Solverse Accelerator was established to support high-potential projects building on Solana. It’s also a way to incentivize further development on the blockchain network, which has grown rapidly this year.
exposedcrypto.com/tags/solana” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/exposedcrypto.com/tags/solana/amp”>Solverse, a Solana-focused accelerator program, has tapped 21 subject matter experts to advise on up-and-coming Solana projects, setting the stage for further development of the high-performance blockchain network.
Representatives from 21 companies were selected to join the Solverse mentorship program. The mentors themselves come from diverse backgrounds, including global investment banking, blockchain infrastructure and media. Representatives from exposedcrypto.com/news/alameda-research-invests-4m-in-vietnamese-defi-project” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/exposedcrypto.com/news/alameda-research-invests-4m-in-vietnamese-defi-project/amp”>Alameda Research, Axia8 Ventures, Bitscale, Lemniscape and many others will make up the mentorship panel.
The infrastructure provided by Solana will bring De-Fi capacity and sophistication to the next level,” said Wayne Lin, founder of Axia8 Ventures. “Our goal with Solverse is to create a brain trust with the top minds in the industry and to aggregate resources for products and services that will elevate the on-chain world.”
The projects selected for Solverse Accelerator will receive advisory support from the mentors, as well as a go-to-market strategy. The accelerator program also provides resources and grants to aid entrepreneurs in bringing their products to market.
The Solana ecosystem has become a hotbed of activity for developers of late, with Metaplex becoming the first nonfungible token platform to launch on the network. Since launching in March, the Solana ecosystem has exposedcrypto.com/news/solana-pumps-to-all-time-high-as-bitcoin-altcoins-lag” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/exposedcrypto.com/news/solana-pumps-to-all-time-high-as-bitcoin-altcoins-lag/amp”>facilitated over 50 market-ready projects by last count. Decentralized finance, or DeFi, continues to be the biggest use case for the network.
Solana Foundation, the grants program underpinning the network, announced earlier this year that it had exposedcrypto.com/news/solana-raises-40-million-in-strategic-investments-from-okex-mxc-exchanges” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/exposedcrypto.com/news/solana-raises-40-million-in-strategic-investments-from-okex-mxc-exchanges/amp”>raised $40 million in strategic investments from cryptocurrency exchanges OKEx and MXC. The cash injection will help accelerate the development of several projects set to launch on the Solana network.