IOST Woos EVM Developers with $100 Million Incentive Fund

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[April 12, 2022] – The IOST Foundation, together with top venture capital institutions and ecosystem partners, has announced a 100 million dollar exclusive incentive fund for EVM developers, aiming to incubate next-gen all-star projects and propel the growth of IOST’s multi-chain ecosystem.

On March 31, 2022, IOST unveiled the long-awaited Roadmap’s Secret Weapon — Project Entroverse to build a rapidly growing, interoperable, and interconnected blockchain network. 

The IOST Foundation funds the grant in conjunction with its top-tier investment institutions, partners, and nodes. The leading investor of the fund is Big Candle Capital.

The scope of this exclusive fund is not limited to applicants developing Dapps on the IOST chain exclusively; all outstanding projects deployed on other EVM-compatible chains with multi-chain development plans are also welcome to apply for support.

Details of the Entroverse Fund

The newly announced 100 Million Dollar Fund under Project Entroverse targets developers worldwide, consisting of the “New Ecosystem Fund” and the “Accelerator Fund”. 

  1. The New Ecosystem Fund will be used to expand IOST’s on-chain applications, mainnet infrastructure, and tools.
  2. The Accelerator Fund will provide capital, FA, and incentive bonuses to development teams and projects through IOST.

Items under the New Ecosystem Fund:

  1. Market Analysis: The successful project applicant will be offered market research and in-depth industry research reports developed by the Big Candle Capital (BCC) team who have more than 5 years of experience in blockchain research. 
  2. Token design: The project team will be assisted by BCC’s professionals who have rich experiences from top global investment banks in developing its economic model and assisting the incubation in the initial stages.
  3. Structure design: The project team will be provided with targeted successful case studies such as popular Dapps for reference.
  4. Promotion: The project team shall enjoy media support and promotion through BCC’s top-tier media connections and high-quality communities with a large number of users

Items under the Accelerator Fund:

  1. Non-dilutive funding: BCC will provide non-dilutive funding for teams building applications on the IOST chain, integrating the IOST mainnet, and with needs to implement the IOST tools.
  2. FA: BCC will offer FA support for skilled developer teams with no experience in the industry, allowing new projects to get start-up capital quickly.
  3. Incentive bonuses: BCC will arrange irregular bonuses to start-ups and teams based on their user base, activity, and TVL.

About Big Candle Capital

Headquartered in Singapore and located around big cities such as Barcelona, Tokyo, Seoul & Madrid, the Big Candle Capital team consists of more than 40 experienced professional investment professionals with first-class business capabilities and rich resources in the blockchain and traditional financial industries.

Investment philosophy

  • The investment scope of BCC’s exclusive fund is not limited to applicants developing exclusive Dapps on the IOST chain. Outstanding projects deployed on other EVM-compatible chains with multi-chain development plans are also welcome to apply for support.
  • The main focus of BCC investment is on DeFi, NFT, GameFi, Web 3, and Metaverse-based DApps. However, all innovative teams and ideas are welcome! 
  • BCC supports angel, seed, strategy, A round, B round, C round, and Pre-IPO investments, and both investments in token and equity simultaneously.
  • Investments range from $30,000 to $5,000,000.
  • BCC has a strong network and data analysis facilities centered in Asia. BCC examines projects and teams in detail based on this network and ecosystem to achieve the best ROI.
  • BCC makes diversified investments according to the assets’ life cycle and the development trends to minimize risks.

Advisory services

Big Candle Capital is familiar with blockchain technology and market structure. BCC provides auxiliary services such as capital, technology, token model, advertising, community building, and connections with exchanges for the invested projects.

Big Candle Capital sincerely invites all interested developers and teams to join the IOST multi-chain ecosystem. To contact us, please attach the below information and send us an email to [email protected]:

  • Project Description
  • Team introduction
  • Financing status
  • Whitepaper

IOST and Big Candle Capital to light up together

The top-tier talents from BCC will be facilitating IOST with technology, operations, investment management, research and analysts, secondary market operations, and more.

In addition, Big Candle Capital’s plan to expand its worldwide connections and business network including top exchanges, developers, wallets, and media shall add more valuable resources to IOST and its Dapps. 

Blake Jeong, IOST CMO highlights:

“The cooperation between IOST & BCC, and subsequently the launch of the IOST 100 million dollar fund for the EVM developers is a game-changer for the IOST Ecosystem. This incentive program offers long-term support for potential developers and projects, adding more killer Dapps on the IOST blockchain while strengthening our global infuencer and the value of IOST for its long-term hodlers.”

More announcements on IOST’s Project Entroverse will be announced in April. To keep yourself up to date, follow IOST on 

Telegram | Announcement | Twitter | Japan Twitter | Korea Twitter | CEO Twitter | Developer Community | Facebook | LinkedIn | Medium | Discord

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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