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IOTA has recently rolled out two innovative initiatives aimed at boosting community engagement and driving further adoption of its decentralized finance (DeFi) ecosystem. The first, called Liquid Link, is a reward system designed to incentivize users to participate in various DeFi activities.
Liquid Link allows users to earn passive income by staking their IOTA tokens, which are converted into stIOTA. This new approach effectively enables the holder to maintain liquidity while still contributing to the network’s overall health and security. The initiative has already seen 870 unique crypto wallet addresses connect to the platform, with five decentralized apps (dApps) integrated thus far.
Moreover, Liquid Link incorporates a points-based reward system that encourages users to engage in DeFi protocols like Swirl. As participants interact with these platforms, they earn points which can be redeemed for rewards in the future, potentially including yield boosts and airdrops.
The IOTA Foundation has made it clear that its plans for the project include integration with PoolsFinance and Virtue_Money, among other collaborations.
On another front, the organization has launched an AI-driven video bounty competition, promising a prize pool of $1,500 to the best submissions. This endeavor targets content creators and community members who want to showcase their creativity through innovative storytelling using generative AI.
Source: www.crypto-news-flash.com
