Press Release: Velas is proud to announce the launch of a $5 million funding program to support the growth of the Velas ecosystem and expand our reach in the new Web 3.0 epoch

3rd August, 2021, Zug, Switzerland  – Today Velas are announcing the launch of a major funding program for projects to build upon the Velas Blockchain, driving innovation to the fastest blockchain on the planet — to the tune of $5 million total.

Velas are inviting projects and developers to join their ecosystem of user-friendly, transparent and privacy-respecting products built on top of the Velas blockchain. Just port code from Ethereum, or develop on their native chain, to deploy applications within minutes.

For full technical details on the Velas Funding Program, click HERE.

Investments – What Can Participants Submit?

Investment sizes can be up to $100,000 per project. The general Grant Program is designed to fund projects covering a wide range of topics, including, but not limited to:

• DeFi-related and DEX-related products
• NFT-related solutions
• Games and gaming – Including Educational, AI/VR/AR, Crypto Gamification, Strategies, Collectibles, Card Games, etc
• dApps that unite the Velas blockchain with traditional sectors — Banking, Healthcare, etc. 
• Adoption of dApps that aid the adoption of cryptocurrencies and blockchain.

Velas will also actively encourage developers to create solutions that increase decentralization and transparency within the Velas Ecosystem. All projects will be tracked on GitHub – Teams can apply for grants more than once, but they need to successfully complete their previously allocated project before receiving additional funds.

Investment Criteria

Interested in applying for the grant? Check out the investment criteria below: 

• Goal(s) and scope of the project, plus outline of how the fund will be used
• Business plan/whitepaper 
• Technical features and value proposition
• An executive summary and pitch deck
• Background and experience of the team
• Go to market strategy and user acquisition plan
• The project, timelines, targeted deliverables at each milestone, and estimated efforts to deliver on the plans provided
• How the project benefits the Velas ecosystem
• Amount of funding requested and payment method
• Project or product/ service must be built on the Velas blockchain
• All code must be open-source, and must not rely on closed-source software for full functionality. 

Velas take licensing and copyright compliance very seriously. Using others’ work without attribution or indicating that work is not original will lead to immediate termination. Users should contact Velas before submitting if they have any doubts about licensing matters.

Benefits

• Recruiting – Velas assists startups to hire Top Tier talent.

• Networking – Velas assists startups with connections to investors, funds and accelerators.

• Marketing – Velas assists startups in engaging with key exchanges, finding opinion leaders, and building viral marketing campaigns.

• Grants – Velas provides grants for the creation of new tools and projects.

• Technical – Velas’ experienced developers will assist with the technical side of startup projects.
• Research – Velas assists startups with all necessary research before going to market to explore new opportunities.

Applying for the Velas Grant

To apply for the Velas Grant Program, fill out an application form. Team applications should be submitted by one representative for the project, containing up-to-date contact information, experience, and the portfolio of all team members who would be involved in working on the task. Application forms will be reviewed within 14 working days and selection results will be sent to the email provided during the application. If a proposal is successful, further communication will be required to determine specific details around timelines and payment schedules. Feedback will occur throughout the grant process.

For further information and FAQs, please check out the official Velas docs page here.

Velas are proud to welcome innovative and exciting new projects, products and services to the Velas family, and welcome a massive expansion in the usecase of the Velas Blockchain, taking advantage of the best-in-class TPS, throughput, and developer support. The Velas Funding Program helps push the Velas Blockchain to be the most attractive, powerful chain in the entire crypto sector.

For full technical details on the Velas Funding Program, click HERE.

Media Contact Details

Contact Name: Shirly Valge

Contact Email: info@velas.com

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