Polkadot Hub is about to launch: Polkadot introduces a 12-week DeFi accelerator, with only 5 spots available in the first batch!

As the most significant upgrade in the Polkadot ecosystem, Polkadot Hub, is about to launch, Velocity Labs, together with Parity, the Web3 Foundation, and other ecosystem partners, has introduced the DeFi Builders Program—a 12-week accelerator. This program not only provides mentorship, funding and liquidity support, talent resources, and marketing, but will also showcase outstanding teams to the Polkadot community and a broader stage through a Demo Day.

This program will initially accept only 5 teams, aiming to support truly unique and innovative DeFi projects: from perpetual contracts, DEXs, stablecoin innovations to RWA applications, all are key focus areas. Whether you are a new team that has just finished your whitepaper, already have an MVP, or even have built on other chains, as long as you can leverage Polkadot’s technical advantages, you are eligible to apply.

For developers, Polkadot’s appeal is not only in its strong financial support (foundation, treasury, bounties) and large community, but also in the technical breakthroughs of the Hub: unified system functions, open EVM smart contract deployment, and powerful scalability and security. The DeFi Builders Program will also address the most pressing issue—liquidity onboarding—helping teams gain deep market and user support right from launch.

The application window is now open, with the deadline on October 3rd. Competition is fierce, so interested teams are advised to apply as soon as possible.

For more information about the program, keep reading below!

Polkadot Hub Expected to Fully Launch in January Next Year

ET: Hello everyone, welcome to the Polkadot livestream. Today, we are honored to have Nico and Jonny from Velocity Labs. We’re here to talk about something very valuable and much needed in the Polkadot ecosystem—a program to accelerate DeFi application developers’ integration into Polkadot, namely the DeFi Builders Program.

In this program, we provide mentorship, funding, liquidity, successful project launch strategies, and even help with recruitment and marketing. Let’s start with the core question, Nico: why now? And it seems to be related to Polkadot Hub. Can you first tell us what Polkadot Hub is and its relationship to this program?

Nico: Of course. First, thank you Evan for the invitation, I’m glad to be here. Let me start with the Hub, as it’s a key catalyst for the DeFi Builders Program. For those less familiar with Polkadot, the Hub is one of the largest upgrades to date, mainly including two core parts:

First, unifying Polkadot’s system functions. Previously, many functions were scattered across different chains, such as staking on one chain, user chains on another, assets and cross-chain bridges on others. Now, we’re integrating these core functions onto a single chain—Polkadot Hub. This will include the DOT token, staking, governance, cross-chain bridges, etc. The main benefit is improving both user and developer experience.

Second, enabling permissionless smart contract deployment. We will allow Polkadot Hub to support open smart contract deployment and EVM compatibility. This is the first time developers can directly deploy Solidity smart contracts on Polkadot. Previously, these features could only be achieved through certain parachains, but now they can be deployed directly on Polkadot itself, allowing developers to more directly access Polkadot ecosystem support, such as foundation grants, treasury funds, and various ecosystem partners that have emerged over the past few years.

ET: That’s great! Having things scattered across different chains is indeed unfriendly for newcomers. Integrating everything will definitely improve network usability. What about the timeline? I heard you’ve already launched some features on Polkadot’s canary network, Kusama. When is Polkadot Hub expected to officially launch? I heard it might be in Q4 this year—is that still accurate?

Nico: That’s right. Developers can follow our latest progress on the forum, where we update in real time. According to the current schedule, an EVM-supported version will be launched on the testnet in September, which is coming soon. The next goal is to launch on the Polkadot mainnet by the end of the year. However, since December is usually a “quiet” month, the large-scale public launch may be moved to January next year.

Velocity Labs: From Behind-the-Scenes Infrastructure to Driving the DeFi Builders Program 

ET: It’s indeed not a good idea to launch new things during the holidays. So, you’re from Velocity Labs—can you introduce the role you play in the Polkadot ecosystem? I know you’ve done a lot of behind-the-scenes work, like helping with stablecoin and centralized exchange integrations, but perhaps haven’t received enough attention and recognition. So, can you talk about Velocity Labs’ mission and why you founded it?

