Velas
Velas Network AG operates a Layer-1 blockchain combining EVM and eBPF execution environments, targeting decentralized application developers with high throughput and low fees. The Zug, Switzerland-based company serves DeFi, NFT, gaming, and Web3 builders through grants, hackathons, and developer tools.
- Company typePrivate
- Founded2019
- HeadquartersZug, Switzerland
- Headcount51–100
- GTM typeB2B and B2C
- OfferingSoftware
What Velas does
Velas Network AG is a privately held blockchain infrastructure company founded in 2019 and headquartered in Zug, Switzerland, within the Crypto Valley ecosystem. The company operates the Velas Blockchain, a Layer-1 network combining the Ethereum Virtual Machine (EVM) with extended Berkeley Packet Filter (eBPF) execution, supported by a Delegated Proof-of-Stake consensus mechanism branded as 100% carbon-neutral. The chain went live on mainnet in January 2020 and is marketed as supporting 50,000+ transactions per second with 1.2-second finality at a $0.00001 per-transaction fee, using a Gulf Stream mempool-less forwarding protocol and Tower BFT consensus. Velas positions itself as an EVM-compatible alternative to Ethereum with one-click dApp migration, alongside native eBPF execution borrowed from the Solana architecture, and has added cross-chain bridging to Avalanche.
The company's revenue model rests on three streams: nominal transaction fees, a staking economy in which validators earn commissions on delegated VLX (with a 1 million VLX minimum validator stake), and ecosystem investment programs funded externally rather than generated from operations. Customer-facing products include the Velas Wallet (iOS and Android), liquid staking via stVLX tokens through Accumulated Finance, and developer tools spanning documentation, GitHub repositories, a $100 million grants program (up to $100,000 per project plus $10,000 AWS credits), hackathons, an incubator/accelerator, an IDO launchpad, and KOL/ambassador programs. Velas pursues a developer-led, community-led, and event-driven go-to-market, with a reported 300,000+ community members across Telegram, Discord, Twitter, LinkedIn, and other platforms, and 22+ ecosystem projects spanning DeFi (WagyuSwap), NFT (GPNFTS, Barter Smartplace), gaming (Velhalla, Warlands Esport Gamefi), digital identity (Vulos.io), and community economies (EGG City Coins).
Velas is led by Founder & CIO Alex Alexandrov (also CEO of CoinPayments) and Co-Founder & CEO Farhad Shagulyamov, who assumed the CEO role in December 2021. Capital formation has been dominated by a $135 million financial commitment from GEM Group announced in September 2022, supplemented by a smaller 2021 round from Paradox.investments. High-visibility partnerships include Scuderia Ferrari (F1), SpaceChain (space-based blockchain), SEBA Swiss (banking), and CV Labs. The company has collected multiple industry awards (AIBC Summit Blockchain Protocol of the Year 2022, Macau Finwise Most Innovative Blockchain Technology Award 2022) and was recognized as a Top 23 blockchain firm in Crypto Valley. Velas launched Velas 2.0 with a subchain-enabled Devnet in 2024 as its most recent major product evolution.
Velas firmographics
Firmographics- Name
- Velas
- Legal name
- Velas Network AG
- Website
- https://velas.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Velas Network AG operates a Layer-1 blockchain combining EVM and eBPF execution environments, targeting decentralized application developers with high throughput and low fees. The Zug, Switzerland-based company serves DeFi, NFT, gaming, and Web3 builders through grants, hackathons, and developer tools.
- Ownership category
- akta.pro rank
Velas industry classification
Industry- Product category
- Blockchain Infrastructure Platform
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Exchanges (52321)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Blockchain Settlement & Clearing Infrastructure (On-/Off-chain Post-Trade) (FSAGAMAC)
- akta.pro secondary industries
- Interoperability & Integration Middleware (ERP/core banking connectors, messaging, APIs, cross-chain to permissioned) (FSAPAIAL), Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls) (FSAPAIAE)
Keywords
Where Velas is headquartered
LocationHeadquarters
- HQ city
- Zug
- HQ country
- Switzerland
- HQ region
- Europe
Offices2 records
Markets served
Velas business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations
Revenue model
- Transaction Fees: Network collects transaction fees from all transactions executed on the Velas blockchain. Fee is $0.00001 per transaction.
- Staking Economy: Validators and delegators participate in staking economy. Validators earn commission fees from delegated stake. Network emits staking rewards funded by transaction fees and disinflationary schedule.
