The group announced that four projects will get support from the program. The four projects are Ithil, Prophet, CURL, and reBaked.
The DeFi space was hit hard by the downturn in global markets, but there is still a lot of great stuff happening on the development end of DeFi. In time, there will be amazing tech developed in the space, as people look for more financial freedom in a world where central banks are using their power to move markets.
It isn’t surprising to see good ideas in the DeFi space, as the global dev community understands that we need new systems without gatekeepers.
The four projects will gain access to funding, and help from Polygon and Orbs. The two major platforms, Polygon and Orbs, have active development communities, and will be happy to mentor the four projects that were selected for the first round of the program.
DeFi is Happening – No Matter The Prices
It’s no secret that DeFi had a wild few years. 2021 saw a massive rise in token prices, but it was all about making quick profits. Like any boom, and we mean going back centuries, the money spent into the bubble created amazing platforms, and a lot of waste.
That is how free markets work. People are motivated by profit, and when there is seemingly easy money to be made, prices rise. Pets.com and Google stock were both blasted when the dot.com bubble burst, and today, we see that Google was the platform to buy.
The same thing is happening in DeFi – right now.
Almost 100 projects applied to this round of the DeFi.org accelerator program, which shows how much is happening in the DeFi development space. When people understand the power of DeFi, and that it can create a global, decentralized financial system, these platforms will be ready to help.
The boom and bust cycles that markets experience are normal, and people should have free access to markets. The sad fact is that there are billions of people globally who simply don’t have access to financial services, as banks and financial regulators don’t serve the poorest people.
The net result of this is a system that creates poverty, and keeps people away from modern financial services. DeFi can change that, as it relies on technology to allow people access to financial services. Money is data, and data is simple to move today.
Of course, the central planners who love power see the potential of these systems, which is why CBDCs are being developed across the world. The key is to educate people about the power of decentralized systems, and create platforms that are stable and simple to use.
More Coming From DeFi.org
DeFi.org is thrilled to be working with Ithil, Prophet, CURL, and reBaked, but there is a lot more coming. The simple fact is that DeFi won’t fold under market chaos, and the platforms that DeFi engenders are so powerful that the space is unstoppable.
Every project that was selected for the first round of this program offers something unique, and with time, people will start using DeFi in their everyday life. Especially with the current inflationary environment that favors the people at the center of the legacy financial system, DeFi has a lot to offer people that need systems that work.
People need better options when it comes to financial services, and the legacy financial system is on its last legs.
Polygon and Orbs are proof that decentralized systems both work, and can find lasting support. The future is bright for any platform that empowers human dignity, and supports sustainable development.