The IOST Foundation has announced a $100 million fund for EVM developers. The Exclusive Incentive Fund was created in collaboration with ecosystem partners and venture capital institutions.
The development’s goal is to gather next-generation projects and accelerate their growth in IOST’s multi-chain framework. The IOST Foundation released its long-awaited roadmap for Project Entroverse a few weeks ago. The project’s goal is to rapidly build an interconnected and interoperable blockchain network.
It aims to assist global developers through the Accelerator Fund and the New Ecosystem Fund. The former will allow FA, incentive, and capital bonuses to be used to develop projects and teams through IOST. The latter, on the other hand, will strengthen IOST’s mainnet framework, tools, and on-chain apps.
IOST funds its grants through top-tier nodes, partners, and institutions, with Big Candle Capital currently serving as the program’s lead investor. The latest fund will not only cover DeFi app development on IOST, but will also cover EVM-compatible chains with additional multi-chain development plans.
Big Candle Capital (BCC) intends to assist projects at various stages of development on NFT, DeFi, Web3, Metaverse-centric dApps, and DeFi. However, this does not preclude unique ideas and innovative team members from contributing.
The organisation also provides auxiliary solutions such as technology, funding, a token model, community building, connections, and advertising with project exchanges. Aside from that, the Entroverse Fund will focus on a number of key areas, in two broad categories: New Ecosystem Fund includes market analysis, token design, structure design, promotion. And second one Accelerator Fund includes non-dilutive funding, incentive bonuses.
Blake Jeong, CMO of IOST, also praised the recent development, stating that BCC and IOST will assist EVM developers worldwide. Furthermore, dApps on IOST will increase their global reach.
