Binance and Orbs sponsor new accelerator for DeFi startups

Orbs, an Israeli blockchain company building a public blockchain infrastructure project, and Binance, announced Monday the launch of a new accelerator for the DeFi ecosystem.

Named, the accelerator focuses on supporting research and development of open-source software and community development in the DeFi space. The accelerator will evaluate projects based on their innovativeness and composability within the space, as well as principles of fair distribution, community ownership, sustainable economics and a sound approach to risk management.

Participants receive benefits including mentorship, opportunity for funding and exposure to the market and DeFi community. The accelerator’s mentors initially include veterans of the Orbs team, with Binance team members expected to join soon. Additional mentors from different backgrounds are being recruited as well.

In line with the sponsorship, startups will have additional consideration if they are willing to apply for participation in Binance’s “Bridging DeFi and CeFi” program or the Orbs Grant Program. The wider accelerator program is nonetheless blockchain agnostic, and allows anonymous developers to participate as well.

The sponsorship also marks an upcoming transition to DeFi for the Orbs project. One of the accelerator’s mentors is Tal Kol, technical co-founder of Orbs. According to the team, he led efforts to research and develop DeFi protocols in-house. Orbs has previously focused on enterprise adoption, but its proof-of-stake consensus algorithm is using an Ethereum-based token to represent value, making DeFi integrations easier than with most other layer-one blockchains.

Nonetheless, the accelerator is as of yet missing well-known players and founders in DeFi among its participants. Competition for hosting DeFi projects on non-Ethereum blockchains is fierce, as a multitude of competitors promise faster blockchains and support. Nonetheless, some believe DeFi activity will remain confined within the Ethereum ecosystem.

Title: Binance and Orbs sponsor new accelerator for DeFi startups
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Published Date: Mon, 11 Jan 2021 17:52:27 +0000

Lillian Call

Lillian Call– Financial I am known as Lillian Call, I am a writer and an industrialist by profession. My age is 32 years. My aim is to gather the attention of the targeted audience without being boring and unexciting. I like to utilize the free time in writing my views and thoughts for my book lovers or readers. My most preferred articles are usually about technology and business; however, I have written various topics in my articles. I do not have a specific genre. I get very creative when I have to express myself, I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.

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