Core Ventures Unveils BTC-FI Accelerator for DeFi Innovation
Introducing the BTC-FI Accelerator by Core Ventures
Core Ventures, a pioneering Bitcoin-focused venture fund, has officially launched an innovative accelerator program known as BTC-FI. This unique initiative aims to empower talented builders at the intersection of Bitcoin and decentralized finance (DeFi), fostering innovation and unlocking new potential within the cryptocurrency landscape.
Program Overview
The BTC-FI Accelerator is set to span 14 weeks and is designed to be fully remote, allowing participants from various backgrounds and locations to join in. Selected founders can access up to $100,000 in funding, coupled with hands-on mentorship and a treasure trove of industry connections to help them grow their projects right from the outset.
Applications Now Open
Applications are currently being accepted until the end of August. Core Ventures is eager to see proposals from Web3 developers who are innovating within the Bitcoin DeFi space, pushing the boundaries of what is currently possible.
Why Choose BTC-FI?
The timing of this accelerator is strategic. Core Ventures operates on an EVM-compatible Layer-1 blockchain, specifically crafted to enhance Bitcoin’s capabilities, acting as a complementary and scalable smart contract platform. By tapping into Bitcoin’s inherent security features and enabling self-custodial staking, Core helps to convert Bitcoin into an asset that actively contributes to DeFi ecosystems. This transformation allows developers to craft decentralized applications that can directly utilize Bitcoin’s liquidity and security.
Support for Founders
This accelerator is built on a strong ethos of providing a founder-first approach, which emphasizes operational support throughout the journey from concept to achieving market fit. Each startup cohort receives personalized guidance on critical areas such as product development, tokenomics, market strategy, legal structuring, and preparation for investor discussions. This founder-centric philosophy ensures that Core Ventures only flourishes when the startups succeed.
Focus Areas for BTC-FI Applicants
The BTC-FI program focuses on specific categories that are vital for shaping the future of the Core ecosystem and appealing to the evolving demands of the market. It looks for teams that are creating high-impact products capable of unlocking Bitcoin's utility within the DeFi landscape.
Chosen Categories for Applications
Eight teams will be carefully selected to receive funding, all aligned with Core’s ambitious vision and proving competence in their execution. If you’re working on projects that fall into these categories, this is the time to step forward:
- Yield Protocols: Initiatives that simplify and broaden access for average users to earn passive income on Bitcoin, whether through staking, lending, or newly developed mechanisms native to Core.
- DeFi Trading Applications: Tools that are user-friendly, scalable, and designed for speed, enhancing the trading experience without compromising decentralization.
- Launch Platforms: Platforms that make launching tokens or products more accessible. The ideal solutions lower entry barriers for both creators and users while aligning interests to foster sustainable value.
- High-Yield Growth Experiments: Innovative designs that can generate quick traction and scalability while aiming for sustainable economic models. If you are experimenting with unique incentive models or growth loops, we want to see your work.
Comprehensive Support for Selected Teams
All participants in the accelerator will gain extensive resources, including:
- Direct mentorship from experts within Core Ventures.
- Connections with investors, mentors, and the broader developer ecosystem.
- Strategic guidance addressing product development, token design, legal matters, and fundraising initiatives.
- Visibility for investors during a dedicated demo day.
Overall, Core Ventures plans to allocate up to $100,000 to teams that align closely with their vision and demonstrate the capacity to impact the ecosystem positively.
Application Process and Expectations
The application period spans six weeks, kicking off on July 21, culminating in late August. The program is set to begin in the third quarter and will deliver 14 weeks of tailored weekly support, culminating in a final Demo Day.
Founders wishing to participate should submit a pitch deck outlining their product roadmap, team information, and how their project aligns with Core's vision. Early submissions are valuable for receiving feedback and beginning discussions.
Call to Action for Builders
This accelerator presents a unique chance to collaborate with two highly focused forces in the cryptocurrency realm. If you envision developing the next wave of Bitcoin DeFi innovations, yield generation mechanisms, or tools for blockchain growth, we would love to hear from you!
Contact Information
If you have inquiries, please reach out:
- Core Ventures: investments@coredao.org
About Core Ventures
Core is fundamentally transforming idle Bitcoin into a dynamic yield-generating asset, driving the large-scale adoption of Bitcoin DeFi. Their self-custodial Bitcoin staking allows holders to time lock Bitcoin on the blockchain in exchange for rewards, all while minimizing additional risk exposure. This efficient mechanism not only helps secure the cutting-edge, EVM-compatible Core blockchain but also allows users to access an ever-expanding range of Bitcoin-centric decentralized applications.
With groundbreaking products such as Valour's yield-bearing Bitcoin ETP and lstBTC, the first liquid yield-generating Bitcoin asset, Core is redefining the possibilities in the cryptocurrency space. Currently, over $500 million is locked in DeFi Total Value Locked (TVL), demonstrating robust backing from over 7,000 time-locked Bitcoin and representing approximately 75% of Bitcoin mining hash power.
Frequently Asked Questions
What is the purpose of the BTC-FI Accelerator?
The BTC-FI Accelerator aims to empower developers by providing funding, mentorship, and networking opportunities for innovative Bitcoin DeFi projects.
How long is the BTC-FI program?
The program lasts for 14 weeks, offering a structured environment for participants to develop their projects.
What types of projects are eligible for application?
Projects focusing on yield protocols, DeFi trading applications, launch platforms, and high-yield growth experiments are encouraged to apply.
What support do selected teams receive from Core Ventures?
Selected teams will benefit from hands-on mentorship, connections to investors and the developer ecosystem, and strategic guidance in key areas.
How can founders apply for the accelerator?
Founders can apply by submitting a pitch deck, product roadmap, team information, and their alignment with Core’s vision and focus areas.
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