Participants in the acceleration program receive funding, mentorship, and market access through the DeFi.org platform.
As part of a new development for decentralized finance, the Ethereum scaling platform Polygon, in partnership with the Tier 3 project Orbs, has launched a DeFi developer support program through the DeFi accelerator platform DeFi.org.
In the announcement, Polygon and DeFi.org noted that the program will provide funding, mentoring, and go-to-market opportunities for select projects. Build on Polygon is required for participants of the DeFi.org accelerator round. On the other hand, special attention is paid to those who use the Orbs infrastructure.
As Polygon focuses on scaling Ethereum, Orbs claims it can offer benefits such as improved smart contracts through its infrastructure. Thus, the Accelerator program focuses on the development of projects that include Polygon Layer 2 solutions and Orbs Layer 3 infrastructure.
In addition to the above benefits, the program will also provide promising projects with a “liquidity injection” and functionality on various platforms during launch, including the DeFi.org website.
DeFi.org was launched by Binance and Orbs back in 2021 to support the research and development of open source projects in the DeFi industry, marking the transition of the Orbs project towards decentralized finance.
Related: Aurora Raises $90M to Fund DeFi Applications on Near Protocol
Meanwhile, as Terra-based developers are suffering from the recent incident, Polygon has announced that it is ready to welcome both developers and the Terra-based project community. Ryan Wyatt, CEO of Polygon Studios, said they are already working on supporting such projects for porting to the Polygon network.
In early May, Polygon announced that it would partner with Meta to create a non-fungible token (NFT) platform for Facebook and Instagram social networks. After that, the price of MATIC showed a rebound similar to the price movements that led to a 275% increase in the asset in 2021.
