The IOTA Foundation unveiled its latest grant, allocating $2.89 million to 26 out of 99 applications, according to the IOTA Foundation blog. This funding round highlights the foundation’s commitment to fostering innovation across a variety of sectors, including: Decentralized Finance (DeFi), NFT Marketplace and SocialFi.
Grant recipients and their contributions
Among the major winners Iorend Stands out in the lending sector. ioLend is a pioneering DeFi platform focused on optimizing lending and liquidity. Users can maximize their returns through a variety of strategies, featuring yield-generating collateral and advanced risk management methodologies. The platform supports a variety of assets and integrates with the Liquidity Pool market to increase liquidity within the IOTA ecosystem and improve Total Value Locked.
Echo Forge Chronicles Funded in the NFT Marketplace category. This open source trade-and-earn marketplace leverages NFTs that are exchangeable with Eco-Bound Tokens (EBT) to enhance Web3 participation. It supports common NFT standards and allows NFTs to be exchanged for digital goods, providing a versatile and customizable marketplace template.
the opposite Another major beneficiary is SocialFi, which operates in the category. Protico is a DePIN-based social x data network that aims to drive social impact and profitability for both users and brands. It features “Web3 Lobby”, a universal community layer that allows brands to create native community spaces and connect with their Web3 identities in a decentralized way.
In the permanent category Pepi Finance We are developing a “degen-themed” SYMMIO integrated frontend for retail users. This new user interface aims to simplify the transaction process and improve user engagement by leveraging iGaming and online gaming design principles.
Thanks to TokenLabs.Tools A grant was also awarded in the tooling category. TokenLabs.network is a no-code Web3 platform designed to democratize the creation and management of ERC20 tokens. The platform provides a secure, transparent, and user-friendly ecosystem to create, manage, and audit tokens without requiring advanced technical knowledge.
Program Overview and Future Updates
IOTA Ecosystem The DLT Foundation’s grants program remains committed to fostering innovation across a variety of digital asset projects. In the future, the foundation plans to provide more frequent updates to keep the community informed and engaged.
As of June 26, 2024, the grant program has received a total of 102 applications, 25 grants have been awarded, and $2.744 million has been awarded to date. This latest funding round brings total awarded grants to $2.89 million.
For more information about the IOTA grant program and previous updates, visit the IOTA Foundation blog.
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