DeFi.org Announce Accelerator Program Members with Polygon and Orbs
- Web3 giants Polygon and Orbs join hands with DeFi.Org to unleash new opportunities in the DeFi ecosystem.
- Four winning DeFi projects will bring unique features and use-cases to evolving DeFi landscape using Polygon and Orbs infrastructure.
- The winning projects are — Ithil, Prophet, CURL, and reBaked.
Mutual collaboration between three Web3 giants has led to a unique accelerator program to find and promote new outstanding projects. Polygon, best known for its decentralized Ethereum scaling platform, has teamed up with the originator of the Layer-3 architecture, Orbs, and DeFi.org, the accelerator that helps founders and teams launch next-generation DeFi solutions.
The proposition for this brand new accelerator program is to nurture and support both technically and from a business perspective four different projects from a wide selection of participants.
The chosen participants base their projects on the Polygon chain, using Orbs architecture. This combination of Layer 2 and Layer 3 together creates projects that are capable of highly sophisticated activity and taking the term ‘smart contract’ to a whole new level and advancing the Web3 playing field one step further.
How Does the Accelerator Work?
The program received a total of 100 entrants, with a wide selection of solution types, and projects with varying levels of development. The selection process required participants to partake in various rounds of reviews, meetings, and due diligence processes, with the best of the products, eventually winning places in the accelerator program,
The winners of the first round included four very different projects — Ithil, Prophet, CURL, and reBaked, who will now be able to avail themselves of a variety of different benefits including the ability to take advantage of funding rounds, mentorship, and exposure to the communities at Polygon. Orbs and DeFi.org.
Each of these winners aims to expand their capabilities of DeFi. To elaborate, Ithil gives its users access to a tailored range of investment strategies across a plethora of protocols with either their holdings or loaned holdings using a one-click interface.
Furthermore, using their own or borrowed funds. Prophet, provides a marketplace for automated DeFi investment strategies, with a low minimum deposit required, or they can build their strategies and have others follow their strategies in return for a commission.
On the other hand, CURL merges the values of platforms like Curve and OlympusDAO on its synthetic liquidity protocol by way of a dual-token model. Users can take advantage of Layer-2 synthetic assets, through their Layer-1 asset holdings, thus overriding liquidity issues inherent in Layer-1 protocols.
Lastly, reBaked is the final project, which offers its users the values of governance, management, and operational tools for their DAOs and proprietary Web3 ecosystems. This serves to enhance value creation and treasury management for users.
Following the success of these product incubations, teams are encouraged to watch out for the next round of the accelerator program.