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- IOTA’s Season 2 grant program aims to empower builders aligned with IOTA’s vision of sustainability and decentralization.
- Prospective applicants can submit proposals via the IOTA Grants website, with projects evaluated based on scalability, usefulness, safety, alignment with funding goals, and long-term viability.
The IOTA Ecosystem DLT Foundation unveiled its Season 2 grant program. The IOTA Grants Season 2 has committed to offering $10 million in funding and fostering innovation within the Web3 ecosystem. The initiative looking to empower Web3 builders and innovators focused on projects closely aligned with its vision of sustainability and thriving within a decentralized and free ecosystem.
IOTA Grants Season 2 Focus Areas & Funding Goals
It caters to three core areas, namely open-source development, education, and events, for supporting projects. These categories advance IOTA’s ecosystem by covering key aspects of Web3 growth.
For context, open-Source Development promotes the development of tools, utilities, and public goods that increase user experience. Moreover, the foundation has targeted education to reduce the complexity of multi-layered technology to reach everyday users. Meanwhile, events that promote community-driven activities like hackathons and workshops are prioritized.
“We’re here to support you on this journey,” the IOTA Foundation stated. They added:
Whether you’re accelerating adoption through real-world applications, planning to utilize our EVM framework, or shaping the future of the IOTA Rebased network, our grants are designed to foster innovation and creativity across the entire spectrum.
Currently, on of the key areas of focus has been the launch of the IOTA rebased protocol. The IOTA Rebased protocol is reportedly gearing up for its mainnet re-launch in early 2025, reported CNF. On the social media platform X, Michael Atlan emphasized that this re-launch positions IOTA for broader real-world adoption
Success Of Season 1 Grants
The end of Season 1 of the IOTA Grants program has been on an upbeat note since it attracted quality talent and great projects. Altogether, there were 144 applications, from which 32 were funded amounting to $3.47 million. The process had to be momentarily halted because it was overwhelmed with applications.
The Foundation has reflected on the previous season by highlighting productive outcomes. In a blog post, the team wrote,
The first season proved highly productive, bringing exceptional talent and innovation into the IOTA ecosystem.
Hence, applying for Season 2 is relatively simple. Anyone can submit a proposal by logging onto the IOTA Grants website along with guidelines on the funding. The applicants would be interviewed by the IOTA Grant Committee, which includes members of the IOTA Foundation.
Projects are rated along six criteria including alignment with funding goals, scalability, usefulness, safety, expertise of the grantee, and long-term viability. The Foundation went ahead to inform that its evaluation process is quite transparent, assuring that all funding goes only to projects whose potential to alter the ecosystem can be maximally realized.
IOTA Grants Season 2 builds on the momentum of its predecessor and is seeking even more innovative ideas. “Your ideas have the power to drive positive change in the ecosystem, and the IOTA Ecosystem DLT Foundation is here to support you,” the Foundation encouraged.
The IOTA Foundation added that it’s excited to work with developers and visionaries to build the future of Web3. Thus, prospective candidates can visit the IOTA Grants website for more information or to apply.
