IOST Foundation this week announces the plan to release up to 1 million dollars in grant to developers to foster the development of Decentralized Finance (DeFi) Dapps and projects on IOST Blockchain.
After its new road map released for the second half of 2020 which focuses on the development of DeFi, the team has increased its effort to actualize its goals by providing funding for developers to build new DeFi related or migrate existing DeFi projects to IOST Blockchain.

The 1 million dollar special fund called Noah Oracle fund is dedicated to achieve the following goals:

  • 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 top-tier DeFi dApps
  • Fast-track the 2020 deliverables on IOST’s H2 2020 Roadmap

IOST is competing on the DeFi front with partnerships and development to foster quality DeFi products already implemented on IOST chain.

According to IOST Foundation, 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

Applications for the Noah Oracle Fund are open from the 10th of August, 2020 for developer of DeFi project or excellent DeFi related resources are to be submitted by email to the IOST Head of Overseas Marketing Stephanie at [email protected]

Full details of the grant can be found here