IOTA Grants April 2024 Update

TL;DR:
The IOTA Grants Program, kicked off on March 12th 2024, has supported a wide range of projects in its first two months, ranging from GameFi to decentralized exchanges. The updates will continue to provide insights into new developments and their impact on the ecosystem.

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Thank You for Your Enthusiasm: Temporary Pause on New Grant ApplicationsDue to the overwhelming interest and the incredible number of grant applications we’ve received, we are temporarily pausing new submissions. This pause will allow us to carefully review and prioritize the current applications, ensuring we select the most impactful projects. We appreciate your enthusiasm and support for the EVM, and we look forward to reopening the application process soon. Stay tuned for further updates!

The IOTA Ecosystem DLT Foundation's Grants Program, operational for nearly two months, marks a significant milestone in the DLT Foundation's efforts to support innovative builders and projects and to amplify the rapid growth of the IOTA ecosystem.

As the program progresses, we aim to provide monthly updates to share insights and developments. This commitment ensures our community and stakeholders are well-informed about developments in the Program.

Since its inception, the IOTA Grants Program has received numerous applications, many of which have exceeded our expectations in quality. We are excited to approve these outstanding projects, as they contribute to building the foundation of a highly competitive and innovative ecosystem, and are sharing their details here.

The purpose of this report is to transparently display the expenses of IOTA Grants and the ecosystem initiatives it supports. However, not every applicant wishes to disclose their project’s name or grant details. Therefore, this report only includes information about projects that have consented to publication.

The Grants Program in Numbers (as of May 1, 2024)Applications Received: 54Grants Awarded: 8Total Granted: $905,000

For detailed information on the Grants Program, this March 2024 blog post outlines the purpose, goals, and application guidelines for potential grant recipients.

Grant Recipients

Dark Mythos

Category: GameFi and NFTs

Dark Mythos (dark-mythos.com) is a crypto-based fantasy universe. It is designed as a digital trading card game (TCG) ecosystem that caters to players, collectors, traders, and fantasy enthusiasts. The platform aims to merge traditional TCGs with Web3 technology, offering a comprehensive dApp for trading cards and collectibles, thus bridging the gap between physical trading cards, Web2, and Web3. The goal is to provide an accessible and educational environment for newcomers and experienced users alike. Follow Dark Mythos on X at DarkMythosIOTA.

Figment

Category: NFT Marketplace

Figment is a NFT marketplace, aiming to serve as a blue-chip project with DeFi integration. It offers a comprehensive experience, with advanced features, incentives, and a curated launchpad for artists. Figment intends to offer incentives, such as airdrops and farming systems while providing utility to NFT holders through staking and secondary fee earnings. The marketplace is exclusive to the IOTA EVM and strives to create opportunities for the community.

IOTA Media

Category: Media

An independent media distribution brand focused on the IOTA ecosystem, IOTA Media aims to keep current IOTA users engaged while attracting new ones. The brand's portfolio includes a website, newsletter, X account, Discord server, Telegram channel, podcast, and YouTube channel, all working in tandem to deliver ecosystem-wide and protocol-specific content. This content includes news, insights, interviews, education, research, and entertainment, forming an integrated, top-of-the-funnel strategy.

Gamma

Category: Yield and Asset Management

Gamma Strategies (www.gamma.xyz) is a liquidity management and market-making service for decentralized exchanges. As a top leader by total value locked (TVL) among liquidity managers, it has actively managed concentrated liquidity since the concept was introduced by Uniswap v3 in 2021 and is a leader in volume as well as fees generated. Gamma offers a full suite of services, including active liquidity management, backtesting, and liquidity analysis. Its decision to expand to IOTA reflects a desire to attract builders, traders, and users to the network, fostering ecosystem growth. Follow Gamma on X at GammaStrategies.

UNCX

Category: DeFi Services Provider

UNCX Network (uncx.network) is a decentralized DeFi services provider, offering a range of services including liquidity pool locking, token vesting, token minting, Farming-as-a-Service, and a launchpad. Operating since 2020, it became a prominent player in the crypto space boasting over $600 million TVL across multiple chains such as Ethereum, Binance Smart Chain, Polygon, Avalanche, Base, and Arbitrum. Extending its services with IOTA EVM includes promising mutual benefits and further growth for both parties: follow UNCX updates on X at UNCX_token.

IOTA Heroes

Category: GameFi and NFTs

IOTA Heroes (www.iotaheroes.com) is a GameFi project where users can train and equip their characters to enhance performance on adventures. Successful encounters yield loot, including new game items and gold. The game also offers Player vs Player tournaments, with the potential to further extend this feature in the future. IOTA Heroes provides a lighthearted and engaging alternative to DEX forks and DeFi applications. The project seeks to migrate to IOTA EVM for new infrastructure options, extending the operability of the game through royalties on tokens and fees on adventures, to secure future development. Follow IOTA Heroes on X at IotaHeroes.

FOMOFox

Category: RWA Meme Coin

FOMOFox (https://fomofox.info) is a pioneering meme-coin that introduces a unique market-driven storytelling approach. Token holders can directly influence the narrative, blending the viral meme culture with the latest developments in the crypto space, particularly within the IOTA ecosystem. FOMOFox aims to provide unique entertainment, strong branding, and a thriving and active community. Follow FOMOFox on X at @FOMO_Fox.

TokenLabs.Network

Category: DeFi Services Provider

TokenLabs.Network is a utility-focused project that provides tools for IOTA community members to create tokens, finance themselves, and bring funds into the ecosystem. The project emphasizes utility over commercialization, with no sale of tokens or NFTs. To prevent network spam and support future tool development, each tool includes a small fee. TokenLabs aims to support the growth of the ecosystem by reducing the barrier of entry for new members. Follow TokenLabs on X at @TokenLabsX.

Join the IOTA Grants Program for Web3 Innovators

Our thanks to everyone who applied for an IOTA Grant, and warm congratulations to the successful projects; we know how challenging it can be to build, maintain, and grow a project in the Web3 space, and we're excited to see how these nine projects use their funds to achieve their next goals.

The IOTA Grants Program is actively funding projects and innovators; if you want to receive funding for your Web3 project, fill in the form on the IOTA Grants website and reach out to us on Discord with any questions!