When will the ERC-20 token be phased out? This was supposedly supposed to happen a couple years ago however there are no updates to the roadmap info or any docs that I can find. If there is info regarding this please point me in the right direction. Also without extracting the data from Etherscan and Iotexscan how can investors monitor the supply of Native vs ERC-20? How does having the Native and ERC-20 in circulation affect burn-drop? When new devices connect to the IOTEX network are ERC-20 tokens burned? Why does this ERC-20 token still exist? Coinbase claims it powers the IOTEX network. How exactly does it do that? The token does absolutely nothing. Why not ditch the dead weight and get all assets on the IOTEX network?
Coinbase only listed IOTX because they thought it was ERC-20 and easy for them to support, hopefully because IOTX is listed they will be forced to support native but their implementations of native are very slow and many projects never got listed as they no longer had ERC-20, dead projects on Ethereum were better off as a result l.
There is only 10% of the ERC-20 available of the 10 billion as the rest were burned during the Mainnet GA release which you can see on etherscan.
This is great info. Could you point me to the contract address that shows this 10% of the supply. I mean 10% of the total supply is still a bit considering 25% was sold in private auction and the IOTEX team holds an additional 15%. I’d just like to be able to see what kind of burn mechanics are in place for the remainder of the ERC-20. Based on the docs it shouldn’t even exist. I’m just unclear about why Coinbase listing the token being a roadblock to phasing out ERC-20. The offshoot has no utility and doesn’t support governance or POS protocol so why keep it around. Most Coinbase users have no idea there is a difference or that a Native token even exists.
Thanks again for your response.