In a new development for the decentralized finance space, Ethereum scaling platform Polygon has partnered with layer 3 project Orbs to launch a program that supports DeFi builders through the DeFi accelerator platform DeFi.org.

In an announcement, Polygon and DeFi.org noted that the program will provide funding, mentorship, and market exposure opportunities for selected projects. Building on Polygon is mandatory for DeFi.org accelerator round participants. On the other hand, those using the Orbs infrastructure will receive special consideration.

While Polygon focuses on scaling Ethereum, Orbs claims to be able to provide benefits such as smart contract enhancements through its infrastructure. With this, the accelerator program will focus on developing projects that incorporate Polygon’s Layer 2 solutions and Orbs’ Layer 3 infrastructure.

In addition to the benefits mentioned above, the program will also provide promising projects with a “liquidity injection” and a feature on various platforms at launch, including the DeFi.org website.

Binance and Orbs launched DeFi.org in 2021 to support research and development of open source projects within the DeFi industry, marking the Orbs project’s transition to decentralized finance.

Related: Aurora launches a $90 million fund to finance DeFi applications on Near Protocol

Meanwhile, with Terra-based developers suffering from the recent incident, Polygon announced that it is ready to welcome both developers and communities of Terra-based projects. Polygon Studios CEO Ryan Wyatt said that he is already working to help get such projects transferred to the Polygon Network.

In early May, Polygon Announced which would partner with Meta to create a non-fungible token (NFT) platform for the social networks Facebook and Instagram. Following this, the MATIC price saw a rally similar to the price movements that led to the asset’s 275% rally in 2021.





This post Polygon partners with Orbs and DeFi.org to launch accelerator program

was published first on https://cointelegraph.com/news/polygon-partners-with-orbs-and-defi-org-to-launch-an-accelerator-program

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