Solana Labs Launches Incubator for Blockchain Project Development; Marinade Finance Bars UK Users
Summary:
Solana Labs has launched a new initiative, the "Solana Incubator", to support project development on its blockchain platform. The program offers assistance in areas such as fundraising, development, networking, and promotion, with applications open until November 30. In related news, UK users are now barred from signing up for Marinade Finance, the largest DeFi protocol on Solana, due to compliance concerns raised by the UK Finance Conduct Authority.
On October 26, Solana Labs launched a new initiative named "Solana Incubator", designed to encourage project development on the Solana blockchain platform. This program aims to provide extensive support in the fields of fundraising, development, networking and promotion for both existing and emerging projects leveraging the Solana ecosystem.
Those building web3 startups on Solana are now free to apply to the Solana Incubator, offering access to technical aid, market entry strategy guidance and fundraising support.
Applications will be accepted up until November 30, with successful applicants receiving ongoing assistance from the Solana Labs team and their partners throughout each stage of project realisation, from initial development through to marketing and launch.
Emon Motamedi, Product Manager at Solana Labs, highlighted the main objective of the Incubator program, which is to dissolve key challenges that startup founders currently face, including those related to web3 integrations and fundraising. The ultimate aim, he suggests, is to enable these teams to focus primarily on their unique strength: problem-solving for their users. In doing so, the hope is to attract more sustainable enterprises to the Solana ecosystem and to nurture growth within the web3 industry overall.
This information was announced through a press release on October 26. The article expanded on the program's benefits, stating that it also facilitates connections with leading VCs within the Solana Labs network, aiding startups in boosting their cash flow.
In a related update, Marinade Finance, the largest decentralized finance (DeFi) protocol on Solana, has begun barring UK users from signing up. As a response to the compliance concerns raised by the UK Finance Conduct Authority, the DeFi entity now prevents registration access to its platform for users based in the UK.
The UK's Financial Conduct Authority made an announcement on September 9 regarding impending regulations that would affect crypto firms, effective from October 8, with a compliance deadline set for January 8. Consequently, numerous crypto platforms have withdrawn their services from the UK market.
In another recent development, Solana has formed a partnership with the free zone ecosystem in Dubai.
Published At
10/26/2023 4:47:00 PM
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