Milkomeda Accelerator is Ready to Kick off With its First Batch of Web3 Startups
After receiving over 60 applications from different corners of the world, the Milkomeda Accelerator officially announces its top five winners and welcomes them to a six-week program to build on Milkomeda for the Cardano ecosystem.
With the support of dcSpark, a crypto ecosystem builder, and dlab — a venture capital and investment management firm established by SOSV — the Milkomeda Accelerator has selected five promising startups that will be bringing new applications and use cases to the Milkomeda C1 sidechain.
The aim is to work directly with the teams building on Milkomeda C1, allowing the ecosystem to expand its offering. With the support of the Milkomeda Accelerator, teams will be provided guidance, mentoring, integration assistance, promotion, and additional resources. Using the Milkomeda protocol, an L2 solution that provides EVM capabilities to non-EVM blockchains, teams can access opportunities to develop their startups with professional expertise.
It has been two months since the Milkomeda Accelerator launched and in that timeframe we’ve received over 60 applications, all from startups and businesses who have aspirations to build on the Milkomeda sidechain — and to later deploy on the Cardano chain, Milkomeda C1. After an extremely difficult selection process, today we are announcing our top five winners (in no particular order):
Milkomeda Accelerator Winners (Batch 1):
- SingleFinance.io
Single Finance is a pseudo-market-neutral strategy with a human touch! They are the first marked-to-USD DeFi yield-earning platform, offering strategies that protect user capital by minimizing the impact of the price effect.
The platform operates on EVM-compatible blockchains and is designed to be interoperable with additional blockchains while earning yields from cross-chain platforms.
Web: https://singlefinance.io/
Twitter: @single_finance
Documentation: https://docs.singlefinance.io/home/
Join Single Finance Discord here.
2. xDao
xDAO is your fully customizable DAO builder. It allows companies and projects to invest in decentralized protocols as a joint entity. It allows any group of people to easily create a Decentralized Autonomous Organization (DAO), deposit their crypto assets, manage them by voting, sell their DAO shares, and directly interact with any DeFi protocol.
Twitter: @xdaoapp
Documentation: https://github.com/xdao-app/xdao-contracts
Join XDAO’s Discord here
3. Lemuria
Lemuria allows you to compound on Milkomeda! It aims to become the main decentralized Yield Optimizer on Milkomeda, allowing users to earn compound interest on their crypto holdings with a click (and by paying a small fee of 4.2%).
Web: https://www.lemuria.finance/#/milkomeda
Twitter: @LemuriaFinance
Documentation: https://docs.lemuria.finance/overview/what-is-lemuria-finance
Join Lemuria's Discord here.
4. CreamTank Protocol
CreamTank Protocol aims to become important player when it comes to lending and borrowing on the Milkomeda protocol. CreamTank allows users to borrow and lend their assets across multiple chains while enjoying low fees and fast transactions thanks to EVM technology. The chain establishes a high-velocity money market and provides growth to the whole Milkomeda ecosystem.
Twitter: @TankCream
Documentation: https://creamyworks.gitbook.io/creamtank/
Join CreamTank’s Discord here.
5. Djed Alliance
Djed Alliance has developed the Djed Protocol, which is the first algorithmic stablecoin protocol in Cardano and where any stability claims are mathematically stated and proven. Djed behaves like an autonomous “bank” that may buy or sell stablecoins for a specific price in a range that is previously defined (pegged to a target price).
Documentation: https://eprint.iacr.org/2021/1069
Milkomeda Accelerator Program:
The six-week Milkomeda Accelerator Program invites startup teams to put their energy into building. The program offers access to networks that help startups scale and grow together as an ecosystem.
Led by dlab and dcSpark, teams are given a 1:1 OKR review on a bi-weekly basis. The program includes marketing strategy support, podcasting opportunities, and presentation advising for the final Demo Day.
The program is done 100% remotely with teams joining from Asia, North America, and Europe. Additionally, startup teams will get access to 10K USDC in funding (non-dilutive grant funding), technical advice on how to integrate with Milkomeda, and a final showcase to demo their products to new users. Startups also have the opportunity to access future funding from dlab and program partner VCs investing in the Milkomeda ecosystem.
Our official thank you to the Cardano Community:
The Milkomeda Accelerator has been made possible thanks to the significant contribution of the Cardano community from Cardano Catalyst during Fund 7. The aim is to continue developing while facilitating opportunities for up-and-coming startups to build on the expansion of Milkomeda C1 and its players.
For more information about what each startup gets, you can check our previous post here.
