- The initiative will hasten the Bitcoin ecosystem’s adoption of the “.btc” digital identity standard.
- With the help of over a dozen partners that are dedicated to promoting Bitcoin adoption, Velar’s BTC Name Grant Program will be put into action.
The decentralized exchange mechanism for Bitcoin In an effort to promote digital identity standards on Stacks, Bitcoin decentralized exchange protocol Velar has announced the launch of the BTC Name Grant Program. By lowering manual errors and streamlining onchain interactions, the initiative will hasten the Bitcoin ecosystem’s adoption of the “.btc” digital identity standard.
With the help of over a dozen partners that are dedicated to promoting Bitcoin adoption, Velar’s BTC Name Grant Program will be put into action. Funding of over 6,000 STX has already been obtained from partners including Arkadiko, Ryder, and Stacks. Velar’s dedicated portal, velar.com/returntobtc, facilitates STX reimbursements for customers who purchase .BTC names via approved platforms like BNS ONE and BNS.Market.
The success of Velar’s Return to Ape campaign, which assisted users in obtaining Megapont NFTs, exemplifies the company’s history of igniting community-driven initiatives, which the BTC program builds upon. The launch is scheduled on January 30. In the Stacks ecosystem, the BTC program is a significant step toward developing a unified digital identity standard.
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, said:
“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.”
Hadan, Head of Growth at ALEX Lab Foundation said:
“ALEX is proud to stand with fellow Stacks protocols and projects in support of 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.”
Louise Ivan, CEO & Co-Founder at Ryder added:
“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.”
This unique initiative is the first of its kind to be hosted on Stacks’ Bitcoin Layer 2. With 1,000 STX each, Stacks and Ryder are the top contributors. Velar, Bitflow, StackingDAO, ALEX, Arkadiko, Hermetica, and Leather Wallet are next with 500 STX each. With 250 STX each, Zero Authority, Flat Earth, Leo, and ROO have all joined the effort. BNS ONE and BNS.Market offer technical assistance for the program, guaranteeing its smooth operation and participant accessibility.
The BTC Name Grant Program is in line with top Stacks projects’ common dedication to developing ecosystem infrastructure and increasing its usability for both new and existing users. Velar hopes to provide the foundation for a more accessible and integrated Stacks ecosystem by providing incentives for the adoption of .BTC names.
