Velar Has Unveiled the '.BTC Name Grant Initiative' Aiming to Unite the Stacks Community.

A decentralized exchange protocol established on the Bitcoin network, Velar is launching the BTC Name Grant Initiative, which aims to advocate for the standardization of digital identities within the Stacks ecosystem. This effort aspires to encourage the broader acceptance of the '.btc' digital identity standard in the Bitcoin world, thereby minimizing errors and enhancing on-chain interactions.

"It’s genuinely uplifting to witness various protocols and tokens within the Stacks ecosystem aligning for this initiative,\" commented Velar's CMO, Peter Watson, in a statement. \"This unity signifies our collective dedication to bolstering and uplifting the entire community,\" he added.

The BTC Name Grant Initiative, pioneered by Velar, is being launched in collaboration with around twelve partners who are passionate about promoting Bitcoin usage. More than 6,000 STX in funding have already been acquired from key players like Stacks, Ryder, and Arkadiko. This initiative allows users to purchase .BTC names through authorized platforms such as BNS ONE and BNS.Market, with STX reimbursements facilitated through Velar's dedicated mechanism. portal .

Building on its track record of spearheading community-driven initiatives, such as the Return to Ape campaign that assisted users in acquiring Megapont non-fungible tokens (NFTs), the .BTC initiative is set to debut on January 30. This program marks a pivotal advance towards instituting a unified digital identity standard within the Stacks landscape.

The ‘.BTC Name Grant Initiative’: A Groundbreaking Program on Stacks Backed by Ryder, Bitflow, StackingDAO, and More

This marks the inaugural program facilitated on Stacks’ Bitcoin Layer 2. Leading contributions include 1,000 STX each from Stacks and Ryder, followed by 500 STX from Velar, Bitflow, StackingDAO, ALEX, Arkadiko, and Leather Wallet. Zero Authority, Flat Earth, Leo, and ROO have also committed, each contributing 250 STX. Technical assistance for the initiative is being provided by BNS ONE and BNS.Market, ensuring the program's smooth execution and accessibility for users. Hermetica The BTC Name Grant Initiative embodies a collaborative effort from leading Stacks projects to improve the ecosystem's infrastructure and enhance accessibility for both new and seasoned users. By promoting the adoption of .BTC names, Velar aims to lay the groundwork for a more cohesive and user-centric experience.

"The Stacks community is reestablishing a collective identity to rally around, starting with the Return to Megapont Apes NFT initiative and now the 'Return to .BTC,'\" noted Philip de Smedt, Co-founder of StackingDAO, in a statement. \"This collective effort would not be achievable without the involvement of the entire ecosystem, including leading protocols on Stacks,\" he added. Stacks ecosystem.

is working on a user-focused interface geared towards granting access to one of the most secure blockchain environments. With Velar, users can trade Bitcoin-based tokens with ease and minimal hassle, all via a straightforward and user-friendly interface. The platform aims to usher in a new era of financial innovation powered by Bitcoin, unlocking previously inaccessible liquidity and providing users with greater supremacy over their digital assets.

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