VeleroDAO Teams up With Velas and Joins the Velas Grants Program

VeleroDAO has been integrated into the Velas grant program and is receiving support for creating the first decentralized stablecoin (USDV) on the Velas blockchain, allowing users to unlock the full potential of their financial assets.

What is the partnership about?

The core concept of this partnership is to provide an easy way to complete transactions on the blockchain using a stable decentralized currency (USDV) that offers many advantages to Velas users. In early 2021, Velas launched a grants program offering a total of $100 million in development funds to promising projects and developers, such as VeleroDAO. Based on the MakerDAO protocol, VeleroDAO has created a collateral-backed stablecoin specifically for the Velas network.

This partnership gives the Velas community the following benefits:

  1. USDV is a decentralized cryptocurrency with a rate that is always equal to 1 US dollar and allows users to earn tokens by holding a deposit in their wallet.
  2. VeleroDAO shares its vision for a progressive blockchain with Velas, allowing users to access fully decentralized infrastructure projects without worrying about security and privacy.
  3. Users can buy or sell USDV tokens without intermediaries.
  4. When transferring USDV to another person, the user sends the complete equivalent of the US dollar without being affected by volatility.
  5. Users aren’t required to pay fees except for the small gas commission on the blockchain. This small fee is the same for any amount transferred, meaning, users won’t get charged more for transferring larger amounts.
  6. Regular users aren’t the only ones that can benefit from VeleroDAO’s platform features. Merchants can receive payments in USDV tokens directly from their customers, without external restrictions or any need for intermediary processes.
  7. By obtaining a VeleroDAO governance token, users can participate in liquidity asset auctions and purchase the collateralized assets for less than the market price.

Velas welcomes new partners

In 2021, Velas initiated a Grants Program to diversify and expand the Velas blockchain by empowering projects and developers. The program amounts to an astounding 100 million dollars at this time.

To become eligible to participate in this program, developers and projects must be able to demonstrate a constructive idea or business plan that has the potential to be beneficial to the Velas ecosystem. We are delighted to support projects that will contribute to moving towards the next step of the Internet evolution.

Velas $100 Million Grants Program supports a wide range of blockchain projects while prioritizing NFT, gaming, DeFi, and similar solutions.

About VeleroDAO

VeleroDAO is a DeFi platform based on the MakerDAO protocol that has developed a collateral-backed cryptocurrency (USDV) on the Velas blockchain. It is fully decentralized, and the processes that happen on the platform are predefined by the blockchain protocol. MakerDAO is the most popular DeFi project on the Ethereum network.

With the support of Velas, VeleroDAO is set to become the leading infrastructure project on the Velas network. VeleroDAO and Velas have been brought together by the common goal of creating new solutions and improvements in the rapidly evolving age of Web 3.0.

About Velas

Velas is the fastest EVM/eBPF hybrid chain powered by Solana and EVM, offering up to 75,000 transactions per second with extremely low fees. It provides developers with the required tools to build secure dApps and smart contracts on the network with just a few clicks. Users will have access to a thriving ecosystem through a range of decentralized products focused on scalability, security, and convenience. Velas is committed to developing cutting-edge cryptocurrency and blockchain innovations that will make life easier for people around the world, and the partnership with VeleroDAO is one step closer to achieving that goal.

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