Cronos, an EVM (Ethereum Virtual Machine) compatible layer-1 blockchain backed by major crypto exchange Crypto.com, has launched the second iteration of its 10-week programme to further support and scale projects built on the Cronos Chain.
Following the success of the Cronos Accelerator Program Cohort 1, with over 400 applications and nine key projects selected, cohort 2 of the Cronos Accelerator Program is now open for applications. For the program with a $100 million war chest, applications are open till 28th November 2022.
‘A journey of ten thousand miles begins with a single step.’ Tweeted Crypto.com CEO, Kris Marszalek. “6 years ago it was me filling in application forms for an accelerator. Take the first step and apply today, you don’t know where the journey takes you.” he added
Every quarter, the Cronos Accelerator Program will support 8-10 projects in DeFi, Web 3.0 gaming & Metaverse, and Infrastructure & Tooling. Workshops, funding opportunities, marketing and audit support, and networking opportunities are all part of the programme.
Successful Cronos Accelerator Program applicants will be matched with reputable industry mentors and supported by weekly workshops led by Cronos Labs and external subject matter experts.
According to the company’s recent blog post, the selection criteria for the programme include projects that fall under one of the three focus verticals, are in the pre-seed or seed stage of fundraising and have not yet attracted any institutional funding, as well as the team that is working on the project full-time. An optional but recommended criterion also includes projects that have an MVP product ready.
Cronos Managing Director Ken Timsit comments:
Entering the second cohort of the Accelerator program, we are looking for projects that will add to the diversity of the Cronos ecosystem, strengthen the existing community, and propel the growth of our user base. While there remains a need to provide more user-friendly dApps to help onboard the mainstream in light of the growing recognition and adoption of Web3, founders and developers are left to navigate uncharted territory.
The second Cronos Accelerator Program will prioritize candidates in Advanced DeFi Applications such as Innovative DEXes, innovative money markets, custom-made strategy vaults, decentralized derivatives, and so on.
The programme will also give preference to candidates from Web 3.0 Gaming, SocialFi, and NFT Infrastructure, which includes games, Web3 Social Applications, Metaverse, SocialFi, NFT financialization, and so on. Furthermore, Infrastructure & Tooling candidates are also added to the programme.
