> For the complete documentation index, see [llms.txt](https://docs.iotex.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.iotex.io/blockchain/participate/developer-grants/grant-verticals/defi.md).
# DeFi
Decentralized Finance (DeFi) has revolutionized the financial landscape by enabling open, transparent, and accessible financial services built on blockchain technology. At IoTeX, we recognize the immense potential of DeFi applications and invite developers of all skill levels to participate in our grant program to develop innovative DeFi projects. Whether you’re creating an original DeFi application or porting an existing one from a different ecosystem, we’re eager to support your journey in leveraging IoTeX and our layer-2 infrastructure, W3bstream, to build the future of decentralized finance.
Example 1 (Original Project)
### Decentralized Lending and Borrowing Platform
**Project Name:** LoanSphere
**Description**: LoanSphere aims to develop a decentralized lending and borrowing platform that offers secure, transparent, and efficient financial services to users, without the need for intermediaries. By leveraging IoTeX and W3bstream, LoanSphere will enable users to lend and borrow assets through smart contracts, creating a thriving ecosystem for DeFi services.
**Milestones**:
1. Develop a proof of concept for LoanSphere, showcasing the core functionality of the decentralized lending and borrowing platform on IoTeX Testnet. (10% of the funds)
2. Integrate LoanSphere with existing DeFi protocols or platforms to enable seamless asset transfers, liquidity provision, and yield farming opportunities. (20% of the funds)
3. Deploy LoanSphere on IoTeX Mainnet, allowing users to securely lend and borrow assets while benefiting from transparent and efficient financial services. (20% of the funds)
4. Achieve a specific user base or transaction volume within a designated timeframe, demonstrating the platform’s success and impact on the IoTeX DeFi ecosystem. (50% of the funds)
Example 2 (Porting of a Project)
### Decentralized Exchange Ported from Ethereum
**Project Name**: Uniswap
**Description**: Uniswap is a leading decentralized exchange (DEX) on the Ethereum network, enabling users to seamlessly trade tokens, provide liquidity, and earn rewards through its innovative automated market maker (AMM) model.
**Milestones**:
1. Deploy Uniswap contracts on IoTeX (33% of the funds)
2. Integrate IoTeX ecosystem tokens (33% of the funds)
3. Achieve 100M USD in TVL (34% of the funds)
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