The LongHashX-Axelar Accelerator and Axelar Grant Program cohorts are now complete. Five development-stage teams will participate in the LongHashX-Axelar Accelerator, and 11 idea-stage teams will receive Axelar grants. All are building projects that solve problems the centralized web cannot solve, and are geared for mass adoption by enabling frictionless user onboarding.
Funding for the LongHashX-Axelar Accelerator cohort totals $500,000, with each team receiving $100,000 in equity investment. In the grant program, idea-stage teams have each received grants of up to $10,000.
The global cohort LongHashX-Axelar Accelerator teams will undergo a 12-week program of information sessions and 1:1 problem-solving, followed by a demo day that will present the teams to investors and partners in Axelar and LongHash’s combined network. Grant program teams will benefit from access to the same network as they develop their ideas to prepare for seed and pre-seed funding.
The teams in the LongHashX-Axelar Accelerator cohort were picked from over 250 applicants — a record for a LongHashX accelerator program. LongHashX is run by LongHash Ventures, a global venture firm focused on Web3 investment. Previous accelerator cohorts include partnerships with Filecoin, Polkadot and other top-tier blockchain infrastructure projects.
The Accelerator and Grant Program cohorts are unique in that all teams participating will benefit from the ability to onboard users from any blockchain, using Axelar’s secure interchain communication infrastructure. This critical differentiator will put these teams on the same footing with centralized exchanges, which to date have been the growth onramps in each wave of cryptocurrency and blockchain adoption.
In the Accelerator cohort, teams are working on a wide variety of Web3 categories, including user-friendly consumer payments; interchain GameFi developer tooling; B2B payments; and decentralized NFT exchange. In the grant program cohort, teams are working on an even wider range of ideas, including NFT finance and exchange; decentralized lending without liquidations; wallets; DeFi aggregators; interchain developer tooling; messaging; money markets; and an interchain name service.
So far, Axelar has provided idea-stage funding for over 50 projects through its grant program. Approximately 33% have gone on to raise seed or pre-seed financing.
The Axelar grant program is ongoing! We evaluate applications every two weeks. Share your idea with us, here.