Nico: Sure. Let me start with the original intention. Before founding Velocity, I was the DeFi lead at Parity Technologies, the core development company behind the Polkadot protocol. At that time, we tried to promote DeFi business expansion and infrastructure construction within Parity, but it was difficult to push these things forward in a large company. Later, Parity launched a decentralization strategy, which gave us the opportunity to continue contributing to Polkadot as an independent company.

At that time, we found a missing role in the ecosystem—one that could connect developers with Parity and the foundation, while being more flexible and focused on a specific niche. So, we chose DeFi and infrastructure, as these were Polkadot’s most obvious shortcomings. Since then, we’ve focused on filling the so-called “infrastructure gap.”

Due to Polkadot’s complex architecture and previous lack of EVM compatibility, developers faced many barriers, so we promoted work on oracles, cross-chain bridges, centralized exchange integration, and direct stablecoin entry and exit for Polkadot. Although these seem behind the scenes, they have actually made Polkadot an ideal platform for Web3 applications.

Over the past year, we mainly solved infrastructure issues and filled major gaps. Now, we’re shifting our focus to the application layer. Gavin has always emphasized that Polkadot needs more applications and real use cases, so today’s launch of the DeFi Builders Program is our new initiative to drive application layer development.

ET: That’s fantastic, thank you for your efforts, because this work is truly critical. Infrastructure is like the foundation—you have to build it first to bring liquidity into the ecosystem and truly drive application usage, so this is a great first step. Now, it seems we’re entering the second stage. Next, I’d like to talk about the Builders Program, but before that, Jonny, could you briefly introduce yourself and your role at Velocity Labs?

Jonny: Sure, thanks for having me. I’m the Head of Business Development at Velocity Labs, mainly responsible for infrastructure integration, especially preparing for the upcoming Polkadot Hub and EVM chain. I also participate in application layer initiatives. I joined the team about six months ago and am now mainly focused on the overall design of the DeFi Builders Program.

The Polkadot ecosystem actually has a lot of resources, but lacks a unified, comprehensive project to bring these resources together and make them attractive and accessible to developers. So, our plan is to take a cohort-based approach. The first batch will be very streamlined, selecting only five teams. The core goal is to attract true innovators who can leverage Polkadot’s uniqueness to create new products.

The project cycle is 12 weeks, somewhat like a startup accelerator. Of course, we welcome teams at different stages:

• One type is teams with a minimum viable product (MVP), which could be new teams just starting out or teams with new ideas;
• The other type is teams further along in development.

When screening, we focus on two things: first, the uniqueness of the product’s functions; second, what unique use cases the team can create within the Polkadot ecosystem.

Additionally, we’ve surveyed developers’ needs in advance—what do you value most? What resources do you need? The entire program structure is designed around these needs, so we cover everything from technical support to funding and liquidity support.

DeFi Builders Program: 12-Week Intensive Bootcamp 

ET: Sounds comprehensive, basically preparing everything developers need to really use the Hub for DeFi. Nico, let’s come back to you. Can you talk in more detail about the program?

Nico: Yes, as Jonny said, this is a cohort-based program.

• For the first batch, we’ll select five teams, with a 12-week, tightly scheduled cycle.
• The project is remote, and developers worldwide can apply.
• Each week will focus on a specific stage of the development cycle. The specific arrangements include:

• Group workshops with all five teams, such as having engineers from Parity or Papermoon help solve technical issues one week;
• Another week, we or ecosystem partners will provide training on marketing and user growth;
• Some sessions will invite VCs to share fundraising experience, such as how to pitch, how to tell your product story, etc.

So, it will be an intensive 12-week bootcamp, ending with a Demo Day. Each team will need to present a working MVP product. On Demo Day, we’ll invite VCs from inside and outside Polkadot to watch their presentations and give feedback. Ideally, teams will not only receive support during the program but also continue to get resources and funding afterward.

ET: How large is the funding support? For example, can a team go full-time, or is it more like “side project support” for existing teams? Please elaborate on the current funding situation.

Nico: That’s a good question, and it’s hard to give a fixed amount. The reason is our funding sources are diverse, mainly threefold:

The first is the Polkadot Treasury. We currently operate a fund called the “DeFi Infrastructure and Tools Bounty.” Previously, it mainly supported infrastructure and tool development, but now we’re pushing to shift it more toward application layer support through referenda.

The second is the Web3 Foundation’s strategic grant program. This also has no fixed upper limit, depending on the project’s scale and impact, and is basically enough for teams to seriously turn their ideas into viable products.

