As the decentralized finance (DeFi) ecosystem broadens its horizons, Polygon, the layer-2 (L2) scaling solution, is set to expand its footprint across this fast-growing sector.
Together with Orbs, a layer-3 (L3) blockchain infrastructure solution, and Defi.org, a community-led decentralized finance accelerator, Polygon has announced the launch of its new DeFi accelerator program.
This newly-unveiled program aims to shift the focus to projects employing Polygon’s L2 capabilities alongside Orbs’ L3 infrastructure, thereby unlocking more value for the DeFi.org platform.
Both Polygon and Orbs offer unique features deemed vital to the DeFi 2.0 revolution. For instance, Polygon’s extensive suite of products grants developers easy access to multiple scaling solutions, including ZK Rollups, Optimistic Rollups, sidechains, hybrid chains, as well as standalone and enterprise chains.
Developers interested in building on Ethereum but are concerned about the network’s congestion and skyrocketing gas fees can leverage Polygon’s scalable, secure, sustainable, and highly affordable infrastructure to build and implement EVM-compatible Dapps and protocols.
Meanwhile, Orbs’ public blockchain infrastructure is designed for interoperability with all EVM-compatible blockchains. Its decentralized network of nodes enables developers to set up separate execution layers (L3), which further enhances the capabilities of EVM-based smart contracts.
By working in parallel with other L1 and L2 solutions as part of a “tiered” blockchain stack, Orbs’ Layer-3 infrastructure taps into a whole new spectrum of possibilities for DeFi, NFTs, GameFi, and even the Metaverse.
Empowering New-Age DeFi Projects
Founded by the Orbs project, DeFi.org is dedicated to supporting research, open-source software development, and community engagement.
It seeks projects that follow the principles of fair distribution, community ownership, innovation, responsible management of risk, sustainable economics, and engagement with the broader ecosystem.
To that extent, Polygon’s upcoming DeFi Accelerator program for DeFi.org will focus on aiding projects using Layer-2 and Layer-3 infrastructure to harness the power of Ethereum.
As such, projects participating in the program will feature Ethereum’s security, Polygon’s scalability, and Orbs’ L3 capabilities, thereby taking DeFi to new heights.
According to the Polygon team, all projects joining its DeFi Accelerator program must build on Polygon. However, the projects that utilize Orbs’ L3 infrastructure will be subject to special considerations.
The upcoming DeFi.org accelerator program participants are also eligible to receive additional benefits, including access to funding opportunities, mentorship, and exposure to communities.
In addition, DeFi.org has committed to providing liquidity injections for select projects along with a featured listing on its official website and other notable venues during launch.
The DeFi Accelerator program is currently accepting applications. However, the selection is subject to the terms and conditions of the DeFi.org accelerator program.
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