Participants in the accelerator program will receive money, mentorship, and market visibility via the DeFi.org platform.
In a significant move for the decentralized finance field, Ethereum scaling platform Polygon has joined forces with layer-3 project Orbs to offer a program that helps DeFi builders via the DeFi accelerator platform DeFi.org.
Polygon and DeFi.org announced in an announcement that the program will provide financing opportunities, mentorship, and market exposure to selected projects. Participants in the DeFi.org accelerator round must build on Polygon. Those who use Orbs’ infrastructure, on the other hand, will be granted particular priority.
While Polygon focuses on scaling Ethereum, Orbs says that its architecture may provide benefits such as smart contract enhancement. As a result, the accelerator program will concentrate on creating applications that combine Polygon’s layer-2 solutions and Orbs’ layer-3 infrastructure.
Aside from the benefits described above, the initiative will also reward potential projects with “liquidity injections” and a feature on multiple platforms, including the DeFi.org website, during the launch.
Binance and Orbs founded DeFi.org in 2021 to promote the study and development of open-source initiatives in the DeFi industry, signaling the Orbs project’s move to decentralized finance.
Meanwhile, with Terra-based developers still reeling from the recent tragedy, Polygon has said that it is ready to welcome both Terra-based developers and communities. Polygon Studios CEO Ryan Wyatt stated that the company is already working to assist such projects in transitioning to the Polygon Network.
Polygon stated earlier this month that it would collaborate with Meta to develop a platform for nonfungible tokens (NFT) for social networks Facebook and Instagram. Following this, the MATIC price witnessed a bounce that appears to be similar to the price moves that lead to the asset’s 275 percent rally in 2021.