IOVLabs VP Reveals Major Developments at 2023 Consensus Conference

During the 2023 Consensus Conference, IOVLabs VP Product Tim Paymans announced a series of major developments for the Rootstock Ecosystem and Rootstock Infrastructure Framework (RIF). Notably, through workshops and grants, IOVLabs aims to support Rootstock’s growth.

Tim Paymans presented these new developments during his talk at the 2023 Consensus Conference. These developments centered around the Rootstock ecosystem, the open-source RIF, and a grant program.

IOVLabs will host five free product development workshops for companies looking to use blockchain technology and the RIF protocols to develop and market fintech products. According to Paymans, IOVLabs will offer the Rootstock developers, product experts, funding, and marketing support to the partners chosen for the program.

Paymans also announced that the Roostock Infrastructure Framework (RIF) will have a new visual identity. This new design, according to Paymans, will more accurately convey the RIF’s goal of useful, affordable, and scalable fintech products and services on the blockchain.

Finally, Paymans announced that IOVLabs will launch a $2.5M Grant Program for startups and developers. Through this initiative, IOVLabs will distribute 100 grants in 2023 to support founders and entrepreneurs to build DeFi applications on top of Rootstock. IOVLabs will be launching the program in the coming weeks.

Pei Chen, VP of Growth at IOVLabs, spoke about the grant program and said that it demonstrated the company’s dedication to promoting the creation of a DeFi ecosystem through community effort.

Over 1 billion people lack access to financial services worldwide. RIF aims to change this by reducing the complexity of decentralized finance and making it accessible to all.

Enterprises, entrepreneurs, and developers can use the open-source RIF suite to develop new services or incorporate cryptocurrency into already-existing products. They can also fill out a form and submit it to the RIF to indicate their interest in collaborating.

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