The Power of IOTA EVM: Building a Strong DeFi Hub

Being one of the pioneering networks, IOTA is now unlocking its true potential with the introduction of IOTA EVM. This groundbreaking development is set to foster a growing DeFi ecosystem. The integration of Stargate V2 promises to revolutionize cross-chain transactions, liquidity management, and operational efficiency, paving the way for unprecedented advancements. At Nakama, we are thrilled to launch our dApps on this network, driven by the boundless possibilities these innovations present.

Phase 1: Building the Core Infrastructure

The introduction of IOTA EVM is a landmark achievement for the IOTA network. This fully EVM-compatible Layer 2 solution brings a range of new features to IOTA, including smart contract functionality, cross-chain interoperability, parallel processing, and advanced security measures against Maximal Extractable Value (MEV) attacks.

Since the initial release of IOTA Smart Contracts on the Shimmer staging network in September 2023, the IOTA EVM protocol has undergone rigorous testing, extensive improvements, and comprehensive audits. The outcome is a robust, battle-tested solution that is primed to serve as the foundation for a significant DeFi ecosystem.

A robust and functional infrastructure is essential for a flourishing ecosystem, providing the necessary groundwork for growth and innovation. To attract new teams building on IOTA EVM and encourage new users to join, ensuring core infrastructure is in place is a critical requirement. Currently, all the vital components are converging to create a strong foundation for future expansion.

Key Features of IOTA EVM

IOTA EVM introduces several advanced features designed to enhance the smart contract environment and foster a more equitable and accessible ecosystem:

Parallel processing: IOTA’s L1 protocol architecture supports parallel transaction processing, enabling horizontal scalability and deployment across multiple chains. This decouples traditional chain anchoring, significantly boosting processing capabilities.

Seamless interoperability: The effortless deployment of Solidity smart contracts facilitates fluid interactions across both EVM and non-EVM chains, enhancing cross-chain functionality.

Fairness and security: By implementing native randomness and MEV resistance, IOTA EVM prevents front-running and value extraction through unpredictable transaction ordering. This aligns with regulatory demands for market integrity and equal access.

Phase 2: Deploying DeFi dApps and Engaging Investors

The next phase involves deploying additional robust DeFi dApps and creating an attractive environment for Web3 investors. This phase will also focus on integrating real-world assets (RWAs) into the IOTA EVM ecosystem, allowing these assets to be used as collateral within various dApps to generate additional yield opportunities.

Having successfully launched some of our dApps on Shimmer EVM and recently Accumulator on IOTA EVM, we’ve gained invaluable experience that will enhance our journey as we prepare to roll out the rest of our dApps on IOTA EVM. Moving forward, we are closely monitoring on-chain liquidity to launch Deepr Finance and thus ensure stability and efficiency for all users.

To ensure IOTA EVM’s success and to attract new users, offering a compelling DeFi ecosystem with lucrative yield opportunities is essential. At Nakama, we are committed to supporting this development and are excited to release our dApps on this network. We look forward to launching into one of the most vibrant communities in Web3.

Conclusion

The launch of IOTA EVM and its integration with Stargate V2 marks a pivotal moment in the evolution of the network. These advancements not only enhance the technical capabilities of the IOTA protocol but also expand its reach and utility in the broader Web3 ecosystem.

Right now, all efforts go into building the core DeFi infrastructure, while phase 2 will deploy strong DeFi dApps to attract users and investors. The roadmap of Nakama is packed with various exciting releases and surprises. We anticipate sharing more details with you soon. Stay tuned!

Follow us on X or visit nakama.io to learn more.