Each of the four chosen participants was declared on merit following an intense round of reviews, live interviews, and due diligence processes.
DeFi.org has selected the first four participants in the accelerator program that is being spearheaded by Layer-2 protocol Polygon, and Layer-3 network, Orb. As contained in a press release shared with Coinspeaker, the four chosen participants, chosen from close to a hundred applicants, include Ithil, Prophet, CURL, and reBaked.
The idea behind the accelerator program is to create an avenue whereby innovative protocols that are focused on building unique opportunities in the Decentralized Finance (DeFi) ecosystem as it approaches a move into DeFi 2.0 would get the support they need. The DeFi protocols that are of interest are those building on Polygon and Orb protocols respectively.
The selection of these winners was subjected to a very rigorous process highlighting their current level of development. While the majority of the entries received demonstrated novel concepts and ideas, only a few showcased promising DeFi ingenuity, strong technical foundations, and well-knit teams.
The four benefiting protocols will gain access to a number of benefits that will be opened to them as they continue to build their products. These benefits include but are not limited to access to funding opportunities, exposure to Polygon, Orbs, and DeFi.org communities, and mentorship.
Insights into the DeFi.org Chosen Accelerator Participants
Each of the four chosen participants was declared on merit following an intense round of reviews, live interviews, and due diligence processes.
The first project, Ithil, is branded as an investment outfit that helps its users to gain exposure to a diversified set of strategies across protocols using their own or borrowed funds. With the option to borrow funds that can easily be invested, Ithil offers massive flexibility for investors. Notably, its modular structure makes it an open-box financial solution for one-click access to different tailored investment products.
Prophet offers a marketplace for automated DeFi investment strategies, catering to a very niche need in today’s financial ecosystem. One of the primary focuses of Prophet is to lower the barriers of entry by offering a one-click solution for investments across complex DeFi strategies. The prophet platform enables users to list their own trading strategies for which they earn a commission, and they can also choose from an array of DeFi investment strategies listed.
CURL offers a concentrated synthetic liquidity pool as it ingeniously combines the attributes of Curve and OlympusDAO through its dual token model. As described in the shared release, the “CURL 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.”
reBaked on the other hand provides a DAO management system through which DAO and Web3.0 protocols can effectively manage their treasuries. The reBaked protocol fosters collaborative efficiency including functional communities, decentralization and efficient communities among others.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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