- Summary:
- DeFi.org, Polygon and Orbs have announced the final four participants in the DeFi Accelerator Program. We tell you what made them stand out.
Polygon, in collaboration with DeFi.org and Orbs, a layer-3 blockchain infrastructure solution, has chosen four program participants from a pool of applicants to participate in the DeFi accelerator program. DeFi.org mentors have chosen Ithil, Prophet, CURL, and reBaked for the inaugural instalment of the program. The decision came after a series of rigorous assessments, interviews, and due diligence processes.
As the DeFi ecosystem readies itself for the DeFi 2.0 revolution, the accelerator program aims to support future DeFi initiatives that use Polygon’s layer-2 capabilities in conjunction with Orbs’ layer-3 infrastructure. This will enable the projects to unleash new prospects and use-cases.
The winners and what made them stand out in the DeFi ecosystem
The program attracted nearly 100 submissions, with each proposal at a different stage of development. There were several initiatives that presented new ideas and concepts. However, only a few projects showed evidence of DeFi innovation, solid technical foundations, and tight-knit teams. Layer-2 capabilities of Polygon and layer-3 infrastructure of Orbs will be used in the accelerator program to support potential DeFi applications. This will open up new options for DeFi 2.0 and its revolutionary features and functionality.
Many advantages will be available to the selected projects. They include financing, exposure to the Polygon, Orbs, and DeFi.org communities, and mentorship options. Each of these initiatives aims to increase DeFi’s functionality.
Using their own or borrowed assets, Ithil assists investors in gaining exposure to a wide range of strategies across protocols. Prophet’s goal is to become the go-to platform for automated DeFi investment strategies. Prophet One-click investing options across a wide range of techniques are the primary goal of this product. Users have the option of investing in pre-built strategies or listing their own strategies. In the latter instance, they earn a fee from other users who employ those strategies.
OlympusDAO and Curve’s dual-token approach make CURL a focused synthetic liquidity protocol that combines the best of both worlds. Using many layer-2 networks, the system effortlessly distributes synthetic liquidity while allowing liquidity producers to earn Curve-style rewards. In addition, the platform makes it possible to issue layer-2 synthetic assets for each layer-1 asset. This aids in reducing liquidity dispersion and enhancing the overall user experience.
Last but not least, the reBaked project is working on a wide range of tools for DAOs and Web3 ecosystems in terms of governance, management, and operation. Its mission is to support them in creating and distributing their treasuries in a more effective and efficient manner.