Dfinity Foundation unveils Olympus, the first decentralized blockchain accelerator

The Dfinity Foundation, a not-for-profit organization based in Switzerland and major contributor to the Internet Computer blockchain, announced the launch of the Olympus Acceleration Platform.

According to a press release, Olympus represents the first decentralized, on-chain Web3 accelerator. Dfinity said it’s “a first of its kind platform” that will be used by “teams around the world to organize and launch their own accelerator programs.”

The foundation also cites Olympus’ “Open Stake” model, where projects, mentors and investors can “interact freely, enabling permissionless ecosystem inclusivity and unlimited integrations” as a determining factor separating it from similar accelerator programs.

Dominic Williams, founder and chief scientist of the Dfinity Foundation, described the platform as “a global platform for everyone, in a statement:

“By creating a web3-based global platform for everyone, we're able to bring together top talent, projects, investors, and mentors to create a credible and trustless marketplace offering equal opportunity and access to all qualified projects. Traditional accelerator programs are permissioned and operate as silos, many are also not sustainable and rely on grants. Olympus is a new model.”

The new platform will purportedly feature what Dfinity calls a “trustless perpetual loop,” providing on-chain verification of key project growth metrics, via the infrastructure of the Internet Computer Protocol.

Related: Internet Computer users pledge $80M to decentralize its project ecosystem

The Internet Computer is a decentralized computing platform that leverages blockchain technology to host software directly on the internet. According to its mission, the Internet Computer’s supporters aim to democratize internet infrastructure and foster a more “open and equitable digital ecosystem.”

Olympus was developed with support from Hong Kong-based Web3Labs, a blockchain accelerator and with mentorship and other support from investors and partners at VC funds 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.