Polygon is partnering with Orbs and DeFi.org to launch an acceleration program

In a new development for decentralized finance, Ethereum scaling platform Polygon has partnered with layer 3 project Orbs to launch a program supporting DeFi builders via DeFi accelerator platform DeFi.org.

In an announcement, Polygon and DeFi.org noted that the program will provide funding opportunities, mentoring, and market exposure for select projects. Building on Polygon is mandatory for participants in the DeFi.org accelerator round. On the other hand, those who use the infrastructure of orbs are given special consideration.

As Polygon focuses on scaling Ethereum, Orbs claims it can offer benefits such as enhancing smart contracts through its infrastructure. With this, the Accelerator program focuses on the development of projects that incorporate Polygon’s Layer 2 solutions and Orbs’ Layer 3 infrastructure.

Aside from the above benefits, the program will also provide promising projects with a “liquidity injection” and feature on various platforms during launch, including the DeFi.org website.

DeFi.org was launched by Binance and Orbs back 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 $90M Fund to Fund DeFi Apps on Near Protocol

Meanwhile, as Terra-based developers suffer from the recent incident, Polygon announced that it is ready to welcome both the developers and communities of Terra-based projects. Ryan Wyatt, CEO of Polygon Studios, said they are already working on supporting such projects to be ported to the Polygon network.

Beginning of May polygon announced that it would work with Meta to create a non-fungible token (NFT) platform for the Facebook and Instagram social networks. Following this, MATIC’s price staged a rebound similar to the price moves that led to the asset’s 275 percent rally in 2021.