The IOST Foundation, the organization behind the IOST blockchain, a gas-efficient proof-of-reliability-driven smart contract platform, today announced a new $ 100 million USD incentive for EVM developers, along with venture capital firms and ecosystem partners. Aiming to drive growth of multi-chain ecosystem and generate projects.
On March 31, 2022, IOST unveiled Project Entroverse, a roadmap aimed at building a growing, interdependent, and interconnected blockchain network.
This newly announced 100 million USD fund under Project Entrepreneurs targets developers around the world and consists of the “New Ecosystem Fund” and the “Accelerator Fund”.
- New ecosystem funds to expand IOST's on-chain applications, mainnet infrastructure, and tools.
- The Accelerator Fund will provide capital, FA, and bonuses to development teams and projects through IOST.
Big Candle Capital (BCC) fWell IOST and much more
The leading investor in the fund is Big Candle Capital. The scope of this exclusive funding is not limited to applicants developing dApps in the IOST chain; All outstanding projects in other EVM-compliant chains, including the Multi-Chain Development Plan, are also welcome to apply for support.
Big Candle Capital is a venture capital firm founded in 2017 by the IOST Foundation with a number of investment firms and ecosystem partner nodes. Big Candle Capital has invested in over 80 projects, including IOST, LINK, BNB, DOT, UNI, and DYDX, which have been extremely successful and have achieved an overall return of 1000% with a maximum managed asset value of over $ 700M.
BCC focuses on projects at various stages of development in the sector, including Defi, NFT, GameFi, Web3 and Metavers-based dApps. However, all teams and ideas are welcome. In addition, the BCC provides support services such as financing, technology, token models, advertising, community building, and connection to the exchange of invested projects.
Details of Introverse Fund
New Ecosystem Fund
- Market analysis: A successful project applicant will be given market research and in-depth industry research report prepared by Big Candle Capital (BCC) team who have more than 5 years experience in blockchain research.
- Token setup: The project team will be assisted by BCC professionals who have experience in creating token economic models and assisting in project incubation.
- Structure design: Successful case studies targeting project teams will be provided with popular dApps for reference.
- Promotion: Teams will receive media support and promotion through the BCC's media connectivity network and high-quality communities.
Accelerator Fund
- Non-delutive funding: BCC integrates IOST Mainnet to create applications in the IOST chain, and will provide non-deliverable funding for teams with the need to implement IOST tools.
- FA: The FA will provide assistance to skilled development teams with no experience in the BCC industry, allowing new projects to receive start-up capital quickly.
- Incentive bonus: BCC will provide random bonuses to start-ups and teams based on their user base, activity and TVL.
BCC's investment philosophy and services for developers
Investment philosophy
- BCC's exclusive funding is not limited to applicants developing exclusive dApps in the IOST chain. Outstanding projects in other EVM-compatible chains, including multi-chain development plans, are also welcome to apply for support.
- The main focus of BCC's investments is on DeFi, NFT, GameFi, Web3 and Metaverse-based dApps. However, all creative teams and ideas are welcome.
- BCC supports Angel, Seed, Strategy, A Round, B Round, C Round and pre-IPO investments and both token and equity investments simultaneously.
- Investments range from USD $ 30,000 to USD $ 5,000,000.
- To achieve optimal ROI, BCC Asia-centric scans projects and teams in detail using its powerful network and data analytics facilities.
- BCC invests diversified according to the life cycle of the asset and the tendency to reduce risk.
Advisory Services & Team
BCC provides support services such as connection with capital, technology, token models, advertising, community building and exchange of invested projects.
Headquartered in Singapore with offices in Barcelona, Tokyo, Seoul and Madrid, the Big Candle Capital team is made up of more than 40 experienced professional investment professionals with first-class business capabilities and rich resources in the blockchain and traditional financial industries.
Connecting to Big Candle Capital
BCC is now openly inviting all interested developers and teams to join the IOST multi-chain ecosystem.
To apply, the BCC team asks interested parties to attach the following information to an email at business@bigcandle.capital.
- Project Description
- Team contact
- The state of financing
- White paper
“The collaboration between IOST and BCC, and the subsequent launch of the IOST M 100M fund for EVM developers is a game-changer for the IOST ecosystem. This incentive program provides long-term support for potential developers and projects, adds more lethal dApp to the IOST blockchain, and strengthens our impact and IOST standards for its long-term hoodlers. “
– Blake Jiang, IOST CMO