The third is venture capital (VC). Of course, we can’t guarantee this, but one of the purposes of this program is to put teams in the best position to secure VC investment after 12 weeks and turn their ideas into real companies.

First Batch Focus: Perpetual Contracts, DEX, RWA, Stablecoin Innovation 

ET: Awesome. DeFi is a very broad concept, covering many different directions. What types of projects do you specifically hope to attract? For example, teams focused on perpetual contracts? Or teams working on real-world assets (RWA)?

Jonny: Actually, we’re interested in all the directions you just mentioned. For example, perpetual contracts are a very important future track, and Polkadot’s scalability and performance advantages allow developers to get ahead here.

Then there are the familiar DEXs and money markets, which are the core infrastructure of DeFi and indispensable in the ecosystem.

And stablecoins—they have become the driving force of the entire market. So, if someone can innovate around stablecoins, such as exploring unique application scenarios in regions like Latin America, Asia, or Africa, that would be a very valuable direction.

Of course, we won’t set artificial limits, since the entire program will be conducted in English, so good English communication skills will help, but there are few restrictions on region or project type.

In addition to what was mentioned, we’re also interested in innovations at the product abstraction layer and RWA applications. Even if a team’s project isn’t in the listed directions, as long as it brings value to lending markets, DEXs, or RWA, it’s very welcome. Whether you’re a team that just finished your whitepaper, have an MVP, or are already in late-stage development, you can apply.

Nico: We don’t want to box in developers’ creativity, just provide some references. What we value most in projects are uniqueness and real-world application scenarios.

For example, money markets are indeed DeFi infrastructure, but there are many ways to implement them. If it’s just a simple fork of Aave, that’s not what we want to support. But if someone can optimize liquidation mechanisms, improve capital efficiency, or lower the barrier for non-crypto users, those are great directions for innovation. There’s still a lot of room to explore in existing DeFi base modules, and developers’ unique thinking in this area will be a key consideration for us.

ET: Got it. So, your initial target applicants could be teams with products or ideas in external ecosystems, since the Hub’s EVM compatibility allows them to easily migrate to Polkadot; or they could be internal Polkadot teams, right?

Jonny: Yes, both types are welcome. As Nico mentioned, if someone just wants to copy Aave, Curve, or Uniswap, we won’t prioritize them. Of course, we also welcome internal Polkadot developers, who are more familiar with the network and ecosystem, which is an advantage. But we’re more interested in attracting truly innovative teams, such as those making unique optimizations in money markets, exploring new clearing methods on DEXs, or integrating yields in new ways. So, for the first cohort, our main focus is innovation.

Nico: We’re open to everyone, whether from within or outside the Polkadot ecosystem. One of the Hub’s goals is to expand the pie and bring in new developers. Naturally, since we value “uniqueness” and “application scenarios” so much, internal Polkadot developers may have an edge, as they better understand the Hub’s technical advantages and how to leverage EVM. But overall, we welcome developers from all backgrounds.

Why Build on Polkadot? 

ET: Why should a developer choose to build on Polkadot? Can you give three reasons?

I can give two I thought of. First, Polkadot has many funding sources—such as the Web3 Foundation, a well-funded treasury, and various bounty programs; second, Polkadot has a large and active community, all eagerly awaiting new applications. Those are two reasons I can think of—what else do you think? For example, are there unique protocol architecture advantages?

Nico: From a broader perspective, attracting developers is usually the result of multiple factors—it can’t rely solely on technical advantages or just funding. Take Base as an example: technically, it’s almost identical to OP Stack or Arbitrum, but why are there such big differences in the number of applications, TVL, and success metrics? The reason is that Coinbase provides excellent distribution channels and platform support.

So, we must work on both fronts:

• On developer support, we differentiate through the DeFi Builders Program. We’ve talked to many developers, asked them “what factors determine your project’s success,” and integrated this feedback into a comprehensive program. So, the Builders Program itself is a major value we offer developers.
• On technical advantages, Polkadot Hub is not a “regular EVM”—it has many unique architectural features. If developers are creative enough, they can turn these into product advantages. For example: you can combine Solidity smart contracts with Rust, C++, Ink!, and other languages that compile to PVM, bringing stronger performance and more possibilities; you’re not limited to EVM and Solidity; and you can enjoy the benefits of Polkadot’s underlying architecture, such as scalability, decentralization, security, and elastic scaling.

