IOTA Grants Program Update: Discover the Projects That Received Funding in May

The focus of the IOTA Foundation goes far beyond its native projects. In a display of its noble goal of catalyzing real reform in the realm of Web3, the decentralized non-profit organization supporting the IOTA token (MIOTA) launched the IOTA Grants program.

The IOTA Foundation, renowned for its dedication to advancing Web3 initiatives, recently announced the latest beneficiaries of its IOTA Grants Program. This initiative aims to培育 promising startups, particularly those poised to become Web3 unicorns, by providing them with the resources they need to thrive.

To date, the foundation has approved 20 out of 82 grant applications, releasing a total of $2,365,000 in funding for 20 eligible recipients. The program focuses on decentralized exchanges (DEX), GameFi (game finance), real-world asset (RWA) tokenization, and non-fungible token (NFT) marketplaces connected to the IOTA ecosystem.

IOTA Grants Infuses Resources to Foster Web3 Growth, Approves 20 Projects

The IOTA Foundation launched its Grants Program on March 12, quickly garnering 54 applications. The foundation initially selected eight recipients, injecting a total of $905,000 into their ventures. Some of the notable platforms to receive the first round of funding include:

MagicSea: One of the fastest-growing DEX and NFT platforms for IOTA and Shimmer-based projects, MagicSea is now positioning itself as a leader in its niche. It boasts its own tokens, LUM and Magic LUM, which unlock value for the network’s DEX and holders. With $2.07 million in total value locked (TVL), MagicSea is set for a more aggressive push in the market following its transformation from ShimmerSea. On June 15, the DEX will host the first fair launch within the new IOTA EVM, paving the way for AuditOne.

AuditOne ($AUDIT) will be one of the first token fair launches under the new @IOTA #EVM (#Ethereum Virtual Machine) ecosystem.

Interested parties should mark their calendars for June 15 to participate in this historic event within the #IOTA ecosystem.

AuditOne aims to democratize the auditing process for Web3 projects, especially startups. Its infrastructure, featuring a pool of auditors, a peer-review system, a bug bounty system, and an upcoming AI integration, offers an early detection mechanism for potential smart contract exploits.