The IOTA EVM is set for a massive boost in the coming weeks. The IOTA community has given a resounding endorsement to a liquidity bootstrapping program aimed at accelerating the growth of the IOTA EVM ecosystem. An overwhelming majority of token holders voted in favor of the proposal, which will see 172 million IOTA tokens allocated to various decentralized applications (dApps) to deepen liquidity and enhance the overall DeFi experience.
This significant investment, worth approximately $27.5 million at the time of writing, is seen as a pivotal step in fostering the development of IOTA EVM. By injecting substantial liquidity into the ecosystem, the initiative aims to attract new users, boost trading activity, and stabilize prices.
The liquidity bootstrapping program will be managed by a dedicated Growth Program team comprising members of the IOTA Ecosystem Department and the community. The team will strategically distribute the funds across a range of DeFi applications, prioritizing projects that demonstrate potential for significant growth and user impact.
To ensure transparency and accountability, all actions taken by the Growth Program will be publicly visible on the IOTA blockchain. Regular reports will be shared with the community to keep token holders informed about the program’s progress.
The decision to allocate the funds for a two-year period can be extended through a subsequent governance vote, allowing the community to maintain control over the initiative.
This development marks a significant milestone for the IOTA ecosystem, demonstrating the community’s strong commitment to the growth and success of IOTA EVM. By providing a substantial liquidity boost, the IOTA Foundation aims to position the platform as a leading player in the DeFi space.
About IOTA
IOTA is a distributed ledger technology designed for the Internet of Things (IoT). It offers feeless transactions, scalability, and data integrity, making it suitable for a wide range of applications, including supply chain management, energy, and mobility.
