The Tangle Treasury Grant Committee has revealed its plans to reinvest digital assets, including IOTA, SMR, and USDT, into the IOTA EVM DeFi ecosystem. The compatibility of IOTA with Solidity smart contracts and its ability for parallel transaction processing have been instrumental in its rapid growth within the DeFi sector.
In a significant announcement, IOTA stated that the total value locked (TVL) on the IOTA EVM has surpassed $20 million. This achievement is the result of dedicated efforts to advance the digital ecosystem and establish a foundation for the future of Web3 solutions. This TVL growth signifies the progress that IOTA is making in shaping the decentralized technology of tomorrow.
The surge in TVL for IOTA EVM has been remarkable, with the total value locked increasing from around $5 million in early September to over $20 million in less than two months. This growth solidifies IOTA’s position as a preferred platform for DeFi applications and indicates its potential to become a significant player in the DeFi ecosystem.
One of the key factors driving IOTA’s success is its innovative and scalable architecture. Unlike traditional blockchain networks that process transactions sequentially, IOTA’s Layer 1 network enables parallel processing, allowing for simultaneous transactions. This horizontal scalability makes IOTA an ideal choice for DeFi applications that require a high-speed and efficient infrastructure to handle complex financial operations.
Furthermore, the introduction of the Ethereum Virtual Machine (EVM) for IOTA earlier this year has propelled the platform forward as a significant step in DeFi. The EVM ensures compatibility with Solidity smart contracts, enabling developers to easily migrate Ethereum-based contracts to IOTA’s network and facilitate the development of DeFi applications on the platform.
Last week, the Tangle Treasury Grant Committee announced its plans to reinvest digital assets into IOTA EVM DeFi protocols, focusing on liquidity pools and lending activities. The committee’s investment strategy excludes speculative trading, and the generated revenues will be used to fund grants, cover operational expenses, and strengthen the Tangle Treasury’s financial stability.
Tangle DAO LLC, the organization behind IOTA and Shimmer communities, aims to maximize the use of donated assets to enhance the IOTA/Shimmer ecosystems, improve the organization’s financial position, extend its operational timeline, and effectively manage risks.
The IOTA DeFi EVM ecosystem is experiencing strong growth, thanks to the IOTA EVM Liquidity Campaign, which is jumpstarting liquidity.
