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IOTA’s Tangle Community Treasury: Q3 Operations and Tier II Proposals

IOTA’s Tangle Community Treasury Provides Q3 Update; Polkadot Plans Significant Deployment

The world of blockchain technology is never static as companies and project teams continuously find innovative ways to improve their ecosystems. Among them, IOTA’s Tangle Community Treasury and Polkadot have recently provided some exciting updates.

IOTA’s Tangle Community Treasury Q3 Operations

IOTA’s Tangle Community Treasury has shared its strategic operations for the third quarter of the year with a focus on the funding of Tier II proposals. Remarkably, out of the total treasury of around $824,043 USDT, there exists an approximate of $99,126 USDT dedicated to covering running costs. According to the report, outstanding payouts for approved grants amount to $322,855. Thus far, a total of $517,017 in grants has been approved, with a payout of $194,162 made, leaving $100,000 USDT available for grant funding this quarter. The team has decided to concentrate on two to four solid Tier II proposals for the rest of the quarter, with Tier 1 proposals put on hold for the time being. Furthermore, Fluent DAO recently had its grant approved, promising a native stable token to the Shimmer network. The utilization of native tokens is part of the continuous innovations that empower blockchain ecosystems and offers users increased flexibility. At the time of the report, the Shimmer token (SMR) was trading at $0.04304, and IOTA was at $0.148291, with a 24-hour trading volume of $4,759,109 and a market cap of $407,214,316.

Polkadot’s Significant Token Deployment

Polkadot isn’t staying behind in advancements either. Its native token, Dot, was trading at $3.76, having dropped by 6% over the last seven days. Yet, the project’s development agency, the Web3 Foundation, plans to deploy a considerable amount of $22.08 million and 5 million DOT tokens throughout 2024. The foundation aims to use these funds to fuel advancements and growth within the Polkadot ecosystem. Such a significant deployment can bring novel possibilities and functionalities to the Polkadot network. Although Polkadot witnessed a 1.21 percent decrease in the last 24 hours, it still boasts of a market capitalization of $4,641,612,415 and a 24-hour trading volume of $72,496,649. On top of this, Polkadot has forged partnerships with Moonbeam and Hydra DX, setting the stage for groundbreaking cross-chain integration.

Conclusion

In summary, IOTA’s Tangle Community Treasury is concentrating on Tier II proposals, ensuring the efficient allocation of its treasury. Likewise, Polkadot is planning a significant token deployment to amplify its ecosystem, emphasizing the dynamic nature of the world of cryptos. For the keen investors and aficionados, these updates offer crucial insights into the dedication of these project teams in enhancing their respective platforms. Well-thought investments in such commitment may yield good dividends in the future. However, like any other investment prospects, it is vital to conduct due diligence and thoroughly understand what these platforms have to offer before making any decisions. Understanding the operations of crypto projects is crucial for financial success in the expanding world of digital currencies.
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