Longhash Ventures and Terraform Labs have established a crucial DeFi and Web3 partnership. There will be a dedicated accelerator for Web3 development on the Terra blockchain through combined efforts. In addition, eligible projects will receive crucial support across different aspects of their building journey.
The Growth of Terra Attracts Attention
The year 2021, and early 2022, have been prominent for the Terra ecosystem. The network has gained tremendous momentum in decentralized finance, pushing its Total Value Locked above $30 billion. Moreover, it seems there is a growing developer community focused on Web3 projects involving Terra’s infrastructure. The network is cross-compatible with IBC blockchains, enabling a multi-chain world of DeFi and Web3.
Longhash Ventures acknowledges the position Terra finds itself in today. As more projects build on this technology, there is a growing need for support and incubation. Together with Terraform Labs, Longhash Ventures introduces the LonghashX Accelerator Terra cohort. Ten projects will be represented in the first “class” and go through a twelve-week boot camp to maximize their potential.
The Terra blockchain lends itself to building Web3 projects spanning numerous verticals. Examples include decentralized finance, blockchain gaming, NFTs, GameFi, etc. These concepts require a network that offers high performance and low fees, something Ethereum or most other competing blockchains cannot provide today.
The decision by Longhash Ventures to openly support Terra is an intriguing one. Its team has forged crucial partnerships with leading ecosystems, including Polkadot, Filecoin, Algorand, and others. Moreover, LongHash Ventures has a solid track record of accelerator and investing in leading Web3 protocols across various blockchains, making it a powerful partner for Terraform Labs.
The LongHashX Accelerator Terra Cohort
The LongHashX Accelerator for Terra projects will bring thought leadership in Web3-native topics to projects that can benefit from it. Moreover, the accelerator will pave the way for accessing LongHash Ventures’ network of investors and founders. In addition, there is up to $500,000 in funding for every project joining the program, creating strong incentives to leverage the benefits of this network.
LongHash Ventures Founding Partner Emma Cui states:
“As we significantly scale up our LongHashX Accelerator program in 2022, we are thrilled to partner with Terra to run our next cohort. We have been very impressed by the protocols and development of the Terra ecosystem, and we are very excited to continue to expand our accelerator partnership model with one of the world’s leading Web3 ecosystems. The collaboration gives us an opportunity to accelerate and invest in the next generation of projects building on Terra.“
The LongHashX Accelerator Terra Cohort kicks off in June 2022. All participants receive support and guidance to elevate product design, governance, tokenomics, and other crucial project aspects. Furthermore, there will be workshops, fireside chats, problem-solving sessions, and a Demo Day to let startups pitch to various investors.
It is crucial to note that LongHashX is the first Web3 accelerator in Asia. Moreover, it represents the vision of LongHash Ventures, one of the few entities to run its own accelerator program today. The Terra cohort empowers builders to pursue bold ideas by accessing top-tier resources and guidance, further solidifying Terra’s position in the broader blockchain ecosystem.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2022/04/long-hash-accelerator-partner-up-with-terraform-labs