By
Temitope Olatunji
April 24th, 2024
Bringing a launchpad to market for the Velas blockchain is a significant development for the broader ecosystem
The blockchain industry has a growing need for ongoing and sustainable growth and development. As more ecosystems come to market, the focus needs to shift to collaboration and cross-chain compatibility rather than competition. The Velas Blockchain, with industry-leading transaction throughput and super low fees, may fuel that development with the help of VelasPad.
How VelasPad Ushers in the Next Generation
In the blockchain world, there are many ecosystems capable of making a long-term impact. Ethereum is one such example, even though slow transactions and high transaction costs hamper the network. Ethereum is also home to ETHPad, a native launchpad to help fund promising projects and ventures. A similar solution exists for Tron (TronPad) and Binance Smart Chain (BSCPad). VelasPad, for the Velas blockchain, is the latest addition to this small group of experienced and well-funded launchpad solutions.
As part of a broader cross-chain effort, VelasPad is a project by the Bluezilla Group. The Group aims to bring the most prominent blockchains to the forefront. BlueZilla sees merit in Velas due to its high TPS and very low transaction fees, making for an efficient network. Moreover, the VelasPad ensures projects do not rely on venture capitalists or early investors who want to change the developer’s narrative. Compared with non-VC funding, speed and efficiency can make Velas a blockchain that can rival Ethereum and Binance Smart Chain in the years to come.
While the Velas team endorses VelasPad, the platform is a separate venture. Its operations and finances are not tied to Velas, yet the BlueZilla Group has found a way to ensure projects get the necessary funding. More specifically, all projects launching on VelasPad will receive a fast-tracked route to Velas’ $5 million grant program. Currently, there are over 40 initial grant candidates, all of which will come to VelasPad for their initial raises.
Fueling future growth and prosperity is a crucial aspect of any self-respecting blockchain ecosystem. Velas and VelasPad share that vision, pushing them to fund the next generation of blockchain ideas, products, and services. However, there are still many use cases left unexplored in this industry.
A Long-Term Vision Is Crucial
Bringing a launchpad to market for the Velas blockchain is a significant development for the broader ecosystem. Thanks to the benefits Velas brings to the table – it is a Solana-based blockchain – a transaction throughput of 50,000 TPS is achievable. Moreover, the network does this at such a low fee; it is essential to explore how to put these resources to good use. Several innovative projects exist on Velas today, and a launchpad will help up-and-coming ideas achieve their goals.
As Ethereum is not designed to scale well for decentralized applications, developers need to explore alternative solutions. Velas’ approach of providing efficient execution of smart contracts mounted onto the Solana ecosystem. Additionally, if a developer has existing Ethereum or Solidity code, they can port it to Velas, as the ecosystem is EVM compatible. That is essential for projects looking to migrate off Ethereum or explore cross-chain features by running on multiple blockchains simultaneously.
It is also worth noting VelasPad provides many other features. For example, the anti-bot and trader-first liquidity systems will prove beneficial during the fundraising processes. Moreover, its cross-chain bridges and proven staking systems can offer unique opportunities. Finally, the platform’s vision of long-term growth and innovation through the Velas blockchain and its grant program can give rise to many dApp opportunities and ideas.
A launchpad is not just a facilitator of token sales, even though many people may see it as such. These platforms primarily serve to foster innovation and growth and provide support wherever necessary. Decentralized funding is one facet of launchpads like VelasPad, but it is far from the complete picture. Providing expertise can help a team go from an “OK” business approach to becoming the next blockchain unicorn.