- IOTA has announced significant growth within its ecosystem, marked by the launch of MagicSeaDEX, the first decentralized exchange on the IOTA EVM.
- These initiatives focus on decentralizing traditional finance and engaging the community in the evolving meme coin sector, contributing to the overall expansion and innovation within the IOTA network.
In the latest development, IOTA announced the growth witnessed by its ecosystem which hosts a diverse range of emerging products that promote the expansion of the IOTA EVM while offering solutions for the community and the wider crypto space.
As part of this major growth, MagicSeaDEX, the first decentralized exchange (DEX) deployed on IOTA EVM, has been celebrating its launch through a large-scale campaign involving the entire IOTA community, per the CNF report.
Additionally, IOTA has also supported projects like ApeBond, which focuses on decentralizing traditional finance via sustainable financial options within the crypto industry. Through a community-driven decentralized autonomous organization (DAO), ApeBond actively spreads the benefits of decentralized finance (DeFi) to the global economy. by using the robuts infrastructure of IOTA EVM, ApeBond helps projects to manage their resources more effectively while maintaining financial stability and enabling innovation at the same time, reported Crypto News Flash.
On the other hand, as the meme coin sector gains major traction, FOMO Fox, the first meme coin on the IOTA EVM, is inviting community members to participate in token-swapping activities, thereby contributing to the evolving narrative of meme coins. Meme coins can subtantially improve the growth trajectory of IOTA, as we saw how the meme projects helped the Solana ecosystem to thrive this year in 2024. Solana-based memecoins like Dogwifhat and BONK have given multi-fold returns to investors in a very short time period.
The Expanding IOTA EVM Ecosystem
The IOTA EVM ecosystem continues to host a diverse range of projects, per the CNF report. One such project is ACCU DeFi by Nakama Labs that provides a smart solution for the community in ordert to optimize their investment choices. This decentralized application (dApp) automates the collection, exchange, and reinvestment of rewards, while helping users maximize their yileds while reducing costs.
On the other hand, the IOTA EVM turns out to be a top destination for communities focused on growth related to “farming” with GigachadFish providing a platform for enthusiasts to start with GIGA and IOTA tokens.
While attaining growth on one end by hosting diverse range of projects, the IOTA EVM ensures that it doesn’t compromise on security. Security remains a top priority in the rapidly developing IOTA space. AuditOne DAO empowers the ecosystem by welcoming auditors to conduct regular checks and inviting the community to report bugs, thereby rewarding those who contribute to maintaining security.
As per the latest CNF report, in order to push the growth further, IOTA EVM has announced a significant liquidity bootstrapping program with the plan of distributing 172 million IOTA tokens amond several decentralized application (dApps). The goal with this is to provide the initial thrust to increase the overall DeFi activity within the ecosystem.
The IOTA cryptocurrency is currently trading 2.28% up at $0.1365 with a market cap of $461 million.
