The DFINITY Foundation, a Swiss-based nonprofit behind the Internet Computer blockchain, has announced the debut of the Olympus Acceleration Platform.

With $15 million in funding and extensive mentorship support from a range of investors, this initiative marks the inception of the first decentralised, on-chain web3 accelerator.

Aimed at fostering innovation in the web3 space, Olympus enables global teams to efficiently organise and kickstart their accelerator programs.

Unlike traditional accelerators, Olympus boasts an "Open Stake" model, which promotes an environment of unrestricted interaction between projects, mentors, and investors.

This model encourages a permissionless ecosystem, allowing for seamless integration and inclusivity in the web3 community, distinguishing Olympus distinctly from its counterparts in the field.