- Ecosystem Investment: $100 million grants program investing up to $100,000 per project in ecosystem development. Additional $10,000 AWS funding per selected project.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Developer Grants - up to $100,000 per project |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels10 records
Velas product offering
Product offeringCore offering
Velas operates the Velas Blockchain, a carbon-neutral EVM/eBPF hybrid Layer-1 chain designed for smart contracts and decentralized applications. It delivers 50,000+ transactions per second with 1.2-second finality and a $0.00001 transaction fee, enabling one-click migration of Ethereum dApps via its EVM compatibility layer. The platform is complemented by the Velas Wallet for end-user crypto management, a validator/delegator staking economy, liquid staking via stVLX, and cross-chain bridging to networks such as Avalanche.
Product overview
Velas is a blockchain platform built around the Velas Blockchain (the world's fastest EVM/eBPF hybrid chain), complemented by the Velas Wallet for user-facing cryptocurrency management and staking. The core chain supports dApp development through EVM compatibility (Ethereum migration in one click) and native eBPF execution, with developer support through documentation, grants (up to $100,000), hackathons, and an incubator/accelerator. The platform includes staking via validators and delegators, liquid staking via stVLX tokens, cross-chain bridging to Avalanche, and a growing ecosystem of 22+ third-party projects spanning DeFi, NFT, gaming, and Web 3.0. Ambassador and KOL programs provide community-driven growth support.
Differentiator
Problem solved
Functional benefit
Products and services
- Velas Blockchain A carbon-neutral EVM/eBPF hybrid Layer-1 blockchain offering 50,000+ TPS throughput with 1.2-second finality and $0.00001 transaction fees. It supports Solidity smart contracts and Web3 libraries, enabling dApp development for DeFi, NFT, Metaverse, DEX, P2E gaming, and Web 3.0 use cases. Targeted at developers and enterprises needing a high-performance EVM-compatible chain.
- Velas Wallet A free multi-currency cryptocurrency wallet available on iOS and Android that supports VLX token management, staking delegation, bill payments via QR code, and purchasing of VLX. Targeted at retail crypto users and individual stakers.
- Velas Liquid Staking (stVLX) A liquid staking product that lets users mint stVLX tokens by staking VLX, preserving liquidity of staked assets while still earning staking rewards. Targeted at VLX holders seeking liquid staking exposure.
- Velas Cross-Chain Bridging Cross-chain interoperability service enabling bridging between Velas and Avalanche (and other prominent chains), allowing assets to move across blockchain networks. Targeted at DeFi users and developers needing multi-chain asset transfers.
Quantifiable outcome
- 50,000+ TPS throughput
- +4 more outcomes
Companies that use Velas
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles4 records
Velas technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature8 records
Velas partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered flagship and core.
- SpaceChainflagshipStrategic partnership positioning Velas blockchain at the forefront of space exploration. Collaboration advances the new economy emphasizing immutability and security. Velas became among the pioneering blockchains to operate in space, enhancing security and setting benchmarks for the blockchain sector.
- AvalanchecoreCross-chain bridging partnership enabling interoperability between Velas and Avalanche blockchain platforms.
- Ferrari (Scuderia Ferrari)flagshipMulti-year Scuderia Ferrari partnership announced in 2021-2022 for F1 collaboration. Partnership focused on performance and innovation, creating digital products for fans. One of the most high-profile partnerships in blockchain motorsport space.
- SolanacoreListed as ecosystem partner. Supports Web3 libraries from Solana alongside Ethereum.
- SEBA SwisscoreSwiss-based fintech/banking partner supporting the ecosystem.
- CVLabscoreCrypto Valley Labs partnership within Crypto Valley Zug ecosystem.
- BitOrbitcoreEcosystem project - blockchain infrastructure project built on Velas chain.
- VelaspadcoreLaunchpad platform for ecosystem projects.
- WagyuSwapcoreDeFi ecosystem project on Velas - decentralized exchange.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Velas competitors and assessment
Company assessmentDirect peers
- Avalanche: EVM-compatible Layer 1 blockchain with high throughput, subnets architecture, and a strong dApp/DeFi ecosystem. Direct competitor to Velas in the EVM-compatible, high-performance L1 segment; Velas already operates a cross-chain bridge to Avalanche.
- Solana: High-throughput Layer 1 blockchain that explicitly supports eBPF smart contracts and competes on speed and cost. Velas's EVM/eBPF hybrid positions it as a Solana analogue that adds EVM compatibility; Velas already supports Solana Web3 libraries.
- Polygon: EVM-compatible sidechain/polygon network targeting low-cost Ethereum transactions at high throughput. