The IOTA Grants Program has recently allocated $2,744,000 to 26 projects out of 99 applications, focusing on advancing various DeFi initiatives such as lending, NFT marketplaces, SocialFi, and tooling. This funding marks a significant step in supporting innovation within the digital asset space under the IOTA Ecosystem DLT Foundation’s Grants Program. Moving forward, the Foundation plans to enhance community engagement by providing more frequent updates on grant allocations.
Here are highlights of five noteworthy projects that have received support:
1. **ioLend**: A pioneering DeFi platform, ioLend optimizes lending and liquidity by aggregating yield opportunities across its network. It offers yield-bearing collaterals, advanced risk management strategies, and integration with Liquidity Pool markets to bolster Total Value Locked in the IOTA ecosystem.
2. **Eco Forge Chronicles**: This open-source trade-to-earn marketplace utilizes Eco-Bound Tokens (EBTs) and redeemable NFTs to enhance Web3 engagement. It promotes ecosystem sustainability by enabling projects to reward users without depleting resources, supporting standard NFTs and digital goods redemption.
3. **Protico**: Based on DePIN, Protico operates a social x data network that facilitates social impact and profitability. Its “Web3 Lobby” creates decentralized community spaces for brands, utilizing GDPR-compliant decentralized data storage.
4. **Peppy**: Peppy Finance aims to create a retail-friendly frontend for SYMMIO, focusing on user experience inspired by iGaming principles. It aims to simplify trading, attract retail users, and enhance interaction with SYMMIO’s perpetual exchange infrastructure.
5. **TokenLabs.Tools**: TokenLabs.network is a no-code Web3 platform democratizing ERC20 token creation and management. It provides a secure, transparent ecosystem for users to create, manage, and audit tokens without technical expertise.
The IOTA Foundation’s Grants Program continues to support promising projects within the cryptosphere, with a new project under IOTA 2.0 development recently unveiled. As of the latest update, IOTA is trading at $0.17, down 0.88%, reflecting a 4.32% decrease over the past week amid market consolidation.
For more information and updates on IOTA and its initiatives, visit the official IOTA website.
