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:
- Oracle systems
- Decentralized exchanges
- Cross-chain transactions
- Lending
- Financial derivatives
- 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 at stephanie@iost.io
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.
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