iOST RECAP AUGUST 2020

Chidi
IOST.AFRICA
Published in
4 min readSep 1, 2020

The IOST project is a decentralized blockchain network that is powered by the Proof of Believability consensus mechanism. A major benefit of this project is that it can achieve ultra-fast transaction speeds compared to existing projects. The month of August was a busy and exciting one for the team. They have made numerous investments and entered into partnerships that will help the IOST ecosystem grow. Here is a recap of the events that took place during the month.

Chinese Fruit Company to Use IOSTBlockchain in Tracking Products

On August 2, 2020, the IOST Foundation announced that it had signed a deal with Xuzhou Kiwi Orchard. It marks an exciting milestone for the use of blockchain within the agricultural industry. The deal will see Xuhzhou Kiwi Orchard use the blockchain to trace the origin of Xuxiang Kiwi. By using the blockchain, it will help the final users trace the origins of the agricultural produce they purchase.

Videos Introducing IOST Posted on Huobi Japan

On August 4, 2020, videos of the IOST project were posted on Huobi Japan. They were posted as part of the six projects supported by the HashPort Accelerator in Huobi Japan. Supporters of IOSTwere allowed to vote on the six projects of which IOST being one of the projects listed.

IOSTPartners with the PROXI One-Stop DeFi Platforms

As part of its DeFi expansion efforts, the IOST Foundation announced that it was partnering with the PROXI One-Stop DeFi platform. PROXIwas designed as a DeFi platform for cross-chain derivatives issuance and credit lending. IOST will join other blockchains such as Tezos, TRON, and Ethereum on the PROXI platform.

Citadel, the Non-Custodial Platform for IOST Holders Launched

On August 6, 2020, the IOST Foundation announced the launch of Citadel, a non-custodial proof of stake platform for the storage and management of crypto. Paradigm Fund, an IOST Partner Node, developed the platform. Citadel comes with numerous features that include a non-custodial wallet, hard wallet support, on-chain governance voting, instant swap, and many others.

IOST Block Height Surpasses 90 Million

On August 6, 2020, a tweet by Jimmy Zhong, the cofounder of IOST revealed that the IOST block height had smashed through the 90 million. The tweet also revealed that over 400 million transactions had taken place via the IOSTblockchain. Besides that, over 1000 tokens and 821 contracts had been created on IOST.

IOST Revealed 1 Million Dollar Grant to Help DeFi Projects Grow

ON August 10, IOST revealed a 1 million dollar grant fund called the Noah Oracle fund. The fund will be used to aid in the growth of upcoming DeFi projects on the IOSTblockchain. Besides providing funding, the IOST Foundation will offer technical support to these projects.

3rdIOSTNFT Event Launched

ON August 14, 2020, the IOST Foundation launched the 3rdNFT event, which is part of nine NFT events planned for 2020. The third event is called the iDeFi event and there will be 1000 iDeFi badged offered to 1000 IOST fans around the world.

IOST Wins Huobi Japan Voting Event

On August 18, 2020, IOST revealed that it had emerged the winner of the Huobi voting event. Voting took place from Thursday, July 16, 2020, at 15:00:00 to Sunday, August 16, 2020, at 23:59:59 and IOST emerged the winner with 424 votes or 45% of the total votes cast.

AllswapDeFi Portal to be launched on IOST Soon

Allswap is a public chain Swap product portal that was developed by Lichang, an IOST partner node. The portal is going to launch in Q3 2020. According to an IOST Foundation announcement, Lichang will also offer services such as decentralized transactions and liquidity pools for the IOSTDeFi ecosystem.

IOSTDeFi Incentive Program 2.0 Goes Live

On August 20, 2020, IOST revealed that it had launched a 6 million dollar fund called the DeFi Incentive Program 2.0. The fund is open to all talented developers and registration was open on August 26, 2020, with seven developer categories.

IOST Makes Investment in Ramp DeFi

On August 24, 2020, IOST revealed that it had invested in Ramp DeFi, which is a project focused on Total Value Unlocked (TVU) to create a thriving DeFi ecosystem.

IOSTPartners with Aegis DeFi to Boost Scalability and the Privacy of User Data

On August 25, 2020, the IOST Foundation announced that it would work with Aegis DeFi, a Singaporean company. As part of the partnership, the IOST Proof of Believability algorithm will be used to boost scalability and user data protection on the Aegis DeFi platform.

IOST Now Ranked Third in Global Blockchain Index

On August 26, 2020, a tweet by Terrence Wang, the co-founder of IOST revealed that theDeFi platform was now ranked third in the global blockchain Index. The new ranking places IOST in the third position, above TRON.

IOST Reveals a Generation Crypto a New Media Partner Node

ON August 28, 2020, the IOST Foundation revealed Generation Crypto had joined the IOST ecosystem as a partner node. The new partnership will help to grow awareness about IOST and the general crypto sector.

That was what happened in the month of August for the IOST project. There are even more exciting developments planned for September, which are designed to help grow the IOST ecosystem. We will keep you posted on these developments.

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Chidi
IOST.AFRICA

i am a Firm believer in blockchain technology and trust-less solutions. join the revolution and contact me for collaborative effort