A recent comment by Dominik Schiener, co-founder of IOTA (MIOTA) generated a heated discussion on Twitter and a possible FUD. However, this has been put to bed by a clarification by Schiener. It all started when Schiener commented on a complete rebranding of IOTA.
Completely rebranding of IOTA is Shimmer – New token, new brand, new narratives, and new focus (DeFi). No need for us to do that with IOTA.
Interestingly, Schiener’s position was misinterpreted by some enthusiasts. One user questioned whether IOTA is going to be abandoned for Shimmer. In his response, the co-founder explained that the project is not abandoned, but can now focus on its original mission without diluting its brand. This was further explained by a Twitter user identified as Moon Baklava.
🚨*#IOTA IS CANCELLED*🚨— Moon Baklava (@moonbaklava) May 21, 2023
1.*Atleast some act like this is the case.
Don't get a heart attack yet 💔
I will revive you back to life my friend.
Dom's recent statement has made some head's going confusing 😵💫
Unraveling continues in this photo thread…🧵 pic.twitter.com/UWt4I0Zn3o
According to Baklava, Shimmer is meant to “go crazy in the crypto market” while IOTA focuses on its enterprise adoption.
In one of his comments, it was obvious Schiener is not comfortable with IOTA being used as a “meme-infested platform” which may end up damaging its reputation.