Bahamut Foundation Announces The Launch Of Three DeFi Projects And The Winners Of Bahamut Arena

Bahamut Foundation has announced the Grants program to support the growing ecosystem of Bahamut and foster the expansion of decentralized projects and applications. This initiative provides multi-faceted support for a wide range of projects based on categories mainly revolving but not limited to DeFi, gaming, and NFTs.

Bahamut Blockchain has already witnessed the successful results of the grants program with the latest launch of 3 DeFi projects - Lolik, Mutuari, and SilkSwap.

These platforms have successfully passed all the qualification stages and, after an extensive development process, are now live on the Bahamut blockchain. The appearance of new DeFi projects will surely increase the scalability and adaptability of the native coin of Bahamut, FTN, and expand its usability and relevance.

Mutuari is a lending protocol made for decentralized lending and borrowing of assets directly on Bahamut. Mutuari gives the users access to diverse crypto assets, including FTN, USTD, USDC, stFTN, and is accessible through all EVM-supporting non-custodial wallets, among them Fastex Wallet, Metamask, and WalletConnect. The project has been selected and successfully completed the task under the category of “Lending Protocol” with a prize of 60.000 FTN.

Lolik is the next project that has received a grant from Bahamut Foundation. It is a liquid staking platform that supports staking on leading blockchains such as Bahamut, with other blockchains, including Ethereum and Polygon, coming soon. With Lolik, each user can earn rewards by participating in the validation processes of the blockchain directly with their Web3 wallet.

\And the last one is the DeFi trading platform, SilkSwapthat allows users to enjoy peer-to-peer trading and easy and fast transactions. The application stays true to a pure Web3 concept, totally eliminating any third-party interactions.

The application process continues, accepting more and more applications. The step-by-step description of the application process and information on preferable categories and their funding are available on Bahamut.io/grants. The process is transparent and fair, keeping it real with web3.

Bahamut Foundation is currently announcing the list of approved applications that will start building their projects on Bahamut through the Bahamut Arena contest and wishes them the best of luck and successful completion of their projects.

Gotbit Labs

Category - DEX aggregator

Category Prize fund - 40,000 FTN

Delivery deadline - 2 months

Lost Lore

Category - NFT Marketplace

Category Prize fund - 40,000 FTN
Delivery deadline- 4 months

Blockstars (Greedy Lottery)

Category - Decentralized Game

Category Prize fund - 13,000 FTN

Delivery deadline - 1 month

Erinaceus RNG Oracle

Category - RNG Oracle

Category Prize fund - 50,000 FTN

Delivery deadline - 3 months

Erinaceus Price Feed Oracle

Category - Price Feed oracle

Category Prize fund - 50,000 FTN

Delivery deadline - 3 months

Additionally, the Bahamut Foundation is hosting a series of meetups at the__ftNFT Phygital Spaces__ located in Dubai, Venice, and Yerevan. These events are designed to promote community engagement by bringing together Web3  developers, newcomers, and enthusiasts. The meetups aim to foster growth and development within the global and local Web3 sector through knowledge exchange and collaboration.

Moreover,  a partnership with Yerevan State University has been announced to support blockchain education and community development in Armenia's growing Web3 industry. This collaboration--formalized through a memorandum of cooperation--represents a significant step towards integrating educational and research programs focused on blockchain and virtual assets, underscoring a shared commitment to promoting blockchain education and community development.

About Bahamut Foundation

The Switzerland-based Bahamut Foundation stays at the forefront of innovation, offering support and funding to the projects that foster advancements in the field, generate value for the blockchain ecosystem, and bring new users into the world of Web3, laying the foundations for future generations to learn and build upon.