ET: That’s great—core time, elastic scaling, and $3 billion in network security, these are all advantages of developing on Polkadot. What I especially like is that before designing this program, you talked to developers and asked, “What will make your project succeed?” I often hear feedback that developers care a lot about liquidity when launching their projects. First, what exactly does “getting liquidity at launch” mean? How will your program solve this problem?

Jonny: That’s a key point. To echo what you said, one reason to choose Polkadot is—it has a mature ecosystem and passionate community, and the resources are ready for larger-scale use.

Back to the liquidity issue: in DeFi, you can build a great product, but without liquidity, users can’t really use it. Especially if you want deep markets that support large trades and attract both small users and professional whales, liquidity is absolutely core.

Our unique advantage in the ecosystem is that, through this program, successful teams can directly receive liquidity support from ecosystem partners and funds at launch. This is very important for developers, as they no longer have to worry about “where to find liquidity and users after launch.”

Many teams are good at technology and building innovative products, but face challenges with marketing and liquidity onboarding. We hope that, through liquidity support and precise incentive plans, we can help them attract users and quickly boost TVL. This way, teams in the program will be in a very competitive position from the start.

ET: This also shows another advantage of building on Polkadot—getting ready-made liquidity at the start. So, if I’m a developer, whether I just have an idea or my team already has an MVP or working prototype, is your program equally suitable for teams at different stages? Or is it only for early-stage teams? Or can you accept developers at any stage?

Jonny: As mentioned before, the program is very flexible. Whether you’re a team with just an idea and no code, have an MVP, or already have a user base on another chain, we’ll consider you. As long as your idea brings value to Polkadot’s DeFi ecosystem, you’re welcome to join. Of course, when screening, we’ll pay special attention to the project’s uniqueness and how it leverages Polkadot’s technical advantages.

Nico: We’ll announce more detailed program content closer to launch. Overall, it’s divided into two forms:

• Group sessions: all five teams participate together, such as workshops or office hours hosted by Velocity, liquidity partners, Distractive, or Papermoon;
• One-on-one mentoring: this is the program’s focus, providing more targeted support based on each team’s stage. For example, a more mature team may not need marketing courses, but we’ll provide more relevant guidance in one-on-one sessions.

So, the program is designed to be highly flexible and cover as many types of developers as possible. With subsequent second and third cohorts, we’ll continue to summarize which types of teams are most successful and further optimize and focus support on those teams.

ET: When will this first cohort end?

Nico: The plan is to start around mid-October. Of course, this depends on the applications we receive and the review process. Applications are open from today, and if we start in mid-October, the program will end 12 weeks later.

Mentors, VCs, Talent Pool: The 12-Week Growth Path of the DeFi Builders Program 

ET: We just mentioned hot tracks like RWA and stablecoins. What other new trends do you see in DeFi? Maybe they’re still early, but could become mainstream in the next year?

Nico: Absolutely. There are some interesting new trends emerging in DeFi right now.

• One is the combination of DeFi and AI. At first, people just used AI bots to issue tokens, which looked more like “AI + Meme” play. But now it’s evolving into a more serious direction: teams are exploring how to use AI to optimize and automate on-chain capital allocation and deployment. There are many applications worth trying in this area.
• Another is RWA (real-world assets). Strictly speaking, this isn’t a new concept—Centrifuge was one of the earliest projects to push this direction. But in the past few quarters, this track has really exploded, and RWA issuance data has soared. The key question now is: since we already have the infrastructure to issue these assets on-chain, what new use cases can we create? Where can on-chain advantages really shine? So, we’re also very excited to see teams building applications in this direction.

ET: Okay, back to the application process: the first two weeks are onboarding, weeks 3-8 are mentorship and product development, weeks 9-11 are go-to-market, and the final week 12 is an online Demo Day. Is that roughly the plan?

Jonny: Yes! Our website currently only shows a general framework, but there are many details in each stage. As Nico mentioned earlier, we’ll invite ecosystem partners like Papermoon, Parity, Wave Digital, Distractive, Hypernative, etc., to fully leverage their expertise and resources to provide targeted support for each team. This is key—whether early or later-stage teams, through this program, teams can directly access:

• Institutional funders (funds managing hundreds of millions of dollars),
• Top development teams (such as Parity and Papermoon, with very experienced teams).

