Bullets, an Israeli blockchain company building a public blockchain infrastructure project, and Binance announced the launch of a new accelerator for the DeFi ecosystem on Monday.
Called DeFi.org, the accelerator, focuses on supporting open source software research and development, as well as community building in the DeFi area. The accelerator evaluates projects based on Innovation and composition within the space, as well as the principles of fair distribution, community ownership, a sustainable economy and a sound approach to risk management.
The participants receive benefits such as mentoring, financing options and contact to the DeFi market and the DeFi community. The accelerator’s mentors will initially include veterans of the Orbs team and members of the Binance team are expected to join soon. Additional mentors from different backgrounds are also employed.
In accordance with the sponsorship, Stratups will give additional consideration when they are ready to apply for Binance’s Bridging DeFi and CeFi program or the Orbs Grant program. However, the more comprehensive accelerator program is independent of the blockchain on which the project is based and also allows anonymous developers to participate.
The program also marks an upcoming transition to DeFi for the Orbs project. One of the gas mentors is Such col, technical co-founder of Orbs. According to the team, he led the internal research and development for DeFi protocols. Orbs has previously focused on enterprise rollout, but its deployment consensus proof algorithm uses an Ethereum-based token to represent value, making DeFi integration easier than most of the other’s other layer of blockchains.
However, Accelerator DeFi.org does not yet have any known players and founders in the DeFi ecosystem as participants. Competition for Host DeFi projects on blockchains other than Ethereum It’s fierce as a lot of competitors are promising faster blockchains and support. However, some believe so DeFi’s activities remain limited in the Ethereum ecosystem.