DeFi.Org Unveils Participants Selected For DeFi Accelerator Program Led By Polygon And Orbs
Tel Aviv, Israel, 26th July, 2022, Chainwire
After announcing the launch of a special DeFi accelerator program in May, layer-2 scaling solution Polygon, in partnership with layer-3 blockchain infrastructure solution Orbs and community-led DeFi accelerator platform DeFi.org, has selected four program participants from a field of applicants.
The accelerator program is designed to support potential DeFi projects that utilize Polygon’s layer-2 capabilities alongside Orbs’ layer-3 infrastructure to unlock new opportunities and use-cases as the DeFi ecosystem prepares for the DeFi 2.0 revolution.
To that extent, the program received almost 100 entries, wherein each project was at different stages of development. Most of the projects demonstrated novel concepts and ideas, but a few showcased promising DeFi ingenuity, strong technical foundations, and well-knit teams.
Following intense rounds of reviews, live interviews, and due diligence processes, DeFi.org mentors have selected Ithil, Prophet, CURL, and reBaked for the first installment of its DeFi Accelerator program. The selected projects will receive several benefits, including access to funding opportunities, exposure to Polygon, Orbs, and DeFi.org communities, and mentorship.
Each of these projects endeavors to expand the capabilities of DeFi. To this extent, Ithil works to help investors establish exposure to a diverse range of strategies across protocols using their own or borrowed funds. The platform’s modular structure makes it an open-box financial solution for one-click access to different tailored investment products.
The next project, Prophet, aims to position itself as a marketplace for automated DeFi investment strategies. The platform works to lower DeFi’s entry barriers by granting users a one-click solution for investments across complex DeFi strategies. Through the Prophet platform, users can invest in pre-built strategies and also list their strategies to earn a commission from those investors who use them.
On the other hand, CURL is a concentrated synthetic liquidity protocol combining attributes of Curve and OlympusDAO via its dual-token model. The protocol seamlessly concentrates synthetic liquidity across several layer-2 networks while empowering liquidity providers to earn Curve-style rewards. The platform also facilitates the issuance of layer-2 synthetic assets for every layer-1 asset, helping overcome the problem of liquidity fragmentation while improving the user experience.
Finally, there’s the reBaked project developing an array of governance, management, and operational tools for DAOs and Web3 ecosystems for better and efficient distribution and management of their treasuries and value creation. Via the reBaked infrastructure, Web3 projects can achieve shared goals efficiently, including faster deliverables, stronger community bonds, better decentralization, and higher return on value for stakeholders.
The DeFi.org accelerator supports research, open-source software development, and community involvement via support for projects that build upon the pillars of community ownership, fair distribution, sustainable economics, a responsible approach to risk, innovation, and ecosystem compatibility.
Developed for Web3, Polygon’s blockchain development platform offers scalable, affordable, secure, and sustainable solutions for dApps operating in the Web3 arena. With its growing suite of products, developers can access major scaling solutions like L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid chains, stand-alone chains, and enterprise chains.
Orbs is a decentralized public blockchain infrastructure with Proof-of-Stake (PoS) consensus executed by permissionless validators. Orbs establishes a separate execution layer (L3) that enhances the capabilities of EVM smart contracts via its interoperability with EVM-compatible blockchains and decentralized network of nodes.
- Ran Hammer