The IOTA community has approved a significant liquidity bootstrapping program, allocating 172 million IOTA tokens to enhance the newly launched IOTA EVM ecosystem.
Points
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IOTA community approves a major liquidity bootstrapping program.
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172 million IOTA tokens allocated to enhance the IOTA EVM ecosystem.
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Strategic allocation aims to attract new participants and improve user experience.
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Transparency
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The IOTA Foundation has announced a significant milestone in the growth of its ecosystem. The community has approved a liquidity bootstrapping program aimed at accelerating the development of the IOTA EVM （Ethereum Virtual Machine）. This initiative will allocate 172 million IOTA tokens, valued at $27.4 million, to various decentralized applications （dApps） within the IOTA ecosystem.
IOTA EVM Unveils Liquidity Bootstrapping Program
The program aims to strategically distribute these tokens to enhance liquidity and provide an exceptional DeFi （Decentralized Finance） experience on the IOTA EVM platform. By increasing liquidity, the program intends to attract new participants to the IOTA ecosystem and improve the overall user experience.
https://twitter.com/iota/status/1818995102750056858
The IOTA EVM Growth Program consists of two members from the IOTA Ecosystem Department and two community members. Together, they will establish a Safe multi-signature wallet on the IOTA EVM to receive funds from the “unclaimed token pool.” This liquidity bootstrapping program will initially run for two years.
Ensuring Transparency
To ensure complete transparency, all actions of the Growth Program will be controlled by MultiSig holders who can withdraw funds from applications at any time. Unlike donations or sales, the program provides funds directly to the application’s smart contract, with Liquidity Provider tokens held securely in the MultiSig wallet.
In addition, all actions will be visible and trackable on-chain using the blockchain explorer. A dedicated bot will relay every action of the MultiSig wallet to the IOTA Discord, informing the community. Monthly reports will be published to summarize the program’s activities.
Conclusion
The approval of the liquidity bootstrapping program marks a major boost for the IOTA EVM ecosystem. By allocating significant resources to enhance liquidity, the IOTA Foundation aims to attract more participants and improve the DeFi experience. The program’s emphasis on transparency and community involvement will likely foster greater trust and engagement within the IOTA ecosystem.