IOTA Chooses New Leaders For $2.7 Million Grant Program: Is Your Project Next?

IOTA

IOTA

The IOTA ecosystem, known for its Tangle technology, recently concluded a governance vote to elect new leadership for the Tangle Community Treasury. This committee-based grant program plays a crucial role in supporting developers building on the Shimmer and IOTA networks.

The voting process, which ran from June 17th to July 2nd, allowed Shimmer token holders to cast their ballots through Firefly or Bloom wallets. This democratic approach aligns with IOTA‘s commitment to decentralized governance. The results were initially announced on July 2nd, with final confirmation coming after verification by Shimmer L1 nodes.

Linus Nauman emerged as the community’s choice for Program Lead of the Tangle Community Treasury. Nauman expressed his gratitude to the voters and vowed to manage the community funds responsibly, fostering further growth within the IOTA and Shimmer ecosystems.

The Tangle Community Treasury plays a vital role in stimulating innovation by reviewing and approving proposals from developers. As reported earlier, the program has already awarded $2.744 million in grants to 26 projects focusing on areas like DeFi, SocialFi, and NFTs.

Joining Nauman are four other individuals who garnered the most votes: Nicole O’Brien (CTO of Bloom Wallet), Richard Mediavilla, Yi-Wei Lin, and Phantom 3D. These four will form the Tangle Community Grant Committee for the Shimmer network.

Following this successful election, the Tangle Treasury DAO will convene to formally onboard the new leadership team. This process involves transitioning committee funds to secure multi-sig wallets controlled by the newly elected members.

The election of new leaders for the Tangle Community Treasury signifies the IOTA community’s commitment to fostering a vibrant ecosystem for developers. With fresh leadership at the helm, the program is well-positioned to continue supporting innovative projects that build upon the capabilities of Shimmer and IOTA.