Velo
We have decided to award a grant of 25,000 USDC and 39,135 NTRN to the Velo team to launch the Velo prediction markets on Neutron with a full redesign. We believe that the Velo team has the potential to design a unique prediction market and betting platform for both Neutron and the Cosmos, and we are excited to support their launch.
Neutron Grants Program
February 26, 2024
70000
Neutron Grants Program Batch #2 — Velo
Thesis
We have decided to award a grant to the Velo team of 25,000 USDC and 39,135 NTRN to launch the Velo prediction markets on Neutron with a full redesign. We believe that the Velo team has the potential to design a unique prediction market and betting platform for both Neutron and the Cosmos, and we are excited to support their launch.
Grant Deliverables
The deliverables are as follows:
- Launch of the Velo Protocol on Neutron's Mainnet with a full redesign
For Milestone 1 completion, the criteria are as follows:
- Testnet Launch of the Velo Protocol
- Full beta launch of the Velo Protocol
For Milestone 2 completion, the criteria are as follows:
- Completion of Velo's redesign
For Milestone 3 completion, the criteria are as follows:
- Launch of the Public Mainnet of Velo
For Milestone 4 completion, the criteria are as follows:
- 500 cumulative total active addresses using Velo
- $500,000 total betting volume on Velo
Grant Payment Terms
- Upfront Payment: 25,000 USDC
- Milestone 1 Payment: 7,827 NTRN
- Milestone 2 Payment: 9,784 NTRN
- Milestone 3 Payment: 13,697 NTRN
- Milestone 4 Payment: 7,827 NTRN
Further information
- Social Media: https://x.com/vexxvakan
- Other Profiles: https://github.com/vexxvakan | https://github.com/keyleu
Note
The applicable NTRN for the previously agreed equivalent dollar amount was fixed using a 30-day moving average of the NTRN closing price as of February 12th, 2024.