The IOTA Ecosystem DLT Foundation is stepping up its support for the future of digital assets with more frequent updates on its Grants Program. The latest round saw a significant funding boost, with $2.74 million distributed across 26 innovative projects. These projects span the hottest areas of DeFi (Decentralized Finance), NFTs (Non-Fungible Tokens), and SocialFi (Social Finance).
Fueling the Future of Finance
Several DeFi projects received grants, including ioLend, a platform designed to optimize lending and liquidity. ioLend aggregates yield opportunities across the network, allowing users to maximize returns through various strategies. Additionally, Protico, a DePIN-based social and data network, aims to bridge the gap between social impact and profitability for users and brands. Protico creates a “Web3 Lobby,” a decentralized space for brands to connect with Web3 communities.
- NFTs for Sustainability and Engagement
The grant program also recognized the potential of NFTs. Eco Forge Chronicles, an open-source trade-to-earn marketplace, uses Eco-Bound Tokens (EBTs) and redeemable NFTs to incentivize user engagement and promote eco-friendly practices within Web3 projects. Additionally, Peppy Finance is building a user-friendly frontend for SYMMIO, a perpetual exchange platform. Inspired by iGaming design, Peppy aims to simplify the trading experience and attract retail users to the DeFi space.
- Empowering Creators and Builders
Beyond DeFi and NFTs, the IOTA Grants Program empowers creators and builders. TokenLabs.Tools, a no-code Web3 platform, allows users to create and manage ERC20 tokens without needing extensive technical knowledge. This grant will ensure the platform adheres to the highest security standards.
IOTA 2.0: More Innovation on the Horizon
The IOTA Foundation’s commitment to innovation extends beyond the Grants Program. Reports also hints at a thrilling new project under development for IOTA 2.0. With the Grants Program providing a launchpad for promising projects and IOTA 2.0 fostering further innovation, the future of the IOTA ecosystem looks bright.
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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