IOST Unveils 1 Million Dollar Grant to Bootstrap Growth of DeFi Projects, Focuses on Oracle DeFi

Published in
5 min readAug 10, 2020


IOST is walking the talk less than a month after updating the roadmap for the rest of 2020 which focuses on DeFi. Gearing up to lead the DeFi space, the IOST Foundation is thrilled to officially unveil “Noah Oracle Fund”- a 1-million-dollar fund to incubate and foster the growth of emerging DeFi projects on the vibrant IOST blockchain ecosystem.

What is Noah Oracle Fund? Calling Promising DeFi Teams!

With DeFi higher up in its roadmap priority list, IOST launches Noah Oracle Fund- a 1 Million Dollar Special Fund from the IOST Foundation dedicated to DeFi Projects incubation with the goals to:

  • Incubate outstanding and high-potential DeFi development teams around the world with comprehensive support in funding, operation, recruitment, business partners, as well as the technical support and resources
  • Foster the rapid growth of DeFi to drive more innovation, utility and adoption to IOST’s mainnet
  • Create values to DeFi and its users, and become a home of explosive, robust and top-tier DeFi dApps
  • Fast-track the 2020 deliverables on IOST’s H2 2020 Roadmap

All DeFi project teams developing on or migrating to the IOST mainnet will enjoy the IOST WorryFree Program with full development support in terms of funding, technology, and more. In addition to the IOST WorryFree Support Program, promising DeFi teams are welcome to apply for Noah Oracle Fund.

With multiple top-tier teams that have already joined the IOST DeFi ecosystem, more announcements and partnerships will be revealed in the upcoming period!

The following categories of DeFi project developers/development teams are welcome to join and/or migrate to the IOST mainnet:

  1. Oracle systems
  2. Decentralized exchanges
  3. Cross-chain transactions
  4. Lending
  5. Financial derivatives
  6. Stable coins

A comprehensive evaluation of all IOST Ecosystem DeFi projects shall be conducted on a quarterly basis for subsequent corresponding ratings and rewards issuance according to the projects’ category.

It is noteworthy that out of 6 categories, Oracle DeFi projects are the most important in this Noah Oracle Fund. As a bridge between the decentralized protocol and the external data of the blockchain, Oracle is an essential part of the DeFi ecosystem that keeps all the data to seamlessly operate.

Reward distribution time:

  • Within 20 working days after the last day of each quarter.


  • The IOST technical team will evaluate the development/migration quotation, covering the development/migration cost.
  • The candidate teams can only obtain development funding for one time and will receive it after the project goes online.

How to Apply?

Applications are open from the 10th of August, 2020. If you are a developer of a DeFi project or have excellent DeFi related resources, please contact us by email IOST Head of Overseas Marketing Stephanie at

IOST- A Home to Build Your Ideal DeFi dApps!

Decentralized finance, or in short DeFi, is a notion that the traditional financial system can be replicated on a decentralized, open-source, resilient environment, seamlessly operating without a middle man. Compared with other projects, DeFi has a lower threshold, relatively transparent investment environment, and considerable interest rates, which drive its rising popularity in the crypto market.

For DeFi dApps to satisfactorily compete with traditional applications, the underlying network must be fast, meeting the objectives and expectations of the dApp developers. In the mid of competition, IOST — an enterprise-grade, decentralized, and ultra-fast network oiled with the Proof-of Believability (PoB) consensus algorithm has what it takes to build a vibrant ecosystem by offering developer-friendly features and environments.

As one of the world’s leading public blockchain platform, IOST’s original PoB consensus mechanism can ensure better scalability and faster speed on the basis of decentralization. At present, IOST mainnet has shown a peak TPS of up to 8000. IOST offers developer-friendly features that improve product development efficiency. No congestion and no high gas fees as seen in Ethereum, the reason many developers choose to launch DeFi projects on IOST. A zero transaction fee also guarantees users the convenience and accessibility of using DeFi applications on the IOST chain.

By inking symbiotic deals with strategic partners and promising on-chain projects such as PowerDeFi, otbTRADE, ProDeFi from all over the world, IOST will gradually cement its position, even supplement activities of competing platforms for the better good of the space.

With the establishment of the Noah Oracle One-Million Dollar Fund, IOST gears up to unlock the potentials of more DeFi projects on its vibrant network.

If you want DeFi, join IOST.

About IOST

Supported by Sequoia, Matrix, ZhenFund, and other world-class investors, IOST is an enterprise-level blockchain platform developed for online service providers and is now considered one of the Big Four public chains in the industry alongside Ethereum, EOS, and Tron.

The IOST project team is currently mainly composed of R&D personnel focusing on blockchain distributed technology. The team is formed by more than 50 blockchain industry experts who have graduated from world top universities such as Princeton, Stanford, MIT, Tsinghua University, and Beijing University, and have more than three years of blockchain-related research experience.

With a one-year-old mainnet, IOST has swiftly risen to become a world-leading public chain renowned for its numerous government collaborations and enterprise partnerships around the world. IOST is one of the Big Four public chains with a rich user base and real applicability alongside Ethereum, EOS, and TRON. 500,000 community members, over 20 countries worldwide, and over 400 nodes, top staking economy, and growing.

If you would like to hang out with the IOST community on chat, social media or to discuss product development, we have something for everyone:




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Senior Community manager, editor, and translator at IOST.