IOTA Grants $2.89 Million to 26 Projects in Latest Funding Round

The
IOTA
Foundation
has
unveiled
its
latest
round
of
grants,
allocating
$2.89
million
to
26
out
of
99
applications,
according
to
the

IOTA
Foundation
Blog.
This
funding
round
underscores
the
foundation’s
commitment
to
fostering
innovation
across
various
sectors,
including





Decentralized
Finance
(DeFi),
NFT
marketplaces,
and
SocialFi.

Grant
Recipients
and
Their
Contributions

Among
the
notable
recipients,

ioLend
stands
out
in
the
lending
category.
ioLend
is
a
pioneering
DeFi
platform
that
focuses
on
optimizing
lending
and
liquidity.
It
enables
users
to
maximize
returns
through
various
strategies,
featuring
yield-bearing
collaterals
and
advanced
risk
management
methodologies.
The
platform
supports
diverse
assets
and
integrates
with
Liquidity
Pool
markets,
boosting
liquidity
and
enhancing
Total
Value
Locked
within
the
IOTA
ecosystem.

Eco
Forge
Chronicles
has
received
funding
in
the
NFT
marketplace
category.
This
open-source
trade-to-earn
marketplace
leverages
Eco-Bound
Tokens
(EBTs)
and
redeemable
NFTs
to
enhance
Web3
engagement.
It
supports
common
NFT
standards
and
allows
for
redeeming
NFTs
for
digital
goods,
providing
a
versatile
and
customizable
marketplace
template.

Protico
is
another
key
recipient,
operating
in
the
SocialFi
category.
Protico
is
a
DePIN-based
social
x
data
network
aimed
at
creating
social
impact
and
profitability
for
both
users
and
brands.
It
features
the “Web3
Lobby,”
a
universal
community
layer
that
enables
brands
to
create
native
community
spaces
and
connect
with
Web3
identities
in
a
decentralized
manner.

In
the
perpetuals
category,

Peppy
Finance
is
developing
a “degen-themed”
SYMMIO-integrated
frontend
tailored
to
retail
users.
This
new
user
interface
aims
to
simplify
the
trading
process
and
enhance
user
engagement
by
leveraging
iGaming
and
online
gaming
design
principles.

TokenLabs.Tools
Audit
has
also
been
awarded
a
grant
in
the
tooling
category.
TokenLabs.network
is
a
no-code
Web3
platform
designed
to
democratize
the
creation
and
management
of
ERC20
tokens.
The
platform
offers
a
secure,
transparent,
and
user-friendly
ecosystem
for
creating,
managing,
and
auditing
tokens
without
advanced
technical
knowledge.

Program
Overview
and
Future
Updates

The
IOTA
Ecosystem
DLT
Foundation’s
Grants
Program
continues
to
be
dedicated
to
fostering
innovation
across
various
digital
asset
projects.
Moving
forward,
the
foundation
plans
to
provide
more
frequent
updates
to
keep
the
community
informed
and
engaged.

The
Grants
Program
has
received
a
total
of
102
applications,
with
25
grants
awarded
and
$2.744
million
granted
so
far,
as
of
June
26,
2024.
This
latest
round
of
funding
brings
the
total
grants
awarded
to
$2.89
million.

For
more
information
on
the
IOTA
Grants
Program
and
previous
updates,
visit
the
IOTA
Foundation
Blog.

Image
source:
Shutterstock