Polygon collaborates with Orbs and DeFi.org to create an accelerator program

The platform DeFi.org will provide funds, guidance, and industry exposure to participants in the accelerator program.

Polygon, an Ethereum scaling platform, has teamed with layer-3 project Orbs to create a program that assists DeFi builders using the DeFi accelerator platform DeFi.org, in a new move for the decentralized finance sector.

Polygon and DeFi.org said in a statement that the program will provide funds, guidance, and industry exposure to selected projects. Participants in the DeFi.org accelerator round are required to work on Polygon. Those who use Orbs’ infrastructure, on the other side, will be granted specific consideration.

Orbs claims to be able to provide advantages like smart contract development through its infrastructure, while Polygon focuses on scaling Ethereum. The accelerator program will concentrate on initiatives that integrate Polygon’s layer-2 solutions with Orbs’ layer-3 infrastructure.

In addition to the benefits listed above, the initiative will give potential projects a “liquidity injection” and a presence on multiple platforms, including the DeFi.org website, during the launch.

Binance and Orbs established DeFi.org in 2021 to promote open-source project research and development in the DeFi industry, signifying the Orbs project’s move to decentralized finance.

In the meantime, in the wake of the latest incident affecting Terra-based developers, Polygon has declared that it is prepared to invite both developers and communities of Terra-based projects. Polygon Studios CEO Ryan Wyatt stated that the company is already working to assist such projects in transitioning to the Polygon Network.

Polygon said earlier this month that it would collaborate with Meta to develop a platform for nonfungible tokens (NFT) on Facebook and Instagram. After that, MATIC’s price witnessed a comeback that resembled the price swings that led to the asset’s 275% gain in 2021.