Hassan Maishera
Bitcoin decentralized exchange protocol Velar announced on Thursday, January 30th, that it has launched the BTC Name Grant Program, an initiative designed to advance digital identity standardization on Stacks.
In a press release shared with Cryptowisser, Velar said the initiative would accelerate the adoption of the “.btc” digital identity standard for the Bitcoin ecosystem, reducing manual errors and simplifying onchain interactions.
Velar's BTC Name Grant Program will be implemented in collaboration with around a dozen partners committed to strengthening Bitcoin adoption. More than 6,000 STX in funding has already been secured from partners like Stacks, Ryder, and Arkadiko. The initiative allows users to purchase .BTC names through approved platforms, such as BNS ONE and BNS.Market, with STX reimbursements, facilitated through Velar’s dedicated portal velar.com/returntobtc.
According to Velar, the BTC program builds on its track record of catalyzing community-driven movements, as embodied by the success of its Return to Ape campaign, which supported users in acquiring Megapont NFTs.
The .BTC program is launching today and is a major step towards creating a unified digital identity standard within the Stacks ecosystem.
While commenting on the launch, Velar CMO Peter Watson said,
“It’s truly inspiring to see all the protocols and tokens across the Stacks ecosystem come together for this initiative. This unity speaks volumes about our shared commitment to supporting and uplifting the entire community.”
Philip de Smedt, Co-founder of StackingDAO, added,
“The Stacks community is rediscovering a shared identity to unite around, beginning with the Return to Megapont Apes NFT initiative and now the ‘Return to .BTC.’ This wouldn't be possible without the participation of the whole ecosystem, including leading Stacks protocols.”
Snazzy of BNS One, whose platform is used for registering, renewing, and managing .BTC digital identities also commented that,
“We're thrilled to be partnered with Velar as part of the Velar Grants initiative, to help onboard thousands of new users for registration of their .btc names. BNS is often one of the first interactions new users have when entering the Stacks ecosystem, and the work that Velar is doing to accelerate the adoption of Stacks is truly remarkable.”
In his remark, Hadan, Head of Growth at ALEX Lab Foundation, said ALEX is proud to support the ‘Return to .BTC’ initiative.
“From reigniting the spirit of Megapont Apes to rallying around .BTC, it's clear that united our ecosystem is unstoppable. Collaboration fuels innovation, and together, we’re building an extraordinary future powered by Bitcoin. All roads on Bitcoin lead to Stacks,” Hadan added.
Louise Ivan, CEO & Co-Founder at Ryder, also said,
“Everything comes back to Bitcoin. Excited to see the Stacks community rally behind initiatives to make Bitcoin more fun, exciting and give the builder culture it needs.”
Velar pointed out that the Dot BTC Name Grant Program is the first initiative of its kind to be hosted on Stacks’ Bitcoin Layer 2. Stacks and Ryder lead the contributions with 1,000 STX each, followed by Velar, Bitflow, StackingDAO, ALEX, Arkadiko, Hermetica, and Leather Wallet, each committing 500 STX. Zero Authority, Flat Earth, Leo, and ROO have also joined the initiative, contributing 250 STX each. BNS ONE and BNS. Market provide technical support for the program, ensuring seamless execution and accessibility for participants.
Velar is building the user interface for accessing the most secure blockchain ever created. Its user-friendly interface enables anyone to effortlessly trade their favorite Bitcoin-based tokens with just a few clicks. Velar is laying the groundwork for a new era of Bitcoin-powered financial innovation while unlocking untapped liquidity and empowering users to take control of their digital assets.
