- Cronos ecosystem has launched a $100 million accelerator program to fund the next generation of blockchain developers.
- The program is part of Cronos’ strategy of scaling ecosystem growth.
- The program targets blockchain projects in the pre-seed or seed-stage looking for funding, mentorship, or/and growth.
The Cronos blockchain is scaling its developer ecosystem with a new $100 million accelerator program for the next generation of blockchain developers. The open-source blockchain platform said the program targets blockchain projects in the pre-seed or seed-stage looking for funding, mentorship, or/and growth.
Targeted startups are those specialising in DeFi, Web3 gaming and the metaverse, as well as, infrastructure & tooling. Cronos plans to pair each startup with a specialist industry mentor whilst also holding weekly workshops led by Cronos Labs.
Some of the topics to be addressed in the workshops include matters to do with protocol building, which will also leverage the experience of subject matter experts involved in the program.
Cronos has lined up top-tier partners to back the projects involved in the accelerator programs. Some of the notable backers include Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks.
The company said it will announce more partners at a later stage in the onboarding process.
Commenting on the program launch, Ken Timsit adds: “Through Cronos Accelerator, we want to enhance the potential of projects that sincerely want to help grow the ecosystem by providing support in almost every area of their operations.”
“In the current climate, it is more important than ever to put our heads down and start building aggressively. We are a top 10 blockchain via Total Value Locked at the moment, and are on track to reach the top 5 by the end of 2022,” Timsit added.
According to the program structure, Cronos Labs will offer between $100,000 and $300,000 to projects in the seed stage. Projects will also receive additional grant funding for security audits, node services and gas fees, as well as gaining an opportunity to receive funding from established VC partners.
Moreover, Cronos plans to offer marketing support by granting access to its growing user base on social media. Projects will also be supported through AMA webinars, as well as, business support from Cronos Labs and industry experts.
More support will be offered through weekly 1-on-1 mentorship and networking with leaders, fast-tracking with audit partners and a comprehensive introduction to Crypto.com (Cronos parent organisation) products and services: DeFi Wallet, Exchange, App, and NFT Marketplace.
Cronos VP Ella Qiang commented: “After speaking with many projects in the industry, we realised that while many have high potential, they may not have all the tools they need to stand out and build sustainable tokenomics. We want to provide the necessary support for early-stage projects and accelerate their growth on Cronos.”
Stay up to date: