Press Release

Velas Network Awards Largest Grant to WagyuSwap to Build the First DEX

Zug, Switzerland, 02.09.2021 — Today Velas Network is proud to announce the largest recipient of its grant program — WagyuSwap is the first decentralized exchange (DEX) which will be built on Velas. 

Of the many projects which are set to receive allocations, WagyuSwap managed to receive the largest grant allocation for itself with the purpose of building the first DEX of the Velas ecosystem. Backed by BlueZilla, WagyuSwap is launching via a double IDO on BSCpad and ETHpad on September 7. 

Last month, Velas launched a 5M USD Grant Program designed to fund the bleeding edge projects working at the edge of the crypto frontier. This program will help DeFi and DEXes, NFTs, gaming, dApps that connect the Velas ecosystem with the traditional sectors of the global economy, and any projects working towards mass adoption. 

Due to its Grant Program, Velas has attracted a strong pipeline of game-changing projects, all of which will be launching precisely on WagyuSwap. Essentially, it will be the gateway into the fastest blockchain ever –– clocked at 75,000 TPS –– one which innovative projects pursuing peak technological performance will have their eyes set on.

Velas Network COO, Shirly Valge stated: “Velas is primed for the fastest cross-chain token transfers, and as the first mover into this nascent DeFi universe, WagyuSwap will be the cornerstone of the Velas DeFi scene.” She continued: “Though WagyuSwap was the first to grab the largest grant from the Velas’ Grant Program, there will be many more teams building DEXs on Velas: a sign that, in DeFi and crypto, competition is not only expected, but encouraged.

Applying for the Velas Grant

To apply for the Velas Grant Program, fill out an application form. Team applications should be submitted by one representative for the project, containing up-to-date contact information, experience, and the portfolio of all team members who would be involved in working on the task. Application forms will be reviewed within 14 working days and selection results will be sent to the email provided during the application. If a proposal is successful, further communication will be required to determine specific details around timelines and payment schedules. Feedback will occur throughout the grant process. 

For further information and FAQs, please check out the official Velas docs page here.

Velas are proud to welcome innovative and exciting new projects, products and services to the Velas family, and welcome a massive expansion in the usecase of the Velas Blockchain, taking advantage of the best-in-class TPS, throughput, and developer support. The Velas Funding Program helps push the Velas Blockchain to be the most attractive, powerful chain in the entire crypto sector.

For full technical details on the Velas Funding Program, click HERE.

Media Contact Details

Contact Name: Shirly Valge

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