Stone Ridge Holdings Group, the parent company of Bitcoin infrastructure provider NYDIG has launched In Wolf’s Clothing (Wolf), an accelerator dedicated to the Bitcoin Lightning Network Layer-2 protocol.
Wolf seeks to converge innovators in New York City for 8 weeks as they will be mentored into designing some of the most profound solutions the industry needs. The accelerator will focus on the development, growth, and funding of companies building on Lightning. Stone Ridge will be providing accommodation and transportation to all eligible teams in each cohort and provide a robust reward for participating.
As announced by the company, all accepted teams receive a guaranteed investment of $250K, while one winner per cohort will be chosen to receive $750K
While this will be the first accelerator that will be dedicated to the Lightning network, different industry giants have been supporting the emergence of talented creators and developers in the industry via different means.
One major avenue to support the growth of new talents building solutions in the industry is via ecosystem funds, and over the past year, Avalanche, BNB Chain, and Near protocol amongst others have launched such funds to foster the growth of new creators in their ecosystem.
The Stone Ridge-backed Wolf Accelerator will focus on a wide range of topics including Bitcoin/Lightning/Taro, cryptography, regulation, engineering, marketing & branding, sales, and more.
"Over the past year, the Lightning Network has hit critical mass, and we expect that its growth will only further accelerate from here," said Kelly Brewster, CEO of Wolf. "That growth is ushering in a wave of innovation and development that will shape the future of decentralized finance. We are launching Wolf to empower the best founders and teams from around the world to build that future. If you have an idea, a proof-of-concept, or an early-stage business that touches Lightning, Wolf can help you build and scale."
Participants in the accelerator will be mentored by in-house veterans at Wolf, experts at Stone Ridge and NYDIG as well as key stakeholders in the industry.
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