In a significant move for the decentralised finance space, Ethereum scaling platform Polygon has joined up with layer-3 project Orbs to launch a programme that helps DeFi builders through the DeFi accelerator platform DeFi.org.
Polygon and DeFi.org said in an announcement that the initiative would give financing possibilities, mentorship, and market exposure to selected projects. Participants in the DeFi.org accelerator round must build on Polygon. Those who use Orbs’ infrastructure, on the other hand, will be granted particular priority.
While Polygon focuses on scaling Ethereum, Orbs says that its architecture may provide advantages such as smart contract enhancement. As a result, the accelerator programme will concentrate on creating applications that combine Polygon’s layer-2 solutions with Orbs’ layer-3 infrastructure.
Apart from the benefits outlined above, the initiative will also reward potential projects with “liquidity injections” and a feature on multiple platforms, including the DeFi.org website, during the launch.
Binance and Orbs founded DeFi.org in 2021 to promote the research and development of open-source initiatives in the DeFi sector, marking the Orbs project’s move to decentralised finance.
Meanwhile, with Terra-based developers still suffering from the recent tragedy, Polygon has said that it is ready to welcome both Terra-based developers and communities. Polygon Studios CEO Ryan Wyatt said that the company is already working to assist such projects in moving to the Polygon Network.
Polygon stated earlier this month that it would partner with Meta to develop a platform for nonfungible tokens (NFT) for social networks like Facebook and Instagram. Following this, the MATIC price witnessed a recovery that seems to be comparable to the price moves that led to the asset’s 275% rise in 2021.
