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Velas Monthly Ecosystem Report #003

Greetings, fellow Velonians!

Another month is in the books, and we can’t wait to share what we’ve been working on.

Despite a global pandemic, Velas has thrived in a digital-first world, mostly thanks to a globally distributed team bringing insights, talent, and product updates from every corner of the globe.

Before we dive in, we’d like to thank our community for their continual support, as you’re the ones driving our innovation every day.

If this is your first time hearing about Velas, we recommend stopping by our Telegram to see what we’re talking about.

Now, let’s dive into the updates!

During April, you may have noticed we had not one, but two different tech updates to make sure you had a birds-eye view on what was going on under the hood.

Tech Report 03.31.20–04.15.20

Tech Report 04.14.20–04.27.20

Wallet 2.0

During the first half of the month, we refined some of the crucial aspects of our wallet, including:

  • Delegated Staking
  • Development of the Video Storage page
  • Enhanced UI/UX improvements
  • Further Android & iOS mobile applications

We have a clear vision to offer the sleekest and compelling mobile wallet on the broader crypto ecosystem and have made significant strides on this front including:

  • Pool Staking Stats
  • List of Wallets
  • Enhanced wallet recovery security


As anyone in crypto knows, a protocol is only as good as its underlying tech stack. Here’s a glimpse of how we beefed up the Velas blockchain in the past month.

  • Expedited token migration
  • Conducted a rigorous security audit
  • Blockchain monitoring tool development
  • Load test to enhance performance
  • Improved desktop & macOS experience.

AI research report

Core to the overarching goal of Velas is the intersection of AI and blockchain technology. Seeing as AI is continuously evolving, it’s essential for us to keep a close eye on what’s going on in the wider field — continually gather insights as to how to optimize Velas AI to its full potential.

This past month, our AI department published a 200+ page research paper, comparing and analyzing other projects leveraging machine learning. With 20 industry-leading organizations and 40 specialized experts contributing to our research, we’re excited to channel this research into a state of the art framework for linking a high-performance blockchain with machine learning nodes.

Dapp developer open call

Do you have a new cutting edge decentralized application that the world needs to see? Well, you came to the right place!

Velas is inviting you to join our innovative, decentralized, AI-based ecosystem!

Recently we launched a campaign to onboard existing DApps and new projects to our platform. If you have a fantastic Dapp, Velas is the perfect place to build your project. We are excited to offer you an opportunity to become one of the first DApps to build on the Velas Blockchain.

Benefits for your project:

  1. Integration Support. Easy and fast integration with support from our technical team.
  2. Ethereum Friendly. Parity Client integration, so the migration from Ethereum will take less than 5 minutes.
  3. Web3/Solidity Based. Velas smart-contracts use Solidity — the most popular programming language in the blockchain developer community.
  4. Marketing Support. Global marketing coverage — from Asia (China, Vietnam, Korea, India, etc.) to North America (the USA and Canada).
  5. Financial Support. The opportunity to accelerate your project with financial incentives.

Velas is one of the fastest-growing blockchain ecosystems on CoinMarketCap, with a capitalization of more than $60 million in less than one year.

Our project is quickly becoming one of the hottest startups in the industry. Join us now and help build the Web 3.0 Decentralized Infrastructure of the future!

If you are interested in learning more, reach out to us on Telegram

or via email

For anyone who’s been staying up with the vast crypto ecosystem in the past few years, we’re sure you’ve noticed that Twitter has quickly evolved into the leading outlet for projects to share updates and interact with their community.

To this end, we’re happy to welcome our founder Alex Alexandrov to the vibrant and, in many regards, limitless crypto communities. This gives community members a direct way to chat with Alex as he shares his thoughts on the state of the industry and further proves why he’s well-positioned to lead blockchain into the future.

Be sure to give him a follow and a big welcome!

Catching more great headlines Velas founder Alex Alexandrov was ranked #2 in this excellent article by Publish0x — focusing on the top 20 Entrepreneurs gearing up for a big year in the blockchain space.

Block Down Virtual Conference 2020

In light of global lockdowns, every blockchain conference has had to either postpone or cancel.

Luckily, Alex was able to share some of our progress at a leading virtual event — Blockdown 2020. This particular virtual event was the first where attendees could walk around a virtual world and interact with other participants and the speakers. Given the forward-thinking nature of Velas, we were glad to be apart of such a futuristic experience.

Here’s a look at his presentation where we dive into the power of AI-based consensus and our relationship to Coin Payments!

Velas Team Gallery


As Velas continues to scale, it’s even more critical to have dedicated communities established in rising tech hubs around the globe. To this end, we’re excited to share some of our new communities, including:

The important thing to note here is that Velas does not discriminate based on geography and instead offers different languages and resources to ensure anyone in the world — regardless of their technical background — can benefit from our protocol and the applications which are built on top of it.

