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Binance, Blockchain Firm Orbs to Sponsor New Accelerator for DeFi Innovation
The two firms have become core sponsors of the DeFi.org accelerator, which will provide grants for innovative startups working in decentralized finance.
Cryptocurrency exchange Binance and blockchain platform Orbs have announced they are teaming up to support a recently launched accelerator focused on research and development within decentralized finance (DeFi).
STORY CONTINUES BELOW
- In an announcement on Monday, the two firms said they are now the first core sponsors of the DeFi.org accelerator, which will bootstrap startups in the space.
- Grants in the region of "tens of thousands of dollars" will be provided to successful projects according to their needs, the firms' representative told CoinDesk. There will be no equity investments.
- DeFi.org is now looking for projects "based on the principles of fair distribution, community ownership, innovation, responsible approach to risk, sustainable economics and composability with the broader ecosystem."
- As well as grants, selected startups will receive market exposure and mentorship from individuals such as Orbs co-founder and technical lead Tal Kol.
- They will also receive "special consideration" for further funding from both Binance and Orbs.
Read more: Binance Labs Leads $12M Funding Round for Multi-Asset Wallet Developer MATH
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
