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Here Are DeFi Ideas That Will Get Grant From Binance, Orbs

Here Are DeFi Ideas That Will Get Grant From Binance, Orbs
  • Binance and Orbs have launched an accelerator program named DeFi.org.
  • In a blog post, Orbs Co-Founder Tal Kol provided examples on which DeFi startups they are most interested in.
  • DeFi projects accepted into the program can enjoy a number of benefits. However, if they fail to hit their targets, they may not receive further funding.

Aspiring DeFi startups now have a better chance to reach their goals, as Binance and Orbs have launched an accelerator program. Named DeFi.org, this will assist startups with funding and mentorship.

According to Orbs Co-Founder Tal Kol, the accelerator will focus on DeFi because this “holds a lot of innovation potential”. However, they admit that their existing roadmap hasn’t covered it yet.

Examples of Interesting DeFi Pitches

Interested DeFi startups can apply for the grant through the DeFi.org website. However, Binance and Orbs are looking for ideas that are “community-driven”. They also cited a couple of examples to show which pitches they are most interested in.

Firstly, Orbs is looking for pitches that leverage the ERC20 nature of the ORBS token. Secondly, they want to see projects that provide decentralized programmable liquidity. Thirdly, they are interested in lending platforms, collateral-backed loans, and oracles.

Aside from the above examples, they also find interesting the creative use of token reserves. Finally, governance tokens may also grab a spot in the accelerator program.

Perks of DeFi Startups Accepted Into the Program

Once accepted into the program, DeFi startups will receive exclusive mentorship and hands-on experience from Orbs and Binance. They will also receive funding for their project on a by-round basis.

Additionally, the founders will provide a liquidity injection opportunity for projects that have potential. Specifically, they can have the chance to hit multimillion-dollar total value locked (TVL) upon launching.

Finally, they will leverage their connection and renown in the crypto industry.

The partnership also assured participants that all investment will not count as equity. Hence, the project will be theirs alone.

However, DeFi.org will give the grant in multiple installments to check whether the project is hitting its targets. If they fail to “hit their deliverables”, Binance and Orbs may not distribute further funding.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.