Something magical is happening in the world of Bitcoin and DeFi! Velar, the decentralized exchange protocol, has whipped up a spellbinding concoction called the BTC Name Grant Program. This enchanting initiative supports the use of ‘dot-btc’ identities on Stacks, aiming to weave a safety net for on-chain transactions by minimizing errors and smoothing out interactions across the Bitcoin ecosystem.
But wait, there’s more! Velar’s also given its brand a striking blue and orange makeover, proving that even protocols need a fresh look from time to time. 🌟
Velar’s Grand Collaboration: Stacks, Ryder, and Arkadiko Join Forces! 🤝
Velar isn’t going it alone! They’ve teamed up with Stacks, Ryder, and Arkadiko, gathering over 6,000 STX (Stacks’ native token) to fuel this fantastical program. Participants can snag their .btc names through approved platforms like BNS ONE and BNS.Market, with STX reimbursements handled through Velar’s very own portal.
The BTC Name Grant Program is a crucial step in unifying the Stacks community and boosting its presence within the Bitcoin ecosystem. And guess what? Ecosystem leaders are positively beaming about this team effort!
Peter Watson, Velar’s CMO, praised the collaboration: “It’s fantastic to see various protocols and tokens coming together to strengthen the community.” Philip de Smedt, co-founder of StackingDAO, echoed the sentiment: “The Stacks community is embracing a newfound sense of identity, and this movement wouldn’t be possible without the entire ecosystem.”
BNS One: The Technical Wizardry Behind the Scenes! 🪄
The technical wizardry for the program is being handled by BNS ONE and BNS.Market, ensuring a smooth registration and management experience for .btc identities. Velar, which emerged in March 2023, introduced Dharma last year as its Automated Market Maker (AMM) to bring DeFi liquidity to the Bitcoin ecosystem. Fast forward to today, and Velar boasts over a hundred trading pairs!
Velar’s native token, VELAR, is on a roll, with a more than 6% increase in the last 24 hours and a market cap of $7 million. And if that’s not magical enough, VELAR’s trading volume has also jumped by over 13% in the past 24 hours! 🎆
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2025-01-30 20:10