"Velar Launches Dot BTC Name Grant: Unifying Bitcoin Identity"
1min read Velar, a decentralized exchange protocol, has launched the Dot BTC Name Grant for Digital Identity, aiming to popularize the ".btc" digital identity standard across the Stacks ecosystem. The program, which is supported by over a dozen partners, seeks to make on-chain interactions easier and reduce manual errors, while also promoting a unified identity system for Bitcoin users.
The BTC Name Grant Program has raised over 6,000 STX in funding from key contributors such as Arkadiko, Ryder, and Stacks. Users who purchase ".btc" names through accredited sites like BNS ONE and BNS will be entitled to STX refunds through Velar's bespoke portal, velar.com/returntobtc. This initiative follows Velar's successful Return to Ape campaign, which allowed users to earn Megapont NFTs.
Velar's chief marketing officer, Peter Watson, expressed optimism about the initiative, stating, "It is inspiring to see all the protocols and tokens across the Stacks ecosystem unite for this effort. It speaks so loudly about our collective will to lift and support the entire community as a whole." Philip de Smedt, co-founder of StackingDAO, echoed this sentiment, noting that the effort is building a global unifying identity for the Stacks community.
The funding for the BTC Name Grant is led by Stacks and Ryder, each pledging 1,000 STX. Other contributors include Velar, Bitflow, StackingDAO, ALEX, Arkadiko, Hermetica, and Leather Wallet, who have each contributed 500 STX. Zero Authority, Flat Earth, Leo, and ROO have contributed 250 STX. Technical support for the activity is provided by BNS ONE and BNS.Market.
The market has responded positively to the news, with Velar's native token, VELAR, increasing by over 6% in the last 24 hours. The token's market capitalization stands at $7 million, and trading volume has increased by over 13%, indicating growing investor interest. As of writing, VELAR is trading at $0.03067.
The BTC Name Grant Program aims to create an augmented and more connected ecosystem by incentivizing the widespread adoption of ".btc" names. This, in turn, strengthens Bitcoin's 
