The IOTA Ecosystem Development Fund was a community initiated and inspired effort. Separate and apart from the donations the IOTA community gave to endow the IOTA Foundation itself, some members in the IOTA community believed it would be important to establish a fund to support all the effort it takes to build a truly great Ecosystem. With donations from many community members over the course of a few months in early 2017, over 20 Tera IOTA was raised. Now these funds thus have incredible potential to empower the Ecosystem for years to come.
The purpose of the donations from the IOTA Ecosystem is to support projects in the IOTA Ecosystem. From proof-of-concepts, open-source utilities and libraries, educational resources, media, philanthropic endeavors, to hack-a-thons, ideation workshops, meetups and more, support will be given to any and all efforts which will benefit the broader IOTA Ecosystem and Community.
To demonstrate the incredible power of IOTA and the Tangle technology for self-governance, transparency and accountability, more and more of the IOTA Ecosystem platform and Ecosystem Development Fund will be integrated into the Tangle. The first of these features is a transparent Ecosystem Development Fund donation and grant tracking application which associates payments from the Fund to specific information related to the donation or grant.