With the Lightning Network now accessible to more than 150 million people around the world, the new venture from NYDIG's parent company will accelerate the development, deployment, and adoption of Lightning and Taro.
Stone Ridge Holdings Group ("Stone Ridge"), parent to leading bitcoin company NYDIG, today announced the launch of In Wolf's Clothing ("Wolf"), the first-ever startup accelerator dedicated to Lightning, a "layer 2" protocol built on top of Bitcoin.
With applications now open, the exclusively non-remote accelerator will serially bring cohorts of the best founders and startup teams from around the globe to New York City for eight weeks at a time to focus on the development, growth, and funding of companies building on Lightning. Transportation & accommodations for the duration of the program are included from anywhere in the world.
All accepted teams receive guaranteed investment of $250K, while one winner per cohort will be chosen to receive $750K.
Participants in the accelerator will have the opportunity to work with Wolf's full-time in-house advisors, world-class mentors from across the Bitcoin ecosystem, and experts from Stone Ridge & NYDIG across a wide range of topics including Bitcoin/Lightning/Taro, cryptography, regulation, engineering, marketing & branding, sales and more.
A group of long-time collaborators with Stone Ridge and NYDIG, including Bitcoin-focused VCs and well-known operating companies in Bitcoin, will also invest in Wolf and participate as mentors in the program.
"Over the past year, the Lightning Network has hit critical mass, and we expect that its growth will only further accelerate from here," said Kelly Brewster, CEO of Wolf. "That growth is ushering in a wave of innovation and development that will shape the future of decentralized finance. We are launching Wolf to empower the best founders and teams from around the world to build that future. If you have an idea, a proof-of-concept, or an early-stage business that touches Lightning, Wolf can help you build and scale."
The accelerator will accept companies building on Lightning Network and Taro across a broad range of themes. The program is open to founders and small startup teams from anywhere in the world, including pre-seed idea-stage individual founders up through early-stage companies ready for a Series A.
"Every once in a while, a technology breakthrough comes along and changes everything. That's Taro," said Ross Stevens, Founder and CEO of Stone Ridge and Founder and Executive Chairman of Wolf. "The progress in Lightning this year has been staggering, and the introduction of Taro is going to serve as a further accelerant for innovation and progress in Bitcoin. Wolf shines the Bitcoin Bat Signal in the sky: if you are a founder or startup team anywhere in the world who is passionate about Lightning, we want you. If you are willing to work tirelessly to make the world more decentralized, power more diffuse, and central planning a distant memory, join us."
The Lightning Network is a "layer 2" protocol built on top of Bitcoin. It enables cheap, instant payments between participating nodes that ultimately settle on the Bitcoin blockchain, building on the decentralization, security, and stability of Bitcoin to bring scalability and speed to the technology stack. Lightning, along with the Taro protocol and recent enhancements to the Bitcoin base layer, unlocks a diverse set of use cases for the Bitcoin network including micropayments, stablecoins, tokenized assets, covenants, and more.
Wolf is the first startup accelerator dedicated to Lightning. Fully non-remote and based in New York City, Wolf brings select groups of founders and teams, all focused on Lightning, together from around the world to build, iterate, and scale. Transportation and lodging are included from anywhere in the world, and all companies accepted receive guaranteed seed funding. During the program, participants can work alongside experts on Bitcoin, Lightning, Taro, cryptography, regulation, marketing, branding, finance, operations and more. The future of decentralized finance is being built today, and it's being built on Bitcoin and Lightning. Learn more at wolfnyc.com.