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Velas introduces its $250M fund & accelerator program

Velas strives to accelerate the network infrastructure development of Web3 through its $100 million value grant program. They are looking to attract ambitious teams to join the efficient, scalable, EVM-compatible Velas ecosystem.

Summary:

  • Velas has set up a $100 million grant program to incubate promising blockchain projects and facilitate its ecosystem expansion.
  • Developers can enjoy myriad benefits by joining the Velas Grant Program.
  • To successfully apply for the program, developers must meet specific criteria and follow the steps outlined.

Dive into the Velas ecosystem for developers and entrepreneurs

Velas has the potential to be a transformative technology that offers efficient, scalable, and cost-effective infrastructure for Web3. To achieve such a vision, Velas inherits Solana’s best technical DNA and provides an EVM-compatible solution. As a result, the blockchain platform enables developers to kick off their projects quickly, reaching a large number of users at low costs. 

Velas has more than 70 projects in the pipeline. Fifteen of them are already live. Notably, these numbers keep growing. Projects that enriched Velas’ dynamic ecosystem include BitOrbit, a decentralized messenger and social network, Cook.Finance, a cross-chain asset management platform, IQONIQ, a revolutionary fan engagement system, etc.

Various newer public blockchain platforms are joining the competition for users and developers, so what makes Velas unique among different blockchain solutions?

First, Velas supports Solidity and therefore allows all smart contracts built on the Ethereum blockchain to be executed on Velas effortlessly. Moreover, Velas supports Web3 libraries of both Solana and Ethereum. Developers can quickly deploy existing products from Solana and Ethereum on Velas with minimal change.

What’s more, Velas’ streamlined deployment process delivers fantastic results. For example, transactions on Velas only cost users about $0.00001. Velas also boasts of handling high throughput, efficiently achieving over 50,000 transactions per second.

The Velas Grant Program

The Velas $100 Million Grants Program allows developers to put their brilliant ideas into practice as soon as possible. Each project has the opportunity to receive up to $100,000. On top of that, the chosen teams can obtain all the resources necessary to support the project’s rapid growth.

The program is designed to fund projects covering a wide range of topics, including but not limited to:

  • Projects focus on the DeFi area
  • DEX-related products
  • Solutions focus on the NFT area
  • Blockchain-supported video games 
  • Dapps that leverage the Velas blockchain to revolutionize traditional sectors, such as banking, healthcare, manufacturing, etc.
  • solutions that accelerate the mass adoption of cryptocurrencies and blockchain
  • solutions that improve decentralization and transparency of the Velas ecosystem 

Documentation and materials required

Every eligible project must be built on the Velas blockchain, and applicants need to ensure they have prepared the following materials properly:

  • The project’s goal and scope
  • Business plan/whitepaper
  • Technical features and value proposition
  • Background and experience of the team
  • Go-to-market strategy and user acquisition plan
  • Timeline of the project, target deliverables at each milestone, efforts estimation
  • The amount of funding requested and payment method
  • How the project benefits the Velas ecosystem
  • An executive summary and a pitch deck

All code must be open-source. Reliance on closed-source software for full functionality is considered disqualified.

A step-by-step application guideline 

  1. To participate in the grant program, fill out the application form.
  2. Team applications are submitted by one representative, containing contact information, experience, and portfolio of all team members working on the task.
  3. The review process for the application will take 14 working days and Velas will send out the selection result to the email specified in the application.
  4. If an application is successful, further communication will be required to determine specific details around timelines and payment schedules.
  5. Feedback will occur throughout the grant process. 

Marketing support

Selected projects will have the opportunity to enjoy essential marketing support from Velas for free or turn to Velas’ extensive partnership network for paid campaigns. These marketing activities will help the teams gain traction and investment quickly through exposure to over 300,000 audiences, collaborating with opinion leaders, and running viral marketing campaigns.

IDO supports

Velas’ vast partner network can benefit start-up teams to achieve project milestones quickly. This will support projects to build strong links with major exchanges, investors, funds, and other accelerators. Therefore, promising projects will be able to achieve IDO smoothly.

Velas will introduce its Crypto Fund & Accelerator this year

Entering the second quarter of 2022, Velas is more confident and ambitious than ever when it comes to expanding the network. The $250 million value Crypto Fund and Accelerator program is around the corner to further pump up the ecosystem expansion. The accelerator program will last up to three months, with a minimum investment possibly reaching $25,000. In addition, the program will provide all participants with professional assistance, including mentorship, development support, marketing support, etc.

Final words

The Velas Grant Program invites whoever has the ambition to make a splash in the blockchain field and enrich the Velas ecosystem with brilliant ideas. If applicants have any doubts or questions about this program, the Velas team will be happy to help. 

Reach the Velas team and find out more details through the following channels:

Website

Whitepaper

Grants Program

Facebook

LinkedIn

Twitter

Telegram Announcement

Telegram Community

Instagram

Discord

YouTube

Medium

Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.

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