Another edition of the successful accelerator “Algorand Miami Accelerator” begins. A large number of projects have been presented in order to participate in AMA 2022. In this article we present the developments selected to be part of the program.
Algorand Miami Accelerator: an accelerator that fosters development
Algorand Miami Accelerator is the first bilingual accelerator that connects the countries of the American continent. Based in the city of Miami, a historic bridge between the USA and Latam, the program is not only limited to this region, thanks to its modality to participate in an open and virtual format. In this way, it seeks to promote the growth of emerging projects through mentoring and training sessions in various areas.
Also, the program allows projects to have exposure to investors, to obtain financing. Undoubtedly, this accelerator contributes to the growth of developments within the blockchain industry, thanks to the educational tools provided to participants, in order to be able to grow their developments.
New accelerator program edition
Algorand Miami Accelerator brings us a new edition of its accelerator program in 2022, which is of great importance for all projects that are in emerging phases.
The projects will have access to an initial investment of US$30,000 to encourage the commitment of startups, receive training and mentoring, in areas such as technology, products, marketing, financing, legal aspects and growth. In addition to this, developments have the potential to be supported by Algorand’s robust ecosystem and growing community.
Companies selected for AMA 2022
Having completed the preliminary phases, the 10 companies that will be participating in the program have already been selected. These projects are very interesting, since they develop various edges of the blockchain universe, granting diversity to the entire ecosystem. Without further ado, let’s take a closer look at each of them.
Aegir Tactics is a next generation strategy collectible card game (CCG), in the style of the world famous Magic: The Gathering and Hearthstone. Designed by the best players and trainers, Aegir Tactics aims to be the next generation of CCG. Game assets are backed on the Algorand blockchain, which are fully owned, and are just as collectible as physical cards.
Game-Fi’s tokenomics ensures reward payouts are fast and transparent. We believe that the innovations present in blockchain provide substantial improvements in the quality of life for a wide range of players and are key to breaking into this industry.
Team and social media:
Victor Shelstad – CEO, Game Design LinkedIn.
James Walker – CTO, Backend Engineer LinkedIn.
James McGee – Frontend Engineer LinkedIn.
Clarke Nobiletti – Advisor LinkedIn.
Krass Kollektiv – Art Studio Website.
Alammex creates solutions to defrag liquidity across the Algorand ecosystem, which is becoming a major issue for ASA trading.
There are 4 major exchanges (Tinyman, Pact, Algofi and Humble) and one major order book exchange (Algodex) within the Algorand ecosystem. The fragmentation of liquidity between exchanges results in higher prices for traders. Alammex offers trading solutions, providing access to unified liquidity across all Algorand exchanges, resulting in better prices.
To combat the problem described above, Alammex has developed a DEX aggregator that can effectively leverage all available liquidity on all exchanges present on Algorand for any asset trade. Alammex obtains quotes from all liquidity sources and uses an intelligent order routing algorithm to efficiently optimize transactions.
The company is also developing an arbitrage protocol to optimize prices for trading pairs that have low liquidity by atomic routing through intermediate trading pairs with higher liquidity. Alammex aims to provide the best trading opportunities for assets on the Algorand blockchain.
The founder of the company is Philip Gabardo (Founder/CEO).
If you want to know more about Alammex, please visit their website at www.alammex.com
Cometa is a sustainable liquidity aggregator on Algorand, combining liquidity as a service with DAO governance. Its mission is to help projects attract long-term liquidity, without having to relinquish ownership of their tokens, and to provide investors with a profitable investment instrument.
The exposure of an asset and the automatic protection against transitory losses make our solution the most sustainable to solve the liquidity problem.
Team: metapunks.world, winners of the “Algorand Innovative Hackathon”.
Daria (CEO), Valery (CTO), Nikita (CMO & Backend), Florian (Head of Marketing), Dmitrii (Lead Smart Contract Developer), Ksenia (UX/UI Designer), Roman (Advisor).
DAO Helper aims to provide a central, comprehensive and chain-independent platform for DAOs to seamlessly manage their operations by onboarding new members, engaging their communities, recruiting new talent by posting jobs and rewards. , and tokenized task management.
Decentralized Autonomous Organizations (DAOs) currently face numerous operational challenges: onboarding new members, managing talent and capital, engaging the community, determining member credibility, etc. , snapshots, web pages, etc. The lack of a centralized platform makes it difficult not only for DAOs to efficiently manage their operations, but also for DAO contributors to track their community activity in a meaningful way.
The overall vision of DAO Helper is to help decentralized communities prosper by enabling borderless cooperation of talent and capital.
DAO Helper provides a central platform where you can join multiple DAOs, get rewarded for your contributions, and create a resume that keeps track of your contributions across multiple DAOs. Currently, there are more than 300 people on the waiting list for their NFP token and 105 DAOs have signed up to use the “DAO Helper” platform.
Team: The founding members behind this project are Kashif Ali (CEO) and Samiullah Malik (CTO). Kashif is a 2x founder, having previously worked for Adobe.
Samiullah Malik has a graduate degree in aerospace engineering and currently works for a high frequency trading company as a software engineer.
FlexID is a layer two (L2) network solution built on the Algorand blockchain for the issuance, storage, and exchange of verified digital identity credentials within a decentralized technology architecture. The solution enables user-managed identities that integrate with existing systems, generate verifiable credentials with privilege-based access, and accelerated onboarding.
Additionally, FlexID also supports dynamic workflows that connect identities and credentials to business requirements with the overall scalable integrity of blockchain technology.
Team: Founded by CEO Victor Mapunga, FlexID’s founding team is rounded out by CTO Kudzaishe Zarare and COO Sanjay Mendis. The team operates from its headquarters in Singapore with regional offices in Zimbabwe and Sri Lanka.
