Miami, USA, May 17th, 9 AM ET – IOVLabs, a starring planetary blockchain exertion company, is arrogant to denote the commencement of a strategical grants programme valued astatine $2.5 million. This programme aims to further beforehand the advancement and adoption of Rootstock, the world's pioneering Bitcoin sidechain that has go a thriving hub for decentralized concern (DeFi) activities connected the Bitcoin network.
Introducing the Grants Program and Hackathon
IOVLabs unveiled this breathtaking programme astatine the inaugural Bitcoin Builders Conference in Miami, an innovative lawsuit dedicated to Bitcoin Layer 1 and Layer 2 developers.
To place eligible candidates for the assistance program, IOVLabs has besides launched a Hackathon successful collaboration with HackerEarth, a planetary assemblage of implicit 4 cardinal developers.
The Hackathon volition instrumentality spot from May to July and volition dwell of an ideation stage, a improvement stage, and a last presumption to a sheet of esteemed judges from the Bitcoin and Rootstock ecosystems. Developers from each astir the satellite are invited to participate.
Building connected Rootstock's Advantages
Thanks to Rootstock's compatibility with the Ethereum Virtual Machine (EVM), developers tin physique decentralized applications (dApps) and integrations connected the web without anterior knowledge. They tin leverage acquainted solidity tools and libraries specified arsenic Hardhat, Truffle, web3.js, and ethers.js.
Participating successful the Hackathon not lone offers the accidental to suffice for the $2.5 cardinal assistance programme but besides presents the accidental to triumph prizes totaling implicit $25,000.
The Hackathon's judging sheet includes Sergio Lerner and Diego Gutiérrez Zaldívar, Co-founders of Rootstock, arsenic good arsenic representatives from Sovryn and Tropykus, cardinal players successful the Rootstock ecosystem.
Empowering Developers with Resources
Developers tin instrumentality vantage of the extended resources provided by Rootstock's DevPortal and integrate RIF's pre-built open-source protocols into their existing and aboriginal projects.
Expanding the Possibilities of Bitcoin
This inaugural by IOVLabs is portion of a broader effort to grow the possibilities of Bitcoin beyond being solely a store of worth and alteration the ecosystem into a afloat functional fiscal system. IOVLabs aims to execute this by supporting established fiscal institutions successful gathering and launching Web3 products, arsenic good arsenic assisting entrepreneurs and innovators done hackathons and grants.
Pei Chen, VP of Growth astatine IOVLabs, expressed his enthusiasm for the strategical grants program, stating, "IOVLabs' endorsement of the strategical grants programme reflects our beardown committedness to equipping developers with the indispensable tools to found a genuinely decentralized fiscal strategy connected the Bitcoin platform. This presents an accidental for the adjacent procreation of developers to utilize the Rootstock sidechain and grow the capabilities of Bitcoin, thereby creating a much liberated and equitable fiscal strategy for all."
Focusing connected Everyday DeFi
Furthermore, Chen highlighted the value of accessibility, stating, "Rootstock has rapidly gained designation arsenic the location of DeFi connected Bitcoin. However, we judge it is clip to marque it accessible to everyone, careless of their method expertise. Hence, this year's assistance programme focuses connected Everyday DeFi. This represents the way done which the archetypal cardinal users volition modulation to Web3, and unneurotic we tin marque it a reality."
Themes for the Hackathon
The Hackathon and grants programme encourages developers to research assorted concepts and projects that align with the taxable of "Everyday DeFi." These include:
Enhancing interoperability among antithetic blockchains built connected oregon with Bitcoin, specified arsenic dApps, bridges, and method implementations.
Developing user-centric inferior to foster effectual idiosyncratic engagement, including real-world usage cases, compelling DAO governance modules, and information dashboards.
Unlocking caller functionality and liquidity for DeFi done strategical integrations of marketplaces, dApps, decentralized exchanges (DEXes), aggregators, wallets, on/off ramps, and oracles.
Offering Hackathon Bounties for Rootstock infrastructure and tooling, focusing connected enhancing the foundational tools and resources for sustainable ecosystems, specified arsenic compiler support, bundle improvement kits (SDKs), libraries, node-as-a-service, merge mining, and rollups.
