Dfinity launches the Web3 accelerator platform on the Internet

The Definity Foundation, a Swiss-based non-profit organization and major contributor to the Internet of Things Blockchain, has announced the launch of the Olympus Acceleration Platform.

According to the press release, Olympus represents the first decentralized, on-chain Web3 accelerator. Definity says it's a “first-of-its-kind platform” used by “groups around the world to organize and launch their own accelerator programs.”

The foundation also cites Olympus' “Open Stake” model, which allows projects, advisors and investors to “interact freely, incorporate a license-free ecosystem and enable unlimited integration” as a reason it differs from similar accelerator programs.

Dominic Williams, Founder and Chief Scientist of the Definity Foundation, described the platform as “a global platform for everyone” in a statement:

By creating a Web3-based global platform for everyone, we can bring together top talent, projects, investors and advisors to create a trusted and trustless marketplace with equal opportunity and access for all eligible projects. Traditional fast track programs are sanctioned and operate as silos, many of which are unsustainable and dependent on aid. Olympus is a new model.

The new platform features what Definity calls an “untrusted eternal loop,” which provides on-chain verification of key project growth metrics via Internet Computing Protocol infrastructure.

RELATED: Internet Computer Users Pledge $80M to Decentralize Project Ecosystem

The Internet of Things is a decentralized computing platform that uses blockchain technology to host software over the Internet. According to its mission, Internet Computing advocates to democratize Internet infrastructure and foster a more “open and fair digital ecosystem.”

Olympus was built with the support of Hong Kong-based Web3Labs, blockchain accelerator and advisory and other VC funds with investors and partners including Fenbushi Capital, Fundamental Labs, Softbank Vision Fund, NewTribe Capital, Cypher Capital, Bitcoin Frontier Fund, Summer Ventures, L2IV, Dext Force Ventures, Leadblock Partners, viaBTC Capital, Cipholio Ventures, Chiron Group, 3X Capital, Plutus.VC and others.