enhancement

Anticipation is building as the scheduled mid-May release of the IRISnet 3.0 upgrade approaches. This upgrade brings a range of enhancements aimed at improving functionality, usability, and potential.

Supporting LSM

One notable addition is the Liquid Staking Module (LSM), which offers a secure and efficient mechanism to incentivize liquid staking on IRISnet. This feature promotes collaboration with prominent teams like Stride and Persistence and expands partnership opportunities within the ecosystem.

With the LSM feature enabled, users not only earn rewards for staking their assets but also enjoy increased flexibility in managing liquidity. This allows users to maintain liquidity while participating in staking activities, maximizing potential returns.

Binding Native Tokens to ERC20 Contracts

Additionally, IRISnet 3.0 introduces an exciting new feature that allows the community, through the governance process, to approve the deployment of ERC20 contracts that bind to their native counterparts. EVM users can then swap between these pairs of bound tokens at an exchange ratio of 1:1 with ease.

This enhancement breaks down barriers between native tokens and ERC20 tokens, creating a more conducive environment for application development that is poised to attract a wider audience and developer community.

In conclusion, the upcoming IRISnet 3.0 upgrade represents a significant milestone in its evolution by introducing groundbreaking features that empower the community and enhance usability. With support for LSM and streamlined ERC20 token binding and swaps, IRISnet continues to promote innovation and interoperability, offering developers more convenience that is essential to sustain the project’s continued growth.