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 DeFi.org, 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,