Decentralized Futures: Introducing Velocity Labs
We are thrilled to introduce Velocity Labs as the latest grantee under the Web3 Foundation’s Decentralized Futures Program. This grant signifies a bold step towards revolutionizing the DeFi landscape within the Polkadot ecosystem. Here’s a deep dive into Velocity Labs, their vision, and the groundbreaking initiatives they are set to embark upon.
Velocity Labs: Vision and Mission
Velocity Labs aims to transform the Polkadot ecosystem into a hub of DeFi innovation. The ecosystem builder and venture studio is dedicated to building essential infrastructure, tools, and products that will enable DeFi on Polkadot to thrive.
Their mission is clear: to unleash Polkadot’s full potential as a robust, scalable, and flexible blockchain platform for DeFi. By focusing on accessibility, composability, and usability, Velocity Labs is set to attract a diverse range of users, builders, and liquidity providers to Polkadot.
Key Initiatives and Projects
DeFi Infra & Tooling Bounty Program:
Velocity Labs will operate a bounty program where parachain founders and Velocity will act as curators, utilizing treasury funding to incentivize builders and key service providers. This program aims to address critical pain points within the ecosystem by outlining technical requirements, issuing requests for proposals, and ensuring successful completion through clear milestones.
Token Transfer SDK:
Aiming to increase the velocity of tokens by reducing friction in movement across the ecosystem, their SDK aims to provide a seamless way for parachains, dApps, wallets, and users to enable token transfers across the Polkadot. It will also leverage Snowbridge and other existing bridges to enable a seamless flow of liquidity from outside ecosystems.
DeFi Builders Program:
Velocity Labs plans to support DeFi builders at all stages of development with engineering, product, and go-to-market (GTM) capabilities. By providing tailored services and funding through treasury bounties, they aim to attract high-quality projects to Polkadot and ensure their success through robust support structures.
Infrastructure Development and Support:
Recognizing the need for comprehensive infrastructure, Velocity Labs will focus not only on developing direct-to-parachain on-ramping solutions, but also ecosystem-wide custody solutions. They will also engage in business development to promote the adoption of these tools throughout the ecosystem.
The Team Behind Velocity Labs
Velocity Labs is powered by a team of experts with deep knowledge of the Polkadot ecosystem, DeFi, and Substrate. Led by co-founder and CEO Nicolas Arevalo,their collective experience encompasses roles at prominent blockchain projects and a deep commitment to advancing Polkadot’s DeFi capabilities.
Long-Term Vision
By addressing the critical challenges of composability and accessibility, Velocity Labs is set to make Polkadot the premier platform for DeFi applications, drawing inspiration from successful models in other ecosystems like ConsenSys in Ethereum and Delphi Labs in Cosmos.
Join the Movement
The bounty is now open for applications — if you’re a builder then register your interest here.
Stay tuned for more updates on Velocity Labs’ progress and how their initiatives will shape the future of DeFi on Polkadot. Follow Velocity on Twitter and LinkedIn for the latest news and developments.