Gunny is a third-person shooter E-sport (competitive) game based on the Algorand blockchain, incorporating NFT in a unique way. Absolutely all the items that exist in the game are NFTs: characters, skins, weapons, accessories, pets.
Gunny is meant to attract players who want to be the best as only the best can earn tokens. Gunny’s main objective is to have excellent playability and competitiveness in different game modes such as capturing the enemy crystal, free-for-all, team deathmatch, among others.
Through a matchmaking system, the game will be arranged with players of the same skill level. Players will have to strategically look for the type of weapon to use and its accessories, since these will modify the statistics of the selected weapon, both positively and negatively, let’s not forget the pets that will help players in battles with strategic abilities to win the game.
Team: Benitez Aquiles (CEO), Yandun Wilson (CTO).
Musii is a music-only social network (with over 20k users already), which gives emerging artists the chance to make a living from their music through the support of their fans and web3, where users can:
- Discover and share songs.
- Interact with people and find who has the same musical taste as you, plus you can follow them with a button to save songs directly to your Spotify playlist.
- Send DM to chat with interesting people.
- Includes trending topics tab to see what’s trending in the community.
- Browse the references and favorite artists of the musicians you like.
With Algorand Miami Accelerator, the startup will finish the development of the new features:
- NFT market for the sale of royalties.
- Integration with blockchain wallets.
- Payment system.
Rayo is a women-led initiative focused on the mission of providing access to secure key management to a population excluded from the financial system. The ED (Executive Director), Graciela, is a passionate entrepreneur who has dedicated her last 10 years to creating solutions for migrant workers.
In 2021, the amount of money that was transferred from the US to Latin American countries was 101 billion dollars and 66% of this amount goes directly to “things for the home”.
Migrant workers have relied heavily on cash until now. Stablecoins represent an opportunity for them to store value digitally for the first time, yet these types of assets remain disconnected from the real world.
Rayo develops technology to facilitate the self-custody of stablecoins and provides domestic as well as cross-border bridges to the real economy to facilitate the purchase of products and services. Rayo charges a fee when USDC is converted into other forms of value. Leveraging the user base, Rayo is developing a payment processing solution, collecting fees directly from merchants.
UpsideFinance is a gamified savings platform on Algorand that encourages users to save and potentially grow their crypto assets without exposing themselves to risk. The initial product is lossless lotteries linked to DeFi.
Replicating the lossless nature of prize-linked savings accounts in traditional finance, all users who deposit crypto assets into lotteries on UpsideFinance have a chance to win big rewards in the end. Even if they don’t win, they can still claim their initial deposit.
The lottery reward is generated from DeFi protocols. As users deposit their cryptocurrencies into lotteries, UpsideFinance supplies them to a yield-generating protocol, such as Algofi and Folks Finance. At the end of each lottery, the collective interest generated from the funds is awarded to one or several lucky winners, and the initial deposits are recovered from the DeFi protocol and returned to users who did not win.
Compared to DeFi staking and farming, UpsideFinance offers the potential for returns to a greater magnitude, without exposing users to downside risks.
Our goal is to offer more and more ways for our users to have an exponential growth in their savings; Lossless lotteries are just the beginning. We also want to ensure the growth of the prize pool we offer by bringing more money from outside of Algorand through the use of bridges. This will grow not only UpsideFinance but also the Algorand ecosystem as a whole. We look forward to establishing ourselves as one of the largest DeFi projects on Algorand in the coming years and leading the growth of the Algorand blockchain.
Most of the most popular Defi projects are currently on Ethereum. This includes Curve, AAVE, Convex, Yearn, Uniswap. These Defi platforms represent some of the most stable sources of returns, meaning users can earn fees and interest by providing liquidity or loans.
However, users who want to participate in these platforms face a significant fraction because the gas fee on Ethereum L1 is notoriously high. For most average users, the gas fees far outweigh the potential gain in throughput, preventing wider adoption of Defi.
At the same time, in a multi-chain world, more and more assets reside on different blockchains. For example, wrapped ETH exists in almost every major alternative L1. However, many of the alternative L1s do not have the same selection of performance options. This means that users have two non-ideal options: keep their asset in Ethereum to access yield opportunities, but potentially lose all their earnings from gas fees. Or keep your assets in an alternate L1, but miss out on performance opportunities.
xStake offers a solution to these two problems faced by average users by combining Algorand’s low fees and Wormhole cross-chain messaging platform, into a service that allows users to gain performance from Ethereum Defi protocols by taking advantage of Algorand’s low fees. . This makes it super simple (1 click) and cheap (pay only Algorand fees) while maintaining security through smart contracts.
Team: The founding team of xStaking consists of three members.
Steven Yin is a doctoral student in Operations Research at Columbia. His research focuses on theoretical machine learning and mechanism design. He previously interned at Hudson River Trading, Citadel and Amazon. When he’s not proving theorems or writing smart contracts, he can be found training for triathlon races.
Jason Yuan is a Princeton undergraduate majoring in computer science and applied mathematics. He previously interned at Amazon and Hudson River Trading. He has also done research in Topological Data Analysis and Federated Learning.
Nickolas Casalinuovo is a Princeton undergraduate majoring in Computer Science and Neuroscience. Nick is a founding research member of the Princeton Blockchain Society. His research focuses on the adoption of emerging technologies for companies and their practices.
Algorand Miami Accelerator gives the opportunity to startups to grow their projects. The AMA 2022 program has 10 selected startups, which develop different edges of the blockchain universe, taking advantage of the robust Algorand ecosystem, about which we will be bringing more news in the future.