Hello, IOST community! It’s time for our regular recap on the fresh ecosystem, development, and community news that happened over the past two weeks in IOST. So before going deep into details, let’s name some of them in brief!
The progress and outstanding contributions of IOST nodes were shared in the recent Nodes Showcase. There, the team also introduced some of the latest elected nodes which have joined the ecosystem to the community. Additionally, it stated that there are currently 457 IOST Candidate Nodes, 124 Elected Nodes, the Voting Volume is about 5.04 Billion IOST, and the Vote Ratio is 33.39%. The tech team was busy with the development of the IOST data analysis platform for internal statistical analysis of transaction volume/transaction value/active DAPP, fixes of some known issues, preparing to release a new version of the mainnet, and deployment of the block header incremental Merkle tree hash to adjust for light nodes.
As early as the beginning of 2019, IOST has started to lay out a holistic DeFi ecosystem and continued to make inroads in the budding DeFi space with multiple strategic partnerships and emerging on-chain projects from stable coins, decentralized exchanges, cross-chain transactions, lending, financial derivatives, forecasts, and more. It was clearly highlighted in the H2 Roadmap that IOST is making its goal in spearheading the DeFi space. A recently posted article gives a full picture of the IOST DeFi Ecosystem — don’t miss it out!
Thus far, following the roadmap goals, IOST continues to expand in the DeFi world! The delegated Byzantine-Fault-Tolerant (dBFT), decentralized, and blockchain agnostic platform, Bidao, now supports IOST as a collateral asset on its DeFi-dedicated ecosystem. Apart from that, PROXI — a DeFi 2.0 one-stop platform for cross-chain derivative issuance and credit lending is now forming a collaboration with IOST to bring real values and innovations into DeFi. What’s more, IOST unveiled a 1 million dollar grant to bootstrap growth of DeFi projects, focusing on oracle DeFi. The fund’s purposes are 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; and create values to DeFi and its users, and become a home of explosive, robust and top-tier DeFi dApps! The IOST community continues to grow — there is a stable increase in the number of subscribers on social networks and active participants in chats. That’s all for now — check the update below for more news and details!
Development
The IOST Nodes Showcase shares about the progress and outstanding contributions of IOST Nodes. They also introduce some of the latest elected nodes who have joined the IOST ecosystem to the community.
[Partner Nodes Summary]
As of August 8, 2020, at 18:00 (GMT +8)
- IOST Candidate Nodes: 457
- IOST Elected Nodes: 124
- Voting Volume: 5.04 ~ Billion IOST
- Vote Ratio: 33.39%
Read more on the recent progress of IOST-Tiger, Citadel.One, BTCManager, CryptoDiffer and a lot more!
A. Technical Ecosystem
[Development]
- Development of the IOST data analysis platform for internal statistical analysis of transaction volume/transaction value/active DAPP
- Fix some known issues and prepare to release a new version of the mainnet
- Development of the block header incremental Merkle tree hash to prepare for light nodes
[Operation and maintenance]
- Performed node’s technical communication for access and exit
B. Community Growth & Mainnet Statistics
As early as the beginning of 2019, IOST has started to lay out a holistic DeFi ecosystem and continued to make inroads in the budding DeFi space with multiple strategic partnerships and emerging on-chain projects from stable coins, decentralized exchanges, cross-chain transactions, lending, financial derivatives, forecasts, and more. As clearly highlighted in its H2 Roadmap, IOST is making its goal in spearheading the DeFi space. Here’s a full picture of the IOST DeFi Ecosystem.
Check the full article for more!
Social encounters
IOST Watch had a discussion with PowerMine co-founder (Safe) on all things DeFi, Powermine and its development on IOST.
Q: What should we be expecting from you this quarter?
A: Our plans for this quarter is to continue expanding our DeFi portfolio and our community as a whole, in July we launched the Perpetual Ecosystem, our biggest DeFi project up to date which is successfully running and its ecosystem balance has grown to 22 Million IOST in just the first month.
- APOPO & IOST dapp HeroRATS was featured the Telegraph Magazine
- Huobi Japan Voting
- IOST News Featured In Russian
Upcoming events
- Aug 14, 2020 — Aug 30, 2020 — IOST NFT 3rd Event- Get your “iDeFi” NFT Badge Now. Only 1000 iDeFi badges are available for 1000 IOST global fans. ACheck out how to collect your NFT badge for free with the instructions via the link above.
