The IOTA Ecosystem DLT Foundation has launched a grant program with a budget of $10 million to support developers and innovators in the Web3 ecosystem.
The program aims to empower projects that align with IOTA's vision of sustainability and decentralization. Developers are encouraged to submit proposals through the IOTA Grants website, and the evaluation process will consider criteria such as scalability, usefulness, safety, alignment with funding goals, and long-term viability.
The foundation has identified three core areas for funding: open-source development, education, and community-driven events. The first season of the grant program was successful, with 144 proposals submitted and 32 projects receiving funding totaling $3.47 million.
The foundation is committed to transparency in the evaluation process and applicants will undergo interviews with the IOTA Grant Committee.
The foundation is also focused on the upcoming re-launch of the IOTA Rebased protocol, which is expected to enhance IOTA's capabilities and drive real-world adoption. By aligning the grant program with the development of the Rebased protocol, the foundation aims to attract projects that can leverage this new technology.
The foundation also emphasizes community engagement and collaboration, as it believes these are vital components of success in the blockchain space. The grant program seeks to promote community-driven activities and create a vibrant community of developers and users.
The foundation's goal is to empower builders to drive positive change within the ecosystem by providing financial support and resources. The Season 2 grant program represents a significant step forward in fostering innovation and collaboration in the IOTA ecosystem.