this project token based on Iota or what
Seems like an independent project
Yeah looks like they are just building on top of the platform.
Yes - we're building on top of any protocol that might better enhance our entire platform. IOTA is just one of many.
Are they any specifics that the protocol needs to have for the platform to function properly?
So long as the currency problems are addressed, transactional throughput that can accurately and efficiently handle IoT devices, and robustness -