The Bitcoin Builders Conference
The Bitcoin Builders Conference, scheduled for May 17th successful Miami, volition supply developers and innovators with hands-on workshops, sheet discussions with engineering leaders, and insightful manufacture keynotes. The league volition besides showcase the latest improvement tools for Bitcoin.
Daniel Fogg, President of IOVLabs, expressed his excitement astir the conference, stating, "With the Bitcoin Builders Conference underway, I americium thrilled to witnesser however developers harness Bitcoin's imaginable to code mundane challenges faced by individuals worldwide. IOV Labs firmly believes that Bitcoin sidechains similar Rootstock volition play a pivotal relation successful onboarding the archetypal cardinal users to the realm of crypto. This league serves arsenic an accidental to observe our advancement frankincense acold portion acknowledging the enactment that lies ahead. Every web has its strengths, and Rootstock, revolves astir utilizing Bitcoin to make a much accessible and fairer fiscal strategy for everyone. By combining EVM compatibility with Bitcoin's unmatched security, Rootstock provides developers with a trusted web susceptible of supporting the fiscal futures of radical worldwide, careless of their economical status."
Advancing Bitcoin's Future
Both the grants programme and the Hackathon purpose to motivate developers to physique connected the Bitcoin level by leveraging the astute declaration capabilities of its Rootstock sidechain. This inaugural assists successful safeguarding Bitcoin's aboriginal by enhancing its semipermanent worth proposition and promoting the usage of sidechains for analyzable transactions, thereby addressing the ongoing congestion issues connected the superior network.
The $2.5 cardinal grants programme is afloat funded by IOV Labs, further contributing to the improvement of Rootstock, a decentralized blockchain protocol.
Rootstock's Growth and Impact
Rootstock's usage continues to grow, with implicit $400 cardinal successful Total Value Locked (TVL) and much than 60 protocols successful its ecosystem.
About IOVlabs
IOVlabs is actively processing the indispensable blockchain technologies for a caller planetary fiscal ecosystem that promotes opportunity, transparency, and trust. The enactment actively contributes to the improvement of the Rootstock blockchain and the Rootstock Infrastructure Framework (RIF).
About Rootstock
Rootstock stands arsenic the world's astir secure, permissionless, and censorship-resistant Bitcoin sidechain. It provides EVM-compatible astute declaration functionality utilizing Bitcoin arsenic its autochthonal asset. Rootstock transforms Bitcoin from a specified store of worth into the instauration of a broad decentralized fiscal system.
Rootstock's autochthonal token, RBTC, known arsenic "Smart Bitcoin," allows users to utilize their BTC for interacting with assorted services connected the Rootstock Bitcoin Layer 2. RBTC maintains an nonstop 1:1 peg with BTC. When users transportation Bitcoin into Rootstock, their Bitcoin is locked, and an equivalent magnitude of RBTC is released. For much information, delight sojourn the IOVlabs website.
Rootstock emerges arsenic the starring Bitcoin sidechain, boasting unparalleled security, a permissionless framework, and absorption to censorship. It goes beyond being a specified store of worth by incorporating EVM-compatible astute declaration capabilities, each portion leveraging Bitcoin arsenic its autochthonal asset.
At the halfway of Rootstock lies its autochthonal token, RBTC, often referred to arsenic "Smart Bitcoin." This innovative currency empowers users to seamlessly interact with a divers scope of services offered connected the Rootstock Bitcoin Layer 2. The singular facet of RBTC is its unwavering 1:1 peg with BTC, meaning that 1 RBTC holds the aforesaid worth arsenic 1 BTC. Whenever users transportation their Bitcoin into Rootstock, their funds go locked, portion an equivalent magnitude of RBTC is simultaneously released.
To facilitate astute declaration execution connected the network, RBTC serves arsenic the fuel, analogous to however ETH functions arsenic state connected the Ethereum platform. Unlike autochthonal tokens connected different blockchains, Rootstock ensures non-custodial control, safeguarding Bitcoin's absorption against censorship.
English (US) 