Stone Ridge launches Wolf, a NYC startup accelerator dedicated to Lightning Network

Stone Ridge launches Wolf, a NYC startup accelerator dedicated to Lightning Network

Published: 27-10-2022 12:00:00 | By: Pie Kamau | hits: 4040 | Tags:

Stone Ridge, a parent to bitcoin company NYDIG, 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.

Kelly Brewster, CEO, Wolf: "Over the past year, the Lightning Network has hit critical mass, and we expect that its growth will only further accelerate from here. 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 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.

Ross Stevens, Founder and CEO, Stone Ridge and Founder and Executive Chairman, Wolf: "Every once in a while, a technology breakthrough comes along and changes everything. That's Taro. 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.

Interested startups can apply here.