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- The Tangle Community Treasury has introduced “Mini-Grants” to support IOTA-related projects, focusing on networking, outreach, and participation in major crypto events like Token 2049.
- The Treasury has opened a call for proposals, inviting IOTA and Shimmer ecosystem projects to apply for funding.
In the latest development, the Tangle Community Treasury has launched an initiative to support the expansion of the IOTA ecosystem through its newly announced “Mini-Grants.” With these grants, Tangele aims to help IOTA-related projects by providing funding for networking and outreach activities while putting a special focus on attending major crypto events like Token 2049.
About Tangle IOTA Grants
The grants cover travel costs and attendance fees to boost human-to-human interaction, which the Treasury believes is important for the ecosystem’s growth. In a recent post on X, the Tangle Community Treasury emphasized the importance of face-to-face networking. Last month, it also implemented anti-fraud measures to protect Grant distribution, noted CNF.
“We believe that IOTA ecosystem growth is dependent on real people having real human-to-human contact,” the organization stated. This strategy encourages IOTA projects to reach out to the public with appearance at crypto events, thus, establishing valuable connections. The Treasury added, “Face-to-face interaction is where the magic happens.”
The grants are positioned as financial assistance for projects within the IOTA ecosystem to help with travel and event attendance costs. Although the funds provided through the Mini-Grants are relatively modest, they are intended to support startups and emerging projects.
The Tangle Treasury has made its funding opportunities more accessible by opening a call for proposals. This follows the announcement of its new funding strategy for 2024/25, which detailed specific guidelines for eligibility and types of projects that can receive support.
The Treasury Review Committee is now inviting individuals and project owners within the IOTA ecosystem to submit proposals. These proposals should outline how their projects benefit the crypto domain and IOTA ecosystem. Proposals should clearly define measurable goals and show how they work well with current projects in the IOTA or Shimmer ecosystems, per the CNF report.
However, the Treasury has clarified the limited funding of the Shimmer Treasury. Hence, projects specifically targeting the Shimmer ecosystem may only receive partial support. As of yet, the Tangle Treasury’s monthly budget, based on the current IOTA price, is approximately $65,000. Also, it’s important that note that these grants will be distributed in IOTA tokens or USDT, not fiat currencies.
Submission Process & Binance Blockchain Week
The submission process is straightforward:
- Applicants must download the proposal template from the Treasury’s website.
- Complete it with relevant project information and submit it online.
- Thereafter, the proposals will undergo a review process by the Grant Reviewer Committee, who assess the project’s current state, goals, and potential for success.
- A pitch meeting is then arranged for further discussions.
- If approved, a grant receiver contract will be signed and payments will be tied to the completion of specific targets.
In addition to Tangle’s support of IOTA projects, the ecosystem is also gaining visibility through various industry events. Dominik Schiener, chairman and founder of the IOTA Foundation, will speak at Binance Blockchain Week in Dubai on October 30-31, 2024.
In a social media post, the IOTA Foundation expressed its excitement about the event. It also encouraged attendees to visit their stand and explore how IOTA is driving advancements in Distributed Ledger Technology (DLT) and Real World Assets (RWA).
