IOST Unveils 1 Million Dollar Grant to Bootstrap Growth of DeFi Projects, Focuses on Oracle DeFi

August 10th, 2020 at 9:00 am UTC · 5 min read

IOST Unveils 1 Million Dollar Grant to Bootstrap Growth of DeFi Projects, Focuses on Oracle DeFi

Photo: IOST 

IOST — an enterprise-grade, decentralized, and ultra-fast network oiled with the Proof-of Believability consensus algorithm is walking the talk less than a month after updating its roadmap for the rest of 2020 which focuses on DeFi. Gearing up to lead the blossoming DeFi space, the IOST foundation officially unveils a $USD 1M Grant to bootstrap the growth of DeFi projects on IOST according to the latest announcement on Medium.

What is IOST’s Noah Oracle Fund? Calling Promising DeFi Teams!

With DeFi higher up in its priority list, IOST launches Noah Oracle Fund- a 1 Million Dollar Special Fund dedicated to DeFi Projects incubation with the goals to:

  • Incubate outstanding and high-potential DeFi development teams around the world with comprehensive support in funding, operation, recruitment, business partners, as well as the technical support and resources
  • Foster the rapid growth of DeFi to drive more innovation, utility and adoption to IOST’s mainnet
  • Create values to DeFi and its users, and become a home of explosive, robust and leading DeFi dApps
  • Fast-track the 2020 deliverables on IOST’s H2 2020 Roadmap

All DeFi project teams developing on or migrating to the IOST mainnet will enjoy the IOST WorryFree Program with full development support in terms of funding, technology, and more. In addition to the IOST WorryFree Support Program, promising DeFi teams are welcome to apply for Noah Oracle Fund.

The following categories of DeFi project developers/development teams are welcome to join and/or migrate to the IOST mainnet:

  1. Oracle systems
  2. Decentralized exchanges
  3. Cross-chain transactions
  4. Lending
  5. Financial derivatives
  6. Stable coins

A comprehensive evaluation of all IOST Ecosystem DeFi projects shall be conducted on a quarterly basis for subsequent corresponding ratings and rewards issuance according to the projects’ category.

It is noteworthy that out of 6 categories, Oracle DeFi projects are the most important in this Noah Oracle Fund. As a bridge between the decentralized protocol and the external data of the blockchain, Oracle is an essential part of the DeFi ecosystem that keeps all the data to seamlessly operate.

How to Apply?

If you are a developer of a DeFi project or have excellent DeFi related resources, please contact us by email IOST Head of Overseas Marketing Stephanie.

DeFi Expansion & IOST’s Path to Lead the DeFi Space

According to the latest medium update on 7 August 2020, IOST unveils its DeFi Roadmap which started since early 2019 and lays out future plans in the rest of 2020.

As early as the beginning of 2019, IOST has laid out a holistic DeFi ecosystem and continued to make inroads in the budding DeFi space with multiple strategic partnerships and emerging on-chain projects from stable coins, decentralized exchanges, cross-chain transactions, lending, financial derivatives, forecasts, and more.

By inking symbiotic deals with strategic partners and promising on-chain projects such as PowerDeFi, otbTRADE, ProDeFi from all over the world, IOST will gradually cement its position, even supplement activities of competing platforms for the better good of the space.

By the end of September 2020, the IOST team aims to onboard at least three DeFi dApps on their high throughput network.

IOST- A Home to Build Your Idea DeFi dApps!

For DeFi dApps to satisfactorily compete with traditional applications, the underlying network must be fast, meeting the objectives and expectations of the dApp developers. In the mid of competition, IOST — an enterprise-grade, decentralized, and ultra-fast network oiled with the Proof-of Believability (PoB) consensus algorithm has what it takes to build a vibrant ecosystem by offering developer-friendly features and environments.

As one of the world’s leading public blockchain platform, IOST’s original PoB consensus mechanism can ensure better scalability and faster speed on the basis of decentralization. At present, IOST mainnet has shown a peak TPS of up to 8000. IOST offers developer-friendly features that improve product development efficiency. No congestion and no high gas fees as seen in Ethereum, the reason many developers choose to launch DeFi projects on IOST. A zero transaction fee also guarantees users the convenience and accessibility of using DeFi applications on the IOST chain.

With the establishment of the Noah Oracle One-Million Dollar Fund, IOST gears up to unlock the potentials of more DeFi projects on its vibrant network.

If you want DeFi, join IOST.

About IOST

Supported by Sequoia, Matrix, ZhenFund, and other world-class investors, IOST is an enterprise-level blockchain platform developed for online service providers and is now considered one of the Big Four public chains in the industry alongside Ethereum, EOS, and Tron.

The IOST project team is currently mainly composed of R&D personnel focusing on blockchain distributed technology. The team is formed by more than 50 blockchain industry experts who have graduated from world top universities such as Princeton, Stanford, MIT, Tsinghua University, and Beijing University, and have more than three years of blockchain-related research experience.

With a one-year-old mainnet, IOST has swiftly risen to become a world-leading public chain renowned for its numerous government collaborations and enterprise partnerships around the world. IOST is one of the Big Four public chains with a rich user base and real applicability alongside Ethereum, EOS, and TRON. 500,000 community members, over 20 countries worldwide, and over 400 nodes, top staking economy, and growing.

If you would like to hang out with the IOST community on chat, social media or to discuss product development, we have something for everyone: International English Telegram Group, IOST Announcement Channel, IOST Official Twitter, IOST CTO Terry Wang Twitter, IOST CEO Jimmy Zhong Twitter, Slack Developer CommunityUptrenndReddit, Facebook Page, Facebook Group.