Velar Launches BTC Name Grant Program to Boost Digital Identity on Stacks

Velar launches the BTC Name Grant Program to drive .btc digital identity adoption and unify the Stacks ecosystem.

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Velar, a DeFi protocol on Bitcoin’s Layer-2 Stacks network, has launched the BTC Name Grant Program to drive .btc digital identity adoption. 

The initiative seeks to unify the Stacks community by streamlining on-chain interactions and minimizing manual transaction errors.

Boosting .btc Adoption

Velar’s BTC Name Grant Program is the first initiative of its kind on Stacks’ Bitcoin Layer 2 network, aimed at expanding the adoption of .btc digital identities. 

Sponsored

By promoting .btc name usage, Velar seeks to create a more seamless and user-friendly ecosystem within the Bitcoin-powered network.

Launched on January 30, the program enables users to acquire .btc names through approved platforms like BNS ONE and BNS.Market, with reimbursements processed via Velar’s dedicated portal

The initiative aims to establish a unified digital identity standard within the Stacks ecosystem.

Enhancing Bitcoin’s Identity System

The BTC Name Grant Program, according to the official announcement, is a collaborative effort among leading Stacks projects to strengthen ecosystem infrastructure and improve accessibility for both new and existing users.

“It’s inspiring to see all the protocols and tokens across the Stacks ecosystem unite for this initiative. This unity underscores our shared commitment to supporting and uplifting the entire community,” said Velar CMO Peter Watson.

Backed by key contributors, including Stacks, Ryder, Bitflow, StackingDAO, ALEX, Arkadiko, Hermetica, and Leather Wallet, the program has already secured over 6,000 STX in funding.

“Everything comes back to Bitcoin. We’re thrilled to see the Stacks community rally behind initiatives that make Bitcoin more engaging, exciting, and help cultivate the builder culture it needs,” said Louise Ivan, CEO & Co-Founder of Ryder.

The BTC program builds on Velar’s track record of community-driven initiatives, including the successful Return to Ape campaign, which facilitated users in acquiring Megapont NFTs.

Why This Matters

This initiative is part of Velar’s broader goal to enhance Bitcoin-native DeFi by improving usability and security. As adoption increases, the program could help expand Bitcoin’s ecosystem beyond its role as a store of value.

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Author
Alex Costa

Alex Costa is a crypto writer and investor specializing in researching, analyzing and reporting on promising small-cap projects that are gaining traction in the industry. He has been in crypto since 2018, when he began looking for hidden gems in crypto. Today, he is dedicated to finding the next top performing NFTs and tokens.

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