The grants program is designed to support the growth of the Velas ecosystem and expand its capabilities within Web 3.0, a broad umbrella term that describes the next stage in the internet’s evolution. Like the initial $5 million grants program announced in August, the new funding initiative will allocate up to $100,000 per project. While Velas intends to fund a wide range of projects, developers who are creating solutions for DeFi, decentralized exchanges, nonfungible tokens and gaming will be given priority.
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