The latest round of IOTA Grants has seen 26 out of 99 applications receive a total of $2,744,000 in funding. These projects cover various DeFi categories such as lending, NFT marketplaces, SocialFi, and tooling, according to a report by Crypto News Flash. The IOTA Ecosystem DLT Foundation’s Grants Program is dedicated to supporting innovation in the digital asset space and will now provide more frequent updates to keep the community informed.
Here are five projects that have been awarded funding through the IOTA Grants Program:
1. ioLend
ioLend is a groundbreaking DeFi platform focused on optimizing lending and liquidity. By aggregating yield opportunities across the network, ioLend allows users to maximize returns through various strategies. The platform supports a wide range of assets and integrates with Liquidity Pool markets to enhance Total Value Locked within the IOTA ecosystem.
2. Eco Forge Chronicles
Eco Forge Chronicles is an open-source trade-to-earn marketplace that uses Eco-Bound Tokens (EBTs) and redeemable NFTs to boost Web3 engagement. The platform promotes ecosystem sustainability and user engagement by enabling projects to offer rewards that bind users to their ecosystems without depleting resources.
3. Protico
Protico is a DePIN-based social x data network that aims to foster social impact and profitability for users and brands. It introduces the “Web3 Lobby,” a universal community layer enabling brands to create native community spaces and connect with Web3 identities in a decentralized manner.
4. Peppy
Peppy Finance is developing a “degen-themed” SYMMIO-integrated frontend tailored to retail users, offering a seamless and engaging experience by leveraging iGaming and online gaming design principles.
5. TokenLabs.Tools
TokenLabs.network is a no-code Web3 platform designed to democratize the creation and management of ERC20 tokens. It offers a secure, transparent, and user-friendly ecosystem for creating, managing, and auditing tokens without advanced technical knowledge.
The IOTA Foundation’s Grants program has been instrumental in supporting various projects in the cryptosphere, with the potential to make a significant impact in the future. As reported by Crypto News Flash, IOTA 2.0 has unveiled an exciting new project in development.
At the time of writing, the IOTA price is down 0.88% trading at $0.17. Over the past week, the cryptocurrency price has decreased by 4.32% amid broader market consolidation.
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