Amplify Expands Network Reach With Velas Grant 🤝 Partnership
Amplify, the real-world defi lending platform, received a development grant from Velas chain. The grant will help expedite development and deployment on the first AI operated DPoS Blockchain.
Velas
This expansion will enable Amplify to leverage the ultra-efficient output speed of Velas’ network. The network boasts an average block time of only 0.4 seconds and utilizes an AIDPOS consensus algorithm. The network is also equipped with a dizzying 50,000 TPS rate (transactions per second) which means it’s capable of speeds which are 5X faster than the maximum processing capabilities of both Visa and MasterCard combined.
The Switzerland based platform was founded in 2019 by the CEO of leading crypto payment processor, CoinPayments. The Velas-engineered AIDPOS algorithm proactively adjusts the blockchain configuration to balance performance and security while preserving the network’s decentralization.
Amplify Finance
Last month Amplify announced that they would be deploying on Polygon initially and with the newly signed agreement with Velas, the platform will join the ranks of cross-chain or multi-chain defi platforms.
Amplify Labs provides an innovative addition to the current Velas ecosystem. The Amplify Team is a decorated group of experienced professionals, several of whom have a history of working on successful defi & blockchain projects. Those include: PolyNetwork, O3 Swap, Flamingo Finance, Piggy Finance, Holdex, and a number of others. The Singapore Fintech Association Accredited platform will be looking to build on their previous successes with their latest and most ambitious endeavor in Amplify.
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Kindly,
Amplify Team
