- Bitcoin is becoming a DeFi hub thanks to the Rootstock sidechain.
- To maintain momentum and further catalyze development on the Rootstock sidechain, IOVLabs has launched a grant program and a hackathon.
- The hackathon will help IOVlabs to find initial candidates for the grant program.
Bitcoin is rapidly transforming into a thriving hub for DeFi as protocols enable smart contract capabilities on the network. This is decadent in the $3 million in fees collected through DeFi protocols on Bitcoin in 24 hours, showcasing the increasing activity taking place on the network.
A key driving force behind Bitcoin’s journey to becoming a DeFi Hub is IOVLabs’ Rootstock sidechain. With millions of dollars in Total Value Locked (TVL), Rootstock has emerged as a major player in Bitcoin’s DeFi ecosystem.
Recognizing the importance of development and future-proofing the network, IOVLabs is launching a $2.5 million grant program to foster the creation of exciting solutions within the Rootstock ecosystem.
IOVLabs Grant Program
On Wednesday, May 17, at the inaugural Bitcoin Builders Conferences in Miami, IOVLabs revealed a $2.5 million strategic grants program and hackathon…