A quick word from our Asia marketing director — Alexander von Kaldenberg

Velas expanded its footprint in the month of April and we are pleased to have telegram communities up and running in Korea, Vietnam, Espanol Indonesia, and India. If you prefer to speak English, our main international group is still the best place to keep up to date with the Velas project.

It might be the halving, or it might be a renewed interest in the space overall, but there is a ton of energy, excitement, and energy in crypto these days. We wanted to tap into this and encourage people to share what excites them, so we have launched “Coffee and Crypto”. Starting this month, every Saturday and Sunday in our Indonesian and Vietnamese groups, community members can share articles they find interesting. If the community decides their news was the most interesting story shared that day, we will send the winner $5 in VLX. Share something interesting, and your morning cup of tea or coffee is on the VLX team…not a bad deal!

Incorporating Reputation

One of the best ways for us to give back to the community is to establish metrics that quickly determine who is contributing the most value over a fixed period.

To do this, we’ve incorporated a Reputation Bot that keeps track of engagement and rewards users with VLX for their contribution to the Velas movement.


With the Bitcoin halving fast approaching, Velas brand ambassadors the Coinbros brought together a large group of influencers and crypto personalities such as Brock Pierce, Bitboy, Girl Gone Crypto, and John McAfee. The premise was to create a fun music video to raise awareness for the broader crypto ecosystem. The results have been fantastic, and we look forward to sponsoring more creative content initiatives like this in the future. Check it out below and give it a share!

BitcoinTalk Content Contest

We are calling all content creators! For May, we’ll be hosting a content creation campaign on BitcoinTalk.

Participants will have the chance to win anywhere from $5 — $50, depending on the quality of content. To get involved, check out our BitcoinTalk page — Campaign page — and drop a writeup on your favorite aspects of Velas!


Kicking things off is our most recent listing on ProBit, including VLX/KRW, VLX/BTC, and VLX/USDT trading pairs. This listing also comes with the integration of Pool Staking, meaning a new audience of traders can participate in the Velas movement by staking VLX.

For those who haven’t heard of ProBit, it’s one of the top 20 cryptocurrency exchanges that features over 300 trading pairs, one of the highest in the market. With over 300,000+ monthly active users, 2,500,000 monthly web visitors, and 40,000,000 users on partnered sites and wallets such as CoinMarketCap, ProBit is yet another way for people to get involved with the VLX ecosystem. With support for eight key languages & markets, we believe ProBit is a fantastic partner to usher in a new wave of Velas users. Pool Staking

Speaking of staking, has successfully launched Pool Staking with a minimum of only 1 VLX to get started.

Here’s an awesome BW staking video made by one of our community admins Ted and Yazmin, on how to get set up today!

Upcoming Listing

On top of both of these new exchange listings, we’re happy to announce a new top 10 exchange listing with a major presence globally.

Seeing as this exchange has been pivotal in the launch and growth of some of the top projects of today, we’re eager to unveil perhaps our biggest listing yet!

Join our Twitter for a sneak peek on what this listing is, and when it will go live!

Delegate Staking Wallet Upgrades

On the wallet side of things, we’ve updated the UI to offer enhanced aesthetics such as the Wallet Listing and Delegate Staking pages. This comes in tandem with new and improved “STATS” tab, which allow users to view key metrics including but not limited to:

  • Total Pools
  • Amount of Unique Staking Participants
  • Total VLX Staked
  • Pool Staking Sizes
  • Pool Population
  • Epoch Time Tracking

If you need help getting started with delegate staking, here’s an excellent tutorial on staking your VLX in a matter of minutes with no technical background required.

Trading Contest

Last but not least, we’re excited to share the winners of the Velas trading competition!

Thanks to our partners at, our two-week contest was able to generate over $1M in volume, including a select few winners who won $7000 in USDT prizes and a handful more, which won 5000 VLX.

Check out the winners!

Closing Thoughts

As you can see from the length of this article, April has been nothing short of amazing for the Velas ecosystem. With an improved 2.0 wallet, expanded global communities, and a suite of new exchange listings, Velas is on track to experience explosive growth in the coming months.

To anyone still reading, it’s community members such as yourself who have driven us to where we are today. As we continue to shape the future of AI-based scalability, we’re always looking for feedback on new uses and integrations.

If you haven’t done so already, join our Telegram and introduce yourself! You’ll be pleasantly surprised by how welcoming and inviting the Velas family is.

Until then, stay sharp, and we’ll see you next month with another update!

All the best,

Alex Alexandrov

Velas Founder

Velas Website | Twitter | Instagram | Facebook | YouTube |Telegram



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