These resources are extremely valuable for both early and advanced teams.

Nico: It’s not just about recruitment, but also actual product development. PBA graduates here can not only find job opportunities but also truly apply what they’ve learned to project building. This is a great connection channel for both teams and talent.

ET: I’d like to ask, what is the format of the whole project? Is it like a class on Zoom for everyone? Or is it more one-on-one and asynchronous? Also, how much time do participants need to invest each week?

Jonny: The format is a combination of one-on-one mentoring and group sessions.

• One-on-one: We’ll connect with each team individually to help them plan their product roadmap, design tokenomics, set milestones, and check progress.
• Group sessions: For example, webinars where partners teach or share experiences with all five teams.

The time commitment will be adjusted based on each team’s situation, and we’ll announce a clearer schedule in the coming weeks.

Nico: Whether it’s our one-on-one communication with teams or partners sharing with all five teams, these will take some time, but won’t be the main focus for teams. We want teams to spend most of their energy on product development. At the start of the project, we’ll set clear milestones with the teams and strictly enforce them. These milestones are not only progress goals but also the basis for unlocking funding. So, teams should spend most of their time developing products to ensure they meet these milestones.

DeFi Builders Program Applications Officially Open: Only 5 Spots, Deadline October 3rd! 

ET: Great, let’s talk about the next steps for teams or developers interested in joining—the application process.

Can you describe what the application form looks like? What questions does it ask? Is there an interview stage? Also, everyone cares most about this: you emphasize “uniqueness”—how is that reflected in the application process? How long does it take to get feedback? If not selected, will teams be notified?

Jonny: Absolutely, we’ll try to reply to teams within a day or two of receiving their application. Of course, if we really get thousands of applications, that’s a “happy problem,” so please understand we have a lot to process.

This application window runs from September 3rd to October 3rd. After that, we’ll take about two weeks to screen and prepare, and then the program can officially begin. In any case, we’ll do our best to respond quickly. Whether or not you make it to the interview stage, we’ll try to contact teams—it’s basic respect.

Nico: Yes, the application form is the first screening step. The questions are straightforward, mostly open-ended, which is the opportunity for developers to showcase their “uniqueness.” They need to explain their ideas, the product they want to develop, and why.

For example, if asked “What are you building?”—some may just answer “We’re building a DEX,” but others might say “We’re building a DEX platform using PVM for privacy swaps.” The latter clearly shows more creativity and depth. So, the first step is to submit the application form, we’ll review the quality of the answers, and then decide whether to move to the interview stage. Finally, we’ll select 5 teams from those who pass the interview.

Jonny: I have a few more notes for everyone:

• The application form is already online and can be submitted now.
• We’ve started reviewing applications and will publish announcements and blogs with more details in the coming days. You can check the official website—the link is already available.
• The application deadline is October 3rd.
• The first cohort is a 12-week program.
• One requirement: core team members must be able to participate in courses and communication in English.

So, everything is ready—submit your application now, we’re very much looking forward to your work.

Nico: I’d like to add one last point: this is not just about a program, but about the current state and opportunity of the entire ecosystem. Velocity’s mission is to make Polkadot the best Web3 platform for building DeFi applications.

We see a dual opportunity for developers:

• On one hand, Polkadot is already a very mature ecosystem—with a market cap of $5-6 billion, and a stable, scalable, reliable underlying architecture.
• On the other hand, the DeFi ecosystem’s visibility is still not high. Frankly, when people think of DeFi now, Polkadot isn’t the first thing that comes to mind. Although Hydration has done an excellent job, building a successful product against the odds, overall, Polkadot is not yet the “first choice for DeFi.”

This is what we want to change. We hope to combine Polkadot’s mature infrastructure and strong resources with this program, so more developers realize that Polkadot is one of the best choices for building DeFi. So, I want to encourage all developers: don’t overlook Polkadot, check out our program, and talk to us. Whether you need guidance during the application process or just want to learn more, we’re happy to communicate. We truly believe there’s a huge opportunity here.

ET: Polkadot’s goal is to become the best platform for building and using DeFi, and this program is completely free, with only 5 spots, so competition will be very intense. We strongly recommend everyone apply as soon as possible. The application link is here: