Web3 builder Nakama Labs is doubling down on its commitment to the IOTA ecosystem by expanding its development efforts to the IOTA EVM. The company believes that by leveraging the EVM’s compatibility with Ethereum’s vast developer ecosystem and IOTA’s unique features, it can unlock new frontiers in decentralized finance (DeFi) and beyond.
Nakama’s decision to build on IOTA EVM is underpinned by the recent integration of Stargate V2, a protocol that enhances interoperability between different blockchains. This development is expected to significantly boost the IOTA network’s capabilities in cross-chain asset transfers and liquidity management.
The company has outlined a two-phase strategy for its IOTA EVM endeavors. The initial phase will focus on constructing the core infrastructure necessary to attract developers and users to the platform. Nakama highlights IOTA EVM’s advanced features, such as horizontal scaling and MEV resistance, as key differentiators in the competitive landscape.
Real-World Assets to Power IOTA Ecosystem
In the second phase, Nakama plans to deploy decentralized applications (dApps) and actively engage with investors. A particular emphasis will be placed on integrating real-world assets (RWAs) into the IOTA EVM ecosystem, creating new opportunities for yield generation.
While IOTA EVM is still in its early stages, Nakama’s early involvement positions the company as a pioneer in the space. The venture builder’s previous experience with the IOTA and Shimmer networks provides a solid foundation for future development.
Also Read: IOTA and Eviden Set To Revolutionize Automotive Industry with Digital Passports
As the DeFi landscape continues to evolve, the integration of IOTA EVM and Stargate V2 has the potential to reshape the industry. Nakama’s commitment to building on this platform signals a bullish outlook for the future of IOTA and its ecosystem.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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