LONDON (Bywire News) - The EOS Foundation has announced the second round of Recognition Grants and it’s the biggest yet. Eleven outstanding projects will receive a total of £1.1million.
Recognition grants are designed to celebrate those projects which are already having an impact on the EOS community and have remained loyal in tough times. The first wave of grants was announced earlier in the month with over a million dollars being granted to a variety of leading EOS projects, including Bywire.
The latest wave focuses on interoperability and decentralised finance and includes:
- PIZZA Finance: A decentralised financial network on EOS with a host of De-Fi related products including USDE stable coin, Swap Aggregator, DEX, leveraged tokens and their main decentralised lending product.
- DefiBox: A professional one-stop DeFI application platform on EOS with $120 million of TVL. It currently offers swap, USN stable coin generation, lending, borrowing and DAO governance.
- Vigor: A decentralised borrowing and lending platform built by the Vigor DAC.
- Equilibrium: One of the earliest DeFi products to use voter reward system, Equilibrium built the first dollar pegged currency which leverages the underlying EOS and bitcoin collateral.
- Defis network: An open-source series of DeFi protocols, AMM swaps, algorithmic stablecoin synthetics, cross chain pegs and mining pool.
- SOVDEX: An algorithmic DEX with trading, mining and CPU atomic swaps. The SOV team also developed the first variable rate self-deflationary token on EOS.
- eCurve: An exchange liquidity pool on EOS modelled after Curve on Ethereum. It is designed for efficient stablecoin trading and low risk supplemental fee income for liquidity providers.
- Newdex: One of the original and most popular DEX on EOS. It comes with a hybrid orderbook which aggregates limit order matching with AMM swap pools to maximise liquidity depth.
- DAPP Network: A universal bridging framework and suite of middleware services for scaling decentralised applications and facilitating interoperability between EOSIO and EVM-based blockchains.
- pNetwork: Created the pTokens which are 1:1 pegged to assets on more than ten blockchains including EOS. It enables assets such as pETH and pBTC to be transferred to EOS from their native chains where they can be used in De-Fi.
- Organix: Issues synthetic assets and trading protocol on EOS.
Each of these fine projects will receive $100,000 in EOS to help them grow and expand their operations.
Speaking about the award, Thomas Bertini, CEO of the pNetwork said: “We’re glad for pNetwork to be recognised as a positive contributor to the EOS ecosystem by the EOS Network Foundation. The Foundation serves a crucial role in empowering the EOS community and supporting its ecosystem growth.”
Gavin Caroll from SOVDEX said - "We know from firsthand experience that the EOS Network Foundation was formed and is being directed by some of the most intelligent, passionate, and talented members of the EOS community. Now that EOS has support from the EOS Network Foundation, EOS’s future really is brighter than ever. "
Decentralised finance has been key to EOS ever since its inception. It’s been there since 2018 when it launched its first decentralised exchanges and continued with the 2019 launch of its first collateral backed stablecoins and lending products. In 2020, DeFi attracted much wider attention, fuelled by growing distrust of the existing financial system. EOS continued to be at the vanguard of development with more automated market makers such as Defibox and Defis BNetwork, yield farming, exchange aggregators and bridging technology all appearing on the growing ecosystem.
Interestingly, and new movement with the hashtag #OccupyDeFi has been launched on Twitter, as reported by cryptobriefing.com, criticising what its participants see as increased centralisation in the DeFi space, which is gaining traction. Adopting the hashtag #OccupyDeFi, the movement is led by a few key players. It is unknown if this new movement is related to Occupy.Global, a rumoured re-launch of the Occupy Wall Street movement from a decade ago.
In a blog announcing the latest awardees, Yves La Rose, wrote: “This wave of recipients is the largest from the wave with 11 out of the 34 projects being part of this group. DeFi is one of blockchain’s most valuable use cases and supporting its EOS development is to be a top priority for the EOS Network Foundation.”
(Writing by Tom Cropper and editing by Michael O'Sullivan)