The DFINITY Foundation (DFINITY), a Swiss not-for-profit research and development organization, and a prominent contributor to the Internet Computer Protocol (ICP) blockchain, has unveiled Olympus. This groundbreaking platform marks the inception of the first decentralized, on-chain global acceleration platform.
Unified Support for Web3 Ventures
Olympus offers a unified platform for launching Web3 products, encompassing grants, crowdfunding, venture capital (VC) investments, and networking opportunities, all within the blockchain. With a global footprint spanning over 40 countries, the platform facilitates project applications, funding, talent acquisition, and cross-community collaborations. It fosters transparency in investment, granting early access to vetted projects for investors.
Financial Backing and Support
DFINITY and the ICP Asia Alliance have provided an initial $15 million grant to support Olympus’s initial operations. This funding will drive the first series of Web3 startup accelerator programs. ISLA Camp (ICP Hub Philippines) will spearhead these initiatives locally, nurturing Filipino-led Web3 projects and propelling them onto the global stage.
Empowering Filipino Entrepreneurs
Nelson Lumbres, Co-founder of ISLA Camp (ICP Hub Philippines), emphasized Olympus’s role in providing global exposure for Filipino Web3 projects and entrepreneurs. ISLA Camp aims to identify, nurture, and elevate high-potential Filipino Web3 projects, leveraging Olympus’s opportunities.
Mentorship and Investment Opportunities
Filipino Web3 startups and entrepreneurs participating in Olympus gain access to mentorship and deal flows from renowned venture capital investors, including Fenbushi Capital, Fundamental Labs, Softbank Vision Fund, and others. This collaboration aims to foster decentralization, innovation, and entrepreneurship within the Web3 ecosystem.
Vision for Decentralized Growth
Dominic Williams, Founder and Chief Scientist of the DFINITY Foundation, expressed excitement about Olympus’s potential to drive decentralized growth and innovation. The platform is poised to witness the emergence of the next generation of projects on the Internet Computer and other ecosystems.
Transition to Decentralized Autonomous Organization (DAO)
By the end of 2024, Olympus will evolve into a decentralized autonomous organization (DAO). This transition aims to ensure its independence and sustainability. Funding will be secured through a native token generation event (TGE) followed by community-led fundraising, enabling active participation from all stakeholders in Olympus’s success.
In summary, Olympus represents a pivotal milestone in the Web3 landscape, providing a comprehensive platform to nurture and accelerate innovative projects globally. With a focus on decentralization, transparency, and inclusivity, Olympus is poised to shape the future of entrepreneurship and innovation in the decentralized era.
