Summary
· Velas has made available $100 million to support startups
· This is a sizable increase from the initial pledge of $5 million pledge
· New DeFi projects on Velas can access up to $100,000
Velas, a Swizz-based technology company, has made available $100 million to support startups that will be built on the Velas blockchain. This marks a sizable increase from the initial pledge of $5 million made earlier this year.
Like the initial $5 million grants program, the new funding initiative will see every project on Velas access up to $100,000. The blockchain is particularly interested in working with developers working on solutions for DeFi, decentralized exchanges, nonfungible tokens, and gaming.
Startups are required to create a business plan, technical specifications for the project, a pitch deck, and a project timeline. Any developer selected for the program will enjoy marking, networking, and tech support from the Velas team.
Velas is an open-source blockchain network that combines the best centralized and decentralized solutions. The company that oversees the protocol is based in the Swiss canton of Zug.