July 26, 2022 – Tel Aviv, Israel
After announcing the launch of a special DeFi accelerator program in May, layer two scaling solution Polygon in partnership with layer three 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 two capabilities alongside Orbs’ layer three 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 two networks while empowering liquidity providers to earn Curve style rewards.
The platform also facilitates the issuance of layer two synthetic assets for every layer one 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 Web 3.0 ecosystems for better and efficient distribution and management of their treasuries and value creation.
Via the reBaked infrastructure, Web 3.0 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 Web 3.0, Polygon’s blockchain development platform offers scalable, affordable, secure and sustainable solutions for DApps operating in the Web 3.0 arena. With its growing suite of products, developers can access major scaling solutions like layer two (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 (layer three) that enhances the capabilities of EVM smart contracts via its interoperability with EVM-compatible blockchains and decentralized network of nodes.
Ran Hammer, Orbs