IOV Labs unveils further developments for Rootstock ecosystem, to release a $2.5m grants program

At the recent Consensus event, IOV Labs unveiled a fresh visual identity and a series of major developments aimed at fostering the growth of the Rootstock Infrastructure Framework (RIF).

Unlocking innovation with RIF’s Workshop

One of the key developments was the introduction of five complimentary Product Development Workshops. These workshops are designed to assist businesses in leveraging blockchain technology and RIF protocols to create and launch innovative fintech products. 

Selected partners in the program will gain access to product experts, Rootstock developers, funding opportunities, and marketing support. By building with RIF, these startups and businesses can develop a simple, secure, and scalable decentralized finance (DeFi) product that caters to a wide range of users. 

RIF offers several compelling reasons for businesses to consider participating in both the co-creation and product development workshops. These include customization and local market expertise. The RIF team comprises experts who personalize the design and development process, ensuring that DeFi products meet the specific needs and objectives of each project. Collaboration with RIF provides valuable insights into emerging markets, this allows fintech businesses to develop products that address the specific needs of users in these regions.

It also provides speedy development and cost efficiency. Working with RIF streamlines the product development process, enabling fintech companies to bring their DeFi solutions to market sooner. RIF also offers technology and resources for DeFi product development, saving businesses from starting from scratch. This allows them to focus on their vision and invest time in other areas, leading to a more cost-effective process.

The RIF team possesses extensive experience in blockchain technology and is dedicated to solving real-world problems using effective blockchain solutions. Co-creating with RIF allows fintech companies to leverage this expertise, ensuring their DeFi products are innovative and practical.

Revitalizing RIF with a fresh visual identity

As part of the developments, IOV Labs introduced a new visual identity for RIF. This refreshed identity aligns with RIF’s purpose of accelerating the development of affordable, scalable, and useful fintech products and services on the blockchain. 

Tim Paymans, VP Product at IOV Labs, said:

 “Our vision at IOV Labs is a safe and equitable global financial system that enables everyone to participate and prosper. We believe the best way to make this vision a reality is by putting the tools, technology, and resources directly in the hands of the builders, founders, and financial organizations on the front line of the future of finance.”

IOV Labs will be launching a $2.5m grant program for startups and developers to build DeFi applications on the Rootstock sidechain. The grants aim to support founders and entrepreneurs who are prepared to leverage the open-source RIF platform, to co-create innovative fintech solutions and participate in the ongoing growth of the Rootstock ecosystem.