IOST launches a $100 million fund for EVM developers

The fund is part of the previously announced Entroverse project to create an interoperable blockchain network

12.04.2022 - 12:55

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What’s new? The IOST platform has launched an exclusive $100 million fund for Ethereum Virtual Machine (EVM) developers. The funds for the new initiative will be raised with the help of major institutional partners. The lead investor will be Big Candle Capital (BCC). BCC will focus on supporting projects in the field of DeFi, NFT, GameFi, Web 3.0, and metaverses. This is reported on the IOST blog.

IOST’s blog

What will the funds be used for? The investments are divided into two separate grants: the “New Ecosystem Fund” and the “Accelerator Fund.” The “New Ecosystem Fund” will be used to expand IOST’s applications and mainnet infrastructure. The “Accelerator Fund” will provide capital and bonuses to development teams and projects through IOST.

What preceded it? On March 31, 2022, IOST introduced the Entroverse project to create an interoperable blockchain network. The EVM developer fund is part of this project.

What is known about IOST? It is a decentralized platform for smart contracts, launched in 2019. The CEO of IOST is Jimmy Zhong. The platform has the native token, IOStoken.

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