Blockchain Italia is excited to announce its presence among the eleven startups selected for the Algorand Europe Accelerator program! Despite a dense roster of valid candidates and an acceptance rate of around 5%, Blockchain Italia has been selected by the Algorand Foundation, Borderless Capital and Eterna Capital and is fully among the only 11 startups in the program.
With its “Algolend” project it will be the only startup competing to deal with Lending, as well as the first in the world to have developed a protocol of this kind on Algorand. The project stems from the precise desire to respond to certain needs of the DeFi world, a protocol accessible to all because it is based on some peculiar characteristics of Algorand, namely a scalable blockchain, a rapid and predictable execution and finalization time, a fixed and efficient cost of on-chain transactions and a high level of security and decentralization. Algolend, a money-market algorithmic protocol that allows users to accrue interest on deposits and ask for loans in exchange for collateral, therefore aims to develop the DeFi ecosystem on the PPoS blockchain conceived by the Turing Silvio Micali award.
The Algorand Europe Accelerator program, which was launched on February 1st, will run for 12 weeks, and the selected projects will receive € 15,000 in start-up funding from Borderless Capital, end-to-end support for all strategy formulation, execution go-to-market and some guidelines on the subject.
“We are thrilled to have been selected by the Algorand Foundation. This decision confirms that the Algolend protocol can truly revolutionize the world of DeFi, making it accessible to all, democratic, economical and safe. We will make the most of this opportunity, taking everything we can to perfect and optimize our project! ”
Pietro Azzara, Co-founder and CEO of Blockchain Italia