[ANN] Velas has significantly expanded the grants program to $100M USD 💸💸

Switzerland-based technology company Velas has allocated $100 million to startups building on top of the Velas blockchain, marking a sizable increase from its initial pledge of $5 million earlier this year.

The grants program is designed to support the growth of the Velas ecosystem and expand its capabilities within Web 3.0, a broad umbrella term that describes the next stage in the internet’s evolution. Like the initial $5 million grants program announced in August, the new funding initiative will allocate up to $100,000 per project. While Velas intends to fund a wide range of projects, developers who are creating solutions for DeFi, decentralized exchanges, nonfungible tokens and gaming will be given priority.

To apply for the grant, startups must include a business plan, pitch deck, technical specifications for their product, project timeline and an explanation for how their project will benefit the Velas ecosystem. Developers selected for the program will receive networking, marking and technical support from the Velas team.

Velas is an open-source blockchain network that seeks to combine the best features of centralized and decentralized solutions. The company overseeing the protocol is based in the Swiss canton of Zug, which is also known as Crypto Valley for its role in accommodating and supporting blockchain innovation.

Velas Advantages

Solidity Support - Supports all smart contracts built on the Ethereum Blockchain.

Support of different Web3 Libraries - We support Web3 libraries of both Solana and Ethereum.
Ethereum Web3 (metamask) and Solana Web3 support - Developers can easily deploy existing open source products from Solana and Ethereum on Velas with minimal yet valuable change.

Low-cost Transactions - Extremely efficient performance at a fraction of the cost ~0.000001$.
Scalability - Transfer tokens directly between accounts with 50,000+ TPS throughput, with that figure not being a hard limit.
Developer Support Program - Receive grants to build on Velas alongside marketing and fundraising support.
Composable - Never deal with multiple shards or layer 2 systems.

Blockchain that eases life — built by developers, for developers.

Investments

Investment size could be up to $100,000 per project. The general investment 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;

Educational - games that ease entrance for those not familiar with blockchain technology or background
Innovative games uniting blockchain and cryptocurrencies with AI, VR/AR and other high-tech domains. We will support teams and developers who are more experienced in high-tech domains with their development on blockchain.
Crypto gamification
Other games (strategies, collectibles, card games, etc)

dApps that unite the Velas blockchain with traditional sectors - Banking, Healthcare, Manufacturing, etc. We support teams from different domains who use blockchain to solve real business problems
Adoption of dApps - solutions that aid the adoption of cryptocurrencies and blockchain on a wide scale.

We also will actively encourage developers on creating solutions that increase decentralization and transparency of the Velas Ecosystem - possibly additional funding via ecosystem fund.

All projects will be tracked on GitHub. Teams can apply for grants more than once, but they need to successfully complete the previous project before receiving additional funds.

Benefits

Recruiting

We assist startups to hire top tier talent (engineers, community builders, business developers).

Networking

We assist startups with connections to investors, funds and accelerators.

Marketing

We assist startups in engaging with the key exchanges, find opinion leaders, and build viral marketing campaigns.

Grants

We provide grants for the creation of new tools and projects to increase the utility of Velas.

Technical

Our experienced developers will assist with the technical side of the startup projects.

Research

We assist startups with all necessary research before going to market to explore new opportunities.

Investment Criteria

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

All code produced as part of a grant must be open-sourced, and it must also not rely on closed-source software for full functionality. We take licensing and copyright compliance very seriously. Using others' work without attribution or indicating that it's not your work will lead to immediate termination. Please contact us before submitting if you have any doubts about licensing matters, and we'll be happy to help.

Application Process

To participate in the grant program, fill out an application form.
Team applications are submitted by one representative, containing contact information, experience and 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 specified in 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

FAQ

Who can join?
Velas Grants Program applies to any qualified specialist/s that will bring real benefits to the Velas ecosystem.

How do I apply?
You can apply at any time. To get started, click this.

What are the requirements for the project?
Applications and submissions must be in English language. Anyone contributing within the grants program must ensure a high level of personal and professional ethics and morals.

Can I provide suggestions for the Investment categories, process or anything else?
Yes, we welcome all feedback, discussion and suggestions. You can send your suggestions to info@velas.com

What is the size of investments offered?
The more difficult and higher priority of the task, the higher the reward will be (up to $100,000).

Why should I build on Velas?
The Velas Grants Program is designed to support the growth of the Velas ecosystem and expand our reach in the new Web 3.0 epoch.

What is a decentralized application?
DApp, or decentralized application, is a software application that runs on a distributed network. The application must be run on Velas blockchain.

What is the application process?
The application process consists of 4 review rounds: initial approval of the concept, team within 2-4 weeks — face to face meeting with founders — high level research about the company — ask for the terms and a second meeting.

How long will the program last?
Intensive acceleration & investment period average continues for 6 months.

Contacts

Any suggestions are accepted by email info@velas.com