Alisa Davidson
Published: January 30, 2025 at 8:00 am Updated: January 30, 2025 at 7:53 am
Edited and fact-checked:
January 30, 2025 at 8:00 am
In Brief
Velar has introduced the “.BTC Name Grant Program” to promote the standardization of digital identities on Stacks and drive broader adoption of the “.btc” digital identity standard within the Bitcoin ecosystem.
Decentralized exchange protocol built on Bitcoin, Velar has introduced the BTC Name Grant Program, an initiative aimed at promoting the standardization of digital identities on Stacks. This initiative seeks to drive broader adoption of the “.btc” digital identity standard for the Bitcoin ecosystem, reducing manual errors and simplifying on-chain interactions.
“It’s truly inspiring to see all the protocols and tokens across the Stacks ecosystem come together for this initiative,” said Velar CMO Peter Watson in a written statement. “This unity speaks volumes about our shared commitment to supporting and uplifting the entire community,” he added.
The BTC Name Grant Program, developed by Velar, is being rolled out in collaboration with about a dozen partners who are dedicated to promoting Bitcoin adoption. Over 6,000 STX in funding have already been secured from organizations such as Stacks, Ryder, and Arkadiko. This initiative enables users to purchase .BTC names through approved platforms like BNS ONE and BNS.Market, with STX reimbursements processed via Velar’s dedicated portal.
Building on Velar’s history of driving community-led initiatives, such as its successful Return to Ape campaign that helped users acquire Megapont non-fungible tokens (NFTs), the .BTC program is set to launch on January 30. This program represents a significant move toward establishing a unified digital identity standard within the Stacks ecosystem.
‘.BTC Name Grant Program’: First Initiative On Stacks Supported By Ryder, Bitflow, StackingDAO, And More
This initiative marks the first program hosted on Stacks’ Bitcoin Layer 2. Leading contributions come from Stacks and Ryder, each committing 1,000 STX, followed by Velar, Bitflow, StackingDAO, ALEX, Arkadiko, Hermetica, and Leather Wallet, each contributing 500 STX. Zero Authority, Flat Earth, Leo, and ROO have also joined, each contributing 250 STX. Technical support for the program is provided by BNS ONE and BNS.Market, ensuring smooth implementation and user access.
The BTC Name Grant Program reflects a collective effort from prominent Stacks projects to enhance the ecosystem’s infrastructure and broaden accessibility for both new and existing users. Through incentivizing the adoption of .BTC names, Velar seeks to pave the way for a more unified and user-friendly Stacks ecosystem.
“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,’” said Philip de Smedt, Co-founder of StackingDAO, in a written statement. “This wouldn’t be possible without the participation of the whole ecosystem, including leading Stacks protocols,” he added.
Velar is developing an intuitive user interface designed to provide access to one of the most secure blockchains available. With Velar, users can easily trade Bitcoin-based tokens with minimal effort, all through a streamlined and accessible interface. The platform is working to pave the way for a new era of Bitcoin-driven financial innovation, unlocking previously untapped liquidity and enabling users to have greater control over their digital assets.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
