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Binance to sponsor New Accelerator for DeFi innovation, with the blockchain firm Orbs.
The number of projects entering the blockchain and cryptocurrency space is quite high nowadays. Some worthwhile ideas and projects within the blockchain ecosystem need to be nurtured and discovered.
Binance has its own launchpad that helps the startups raise funds and take these projects to the crypto enthusiastic community. Binance has its own investment wing, Binance Labs that supports several budding projects in the DeFi and blockchain arena.
The leading cryptocurrency exchange Binance, and Orbs, a blockchain platform, have teamed up to fund a recently launched research and development based accelerator in the DeFi sector. This support by Binance and Orbs will skyrocket their reach in the market. DeFi.org will bootstrap startups in the DeFi space. DeFi accelerator is passionate about helping bootstrap new projects and DeFi protocols.
DeF.org made a press release that they are ready to grant at least tens of thousands of dollars to successful products and innovative protocols according to their needs. Also, DeFi accelerator is strong in its stance, saying no to equity and investments.
The firm has stated some principles, and the beneficiary product or protocol should strictly fall under these:
- Fair distribution, no early access or pre-mine
- Community ownership and governance early on
- Innovation, but responsible approach to risk
- The economics that makes sense and can be sustainable
- Composability and interop with the ecosystem
DeFi.org accelerator, in addition to providing momentum for the projects, is much more. It offers liquidity injection opportunities for promising projects, multi-million dollar TVL on the launch, and funding for bootstrap expenses, from a security audit to graphic design.
Also, they added that the selected projects are about to get great market exposure and mentorships from Orbs co-founder and technical lead Tal Kol. The startups will also be given special consideration for Binance's and Orb's further funding.
Binance and Orbs' involvement in the DeFi.org accelerator will flood the market with innovative startups waiting for the momentum to get started.