Finance
The delegated Byzantine-Fault-Tolerant (dBFT), decentralized, and blockchain agnostic platform, Bidao, now supports IOST as a collateral asset on its decentralized finance (DeFi)-dedicated ecosystem as per a Medium post shared on July 31. With this announcement, it means IOST coins can be locked up in Collateralized Debt Positions (CDPs) to generate the network’s stable coin, BAI. To use IOST as collateral, the coin is first locked up in a CDP. In return, an appropriate amount of BAI stablecoins is generated to be freely used by the CDP creator. BAI is one of the two tokens in the Bidao ecosystem. The governance token, BID, can be staked for yields as part of the network’s security protection mechanism. On the other hand, BAI is an algorithmic stablecoin backed 1:1 to the USD. To reverse the process and regain access to locked IOST coins, the CDP creator must repay the right amount of BAI to the ecosystem via a simple call function.
- Other updates:
Roadmap
According to the recent roadmap update:
For the second half of 2020, IOST will fully explore the DeFi ecosystem. At the same time, IOST will continue to work on the Nodes Program, DApp ecosystem, cross-chain technology, implementations, compliance development, cooperation with government & enterprises, community expansion, and work with industry practitioners to jointly promote the construction, development, and growth of the blockchain ecosystem.
Q3:
- Implement and optimize IOST on-chain governance mechanism
- Implement and apply IOST cross-chain technology
- Explore DeFi, complete and land at least three DeFi applications
- Launch top IP series dapps
- Optimize the ecological mechanism and layout of partner nodes
- Expand the Community plan V2, optimize the core community structure
Q4:
- Complete compliance process in Japan, South Korea, the US, Singapore, Vietnam and other countries
- Utilize zero-knowledge proof technology for user privacy improvement
- Expand cooperation in blockchain business between at least five top global enterprises
- Cooperate with traditional industries in NFT deployment
- Build a richer partner node ecosystem
- Build community KOL matrix in 20+ countries around the world
Partnerships and team members
Gearing up to lead the DeFi space, the IOST Foundation officially unveiled “Noah Oracle Fund”- a 1-million-dollar fund to incubate and foster the growth of emerging DeFi projects on the vibrant IOST blockchain ecosystem.
The goals are 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
Citadel.one is a non-custodial Proof-of-Stake platform for the management and storage of crypto assets, developed by IOST Partner Node — Paradigm Fund.
This new platform offers a variety of interesting and useful features for IOST holders including a non-custodial wallet with ease of creation and access, one-seed, staking and multi-node delegation, hard wallet support, automatic iGas and iRam control, instant swap, on-chain governance voting and more. Citadel can be the next game-changer in the IOST wallet portfolios with its unique, progressive, and useful features, and a strong team of IOST Partner Node Paradigm Fund behind this project. Crypto asset management platforms are a core part of every blockchain’s ecosystem. Great users’ experiences will retain existing community members and promise more users acquisition. IOST and its partners will continue to bring in more values to our users in this aspect of the ecosystem.
PowerDeFi is one of the first projects that come to IOST fans’ minds when speaking of DeFi on IOST. Developed by IOST Partner Node Powermine, the PowerDeFi platform not only has an extremely popular Uniswap exchange port but also includes a complete Perpetual ecosystem. According to DappRadar data, PowerDeFi’s 7-day trading volume has exceeded 10 million IOST quickly, reaching 14,718,559.324212 IOST as the time of writing. Undeniably, this progressive, robust, and fast-growing platform is building every block to prove itself a force to be reckoned with on IOST, and even beyond. PowerDeFi community members are falling in love with this project. “Biggest potential gains”, “massive earning potentials”, “best DeFi project” are some of the terms we often hear about Powermine and PowerDeFi. So what is it all about? and how can YOU- users leverage on this platform to earn massive passive returns?
Read an article on the PowerDeFi ecosystem and learn its details.
PROXI — a DeFi 2.0 one-stop platform for cross-chain derivative issuance and credit lending are forming a collaboration to bring real values and innovations into DeFi and IOST — the leading ultra-fast, decentralized blockchain network based on the next-generation consensus algorithm “Proof of Believability” (PoB). PROXI’s holistic approach to DeFi and cross-chain interoperability will open up more use cases and users base for IOST. As strategic partners, PROXI and IOST shall mutually leverage on each other with community growth, product development, technical support as well as marketing resources. The two parties aim to jointly create a decentralized world with a sustainable and profitable DeFi network.
Also read an official announcement by IOST — IOST Expands DeFi Network with Partnering PROXI One-Stop DeFi Platform.
IOST has inked a partnership with the Xuzhou Kiwi Orchard, to leverage the IOST blockchain technology for the full traceability of the planting, processing, transportation, and sale of Xuzhou Kiwi Orchard’s products. Xuzhou Kiwi Orchard mainly produces Xuxiang kiwi, covering an area of more than 1,000 acres, and has open business with many large supermarkets across China. The partnership between IOST and Xuzhou Kiwi Orchard adds another real-life use case of IOST blockchain technology to its rich application profile in multiple sectors and areas.
Other
Social media metrics
The graph above shows the dynamics of changes in the number of IOST Facebook likes, Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.
