Velas Breaks New Ground with Solana V2
Blockchain lovers are likely familiar with Solana, the popular blockchain. They might also be familiar with Velas, a hard fork of that blockchain that was created to address certain underlying problems.
Now, the team behind Velas has announced even more features and projects being launched on its platform, dubbed Solana V2.
A New Era With Velas
One of the biggest and most important features within a blockchain is its scalability and this has been firmly addressed with Velas. The ecosystem has announced a processing capacity of 75,000 transactions per second as well as some of the lowest costs in the industry.
Velas is also notable for being EVM-compatible and allowing the transfer of projects from other blockchains, including Ethereum. This greatly increases its capabilities for the development of DeFi projects, NFTs, and D’apps.
Also, from all indications, Velas is working to not just be another blockchain hard fork project but distinguish itself with its projects. Velas has, first, announced the Velas Grant Program that will provide funding for developers of projects built on its stack. Initially, this fund was set at $5 million, but is now at $100 million following increased demand for it.
More support for developers can be found in the VelasPad, a launchpad for all Velas projects. This launchpad will feature resources regarding coding, legal affairs, marketing, and so on to help project developers get their projects off the ground.
This launchpad is being backed by Bluezilla Group, which also previously launched ETHPad, TronPad, and BSCPad.
The launchpad also has its own native token, VLXPAD, which has seen 149.21 times return on its initial investment since it hit the market.
Another big project being pushed forward by Velas is WagyuSwap, a decentralized exchange. Not only will WagyuSwap be one of the fastest and cheapest DEXs in the industry once launched, but it will also provide an avenue for projects launched in Velas to sell their native tokens.
Some of its key features will include cross-chain compatibility, high APY staking, competitive yield, and DeFi-based lotteries to reward users. WagyuSwap has become one of the most anticipated projects in blockchain and since the launch of its token, it has gone from $0.005 per coin to $0.282.
Finally, Velas has announced the launch of BitOrbit, a new platform created specifically for the monetization of online content by creators. Through BitOrbit, followers of creators can pay for exclusive content and the creators, in turn, can enjoy the financial benefits of their work.
BitOrbit will launch its IDO through VelasPad and following this, will list its native token on WagyuSwap, acting as an example of the seamless process of project launches on Velas.
While it might be easy to write off Velas as simply a hard fork of Solana, it is working to not only distinguish itself but to create a one-stop-shop for blockchain projects. This is done by providing all the tools a blockchain project would need to launch, including technical support and even a DEX.
Moving forward, Velas could very well go on to set the industry standard for blockchain project development and rollout.
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