Magma, organized by Borderless, is a residency program designed for African founders. It aims to provide support to top founders who are building real crypto utilities best suited for the African market. This two-week, in-person event being held in Kenya commenced on March 3rd and will conclude on March 15th, 2024.

The vision and aim for the residency program is to develop collaboration between Founders and lead top crypto talents to Africa. Magma is best suited for founders whose projects have transcended ideation stage, are built for African market, valuable, and interoperable.

These founders will engage in numerous activities during the duration of the program which includes, peer to peer learning, demo workshops, fireside chat, mentorship and feedback sessions.

Also, create opportunities for founders to seek investments, grants, and access to top VC networks. The residency program would register attendance from members of Ethereum foundation, Layer 2s, Token economics designers and other global protocols members.

Borderless, the pioneer behind Magma, founded by Yoseph Ayele, is a public good initiative with the motive of building a borderless internet for Africa. This means emancipating Africa from border restriction, which could be in the form of physical structures or different currencies, thereby allowing the free exchange of value and services.

“In fact, an open, permissionless, and decentralized internet is the best platform to place Africans at the forefront of progress. We have unmatched scale, strong grit, and the context to build highly advanced economies with frontier technologies” _Borderless

As the Magma Residency Program concludes on the 15th, we are optimistic that the outcome will yield founders with the grit, resources, and clear vision necessary to build web3 products tailored to the African market.