IOST Announces $100M Fund to Boost EVM Multi-Chain Ecosystem

The IOST Foundation has announced a 100 million dollar fund for EVM developers. The venture joined with ecosystem partners and venture capital institutions to create the Exclusive Incentive Fund.

The objective behind the development is to gather next-gen projects and boost their growth in IOST’s multi-chain framework. A couple of weeks back, the IOST Foundation released its much-awaited roadmap for Project Entroverse. The project is designed to quickly grow an interconnected and interoperable blockchain network.

It targets global developers, helping them with the Accelerator Fund and the New Ecosystem Fund. The former will enable FA, incentive, and capital bonuses to develop projects and teams via IOST. On the other hand, the latter will boost IOST’s mainnet framework, tools, and on-chain apps.

IOST funds its grant with top-class nodes, partners, and institutions, and Big Candle Capital is currently the leading investor in the funding program. The latest fund is not merely restricted to building DeFi apps on IOST; it will also cover EVM-compatible chains with additional multi-chain development plans.

BCC (Big Candle Capital) plans on helping projects at multiple development stages on NFT, DeFi, Web3, Metaverse-centric dApps, and DeFi. However, that does not restrict unique ideas and innovative team members from sharing their inputs.

The organization also offers auxiliary solutions, like technology, funding, token model, community building, connections, and advertising with exchanges for the projects. Other than this, the Entroverse Fund will target multiple keys areas, namely:

New Ecosystem Fund

• Market Analysis
• Token Design
• Structure Design
• Promotion 

Accelerator Fund

• Non-dilutive funding
• FA
• Incentive bonuses

IOST’s CMO, Blake Jeong, also praised the recent development, stating how BCC and IOST will help EVM developers from across the globe. In addition, dApps on IOST will also strengthen their worldwide influence.