IOST Foundation, the team behind the IOST public chain, has taken another step to promote the Decentralized Finance (DeFi) sector shortly after releasing first updates for the IOST Partner Program during the first half of the year.
In a bid to achieve its goal to lead the way in the blockchain industry, IOST has officially rolled a $1 million grant dubbed “Noah Oracle Fund” to nurture and bolster the development of emerging DeFi projects on the IOST blockchain.
Per the announcement, the Fund’s objectives include fostering the development of DeFi to attract “more innovation, utility, and adoption to IOST’s mainnet.”
The Noah Oracle Fund will incurbate outstanding and promising DeFi teams in terms of funding, operation, recruitment, partnership, and technical support and resources.
While fast-tracking the deliverables this year on IOST’s H2 2020 Roadmap, the grant will also create values for DeFi and its users, making IOST a “home of explosive, robust and top-tier DeFi dApps.”
The IOST DeFi ecosystem hopes to unveil more partnership announcements shortly as multi-level elite teams troop to connect with the IOST. Moreso, all growing and existing project teams on the IOST mainnet are assured of enjoying the IOST WorryFree Program along with unfailing support in the area of Technology and capital.
In the meantime, all potential DeFi teams are encouraged to tender applications to obtain the Noah Oracle Fund to finance the growth of their DeFi projects on the IOST blockchain.
Projects that can apply, join or migrate to IOST cut across DeFi categories like lending, stablecoins, cross-chain transactions, oracle system, financial derivatives and decentralized exchanges (DEXes).