Velar, a decentralized finance protocol on Bitcoin, has launched the BTC Name Grant Program to unify digital identities on the Stacks network and streamline on-chain transactions. The initiative aims to increase the adoption of the .BTC digital identity standard, reducing manual errors and making the Bitcoin ecosystem more accessible. Dozens of Stacks projects, including ALEX, Bitflow, Hermetica, and StackingDAO, have partnered with Velar and contributed over 6,000 STX to incentivize user adoption. The program will reimburse users who claim their .BTC names through platforms like BNS ONE and BNS.Market. This initiative builds upon Velar's previous success with the Return to Ape campaign and aims to revitalize user engagement within the Bitcoin ecosystem.
The Bitcoin decentralized finance (DeFi) liquidity protocol, Velar , has unveiled the BTC Name Grant Program to unify digital identities on the Bitcoin layer-2 network Stacks and simplify on-chain transactions. According to a press release shared with CryptoPotato, the latest initiative will boost the use of the .BTC digital identity standard in the Bitcoin ecosystem, significantly reducing manual errors during transactions.
The BTC Name Grant Program, set to launch on January 30, represents a shared commitment among top Stacks projects to the ecosystem’s infrastructure and make it more accessible to new and existing investors. To foster this development, Velar and Stacks have partnered with roughly a dozen projects focused on the initiative. The partners include crypto wallet provider Ryder, Bitcoin decentralized exchange Bitflow, Bitcoin-based stablecoin provider Hermetica, and Bitcoin DeFi protocols ALEX and Arkadiko. StackingDAO, the entity that provides infrastructure for Stacking Stacks’ native asset, STX, is also one of the partners. These entities have contributed more than 6,000 STX to incentivize users to adopt the BTC digital identity standard. ‘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,’ said Hadan, Head of Growth at ALEX Lab Foundation. Bitcoin users can acquire the .BTC names through the approved Bitcoin Name Service platforms BNS ONE and BNS.Market. Velar will conduct STX reimbursements to users who claim their .BTC names via this process. ‘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,’ commented Snazzy, an executive at BNS ONE. Interestingly, the BTC Name Grant Program builds on the success of Velar’s Return to Ape campaign, which encouraged users to acquire Megapont non-fungible tokens (NFTs). The name program is the first of its kind and aims to lure users back to the Bitcoin ecosystem.
BTC Name Grant Program Velar Stacks Bitcoin .BTC Digital Identity Defi Cryptocurrency Ecosystem NFT
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
KULR Expands Bitcoin (BTC) Holdings to 510 BTC, Taking Total Purchases to $50MThe maker of energy-management systems announced a bitcoin-buying strategy in December.
Read more »
KULR Expands Bitcoin (BTC) Holdings to 510 BTC, Taking Total Purchases to $50MThe maker of energy-management systems announced a bitcoin-buying strategy in December.
Read more »
BTC Price News: Jim Cramer Says Hold Bitcoin (BTC), Not MicroStrategy (MSTR)In January 2024, Cramer said that bitcoin was likely topping out and called for an exit. The asset has surged more than 100% since.
Read more »
Bitcoin Institutional Adoption Surges Past 3 Million BTC, MicroStrategy Leads the ChargeInstitutional Bitcoin holdings have skyrocketed, exceeding 3 million BTC and consolidating an estimated 14% of the total Bitcoin supply. This upward trend is fueled by prominent players like MicroStrategy, which continues to accumulate massive amounts of Bitcoin, reaching a staggering 461,000 BTC. The diverse landscape of institutional Bitcoin ownership includes Spot ETFs, public companies, governments, private entities, and DeFi protocols. These large-scale investments signal the growing confidence in Bitcoin as a valuable asset class and its potential for long-term growth.
Read more »
Velar Revamps Visual Identity to Reflect Growth in Bitcoin DeFiVelar, a leading Bitcoin-based liquidity protocol, rebranded with a new logo and visual identity in 2025 to reflect its growing influence in the Bitcoin DeFi landscape.
Read more »
5 Metrics to Track for Maximum Bitcoin Bull Run GainsBitcoin (BTC) has hit $100,000, and this guide explores five key metrics to navigate the opportunities this bull market presents for crypto traders and investors. We examine BTC price and market capitalization, Bitcoin Open Interest (OI), Bitcoin ETF flows, Bitcoin hashrate, and Bitcoin difficulty.
Read more »