Latest Developments in the IOTA Smart Contract Ecosystem
The IOTA network continues to evolve in the field of distributed ledger technology, achieving several significant breakthroughs, particularly in the area of smart contract capabilities. Through a series of upgrades, IOTA aims to provide developers, businesses, and governments with a secure, scalable, and verifiable platform for interaction.
- IOTA EVM Launch: In May 2024, IOTA EVM (Layer 2) was officially launched, achieving full compatibility with the Ethereum Virtual Machine (EVM).This means developers can use familiar tools such as HardHat and MetaMask to deploy and run smart contracts on the IOTA network, significantly lowering the barrier to entry. The Total Value Locked (TVL) on IOTA EVM reached $90 million at one point during 2024.
- MoveVM Integration and the Rebased Protocol: The IOTA Rebased (Layer 1) protocol was completed in late 2024 and went live on the mainnet between April and May 2025.This upgrade introduced MoveVM programming capabilities and transitioned to a delegated proof-of-stake (dPoS) validator model, significantly improving the network’s throughput and finalization time. The Rebased mainnet achieved a throughput of over 50,000 transactions per second, with finalization times in the sub-second range.
- Starfish Consensus Protocol: On April 23, 2026, the next-generation Starfish Consensus Protocol officially launched on the IOTA mainnet, further enhancing the network’s stability and uptime, and laying the foundation for higher-value applications.
- Omnichain Interoperability: On December 3, 2025, IOTA achieved omnichain integration through LayerZero and Stargate Finance, connecting it to over 150 blockchain networks and greatly expanding the interoperability of its ecosystem.
- Tokenization of Real-World Assets (RWAs): IOTA is actively focused on the tokenization of real-world assets and the digitization of global trade. For example, the ADAPT initiative, launched in Africa, aims to use IOTA technology to streamline trade processes across 55 African countries.
- Security Incident: On September 1, 2026, a MoveVM deployment on IOTA was compromised due to a suspected breach of the Switchboard oracle, resulting in disruptions and losses for some DeFi protocols and highlighting the ongoing risks facing the decentralized finance sector.
Market Performance of the PAX Gold (PAXG) Gold Token
PAX Gold (PAXG), launched by Paxos Trust Company in September 2019, is an ERC-20 token designed to bring the value of physical gold into the blockchain world.PAXG is pegged 1:1 to physical gold stored in LBMA-certified vaults in London, providing investors with digital ownership of gold.
- Regulation and Auditing: PAXG is fully regulated by the New York State Department of Financial Services (NYDFS) and undergoes monthly audits by an independent auditor (Withum, now KPMG) to ensure the transparency and authenticity of its gold reserves.
- Market Adoption and Market Capitalization: As of the time of publication on September 9, 2026, PAXG’s market capitalization was approximately $1.87 billion to $1.91 billion, with a 24-hour trading volume ranging from $105 million to $174 million.The number of addresses holding PAXG has increased approximately fourfold since 2020, exceeding 41,000 (as of October 2025), indicating sustained growth in market adoption. PAXG holds approximately a 50% share of the gold-backed token market.
- Price Performance: PAXG’s price is highly correlated with the spot price of gold. As of this writing, its price ranges from approximately $4,330 to $4,479.PAXG’s all-time high reached $5,619.09 (January 2026) or $5,204.64 (February 27, 2026).
- DeFi Application Expansion: PAXG’s applications in the decentralized finance (DeFi) sector continue to expand.For example, Arch Lending began accepting PAXG as collateral on September 1, 2026, and Kamino Finance launched an isolated lending market for PAXG on August 12, 2026, further enhancing its utility within the DeFi ecosystem.
- Trading Channels: PAXG can be traded on major cryptocurrency exchanges such as Binance, Kraken, MEXC, Bitget, LBank, KuCoin, and OKX. As an ERC-20 token, users can also trade it via Web3 wallets like MetaMask by connecting to decentralized exchanges (DEXs) that support the Ethereum network.
PAXG’s advantage lies in its combination of gold—a traditional safe-haven asset—with blockchain technology, offering unprecedented accessibility, liquidity, and divisibility while avoiding the storage and insurance costs associated with physical gold.Against the backdrop of a regulatory environment increasingly favorable toward asset-backed tokens, PAXG’s transparent gold reserves and regulated issuer structure place it in a favorable position in the market.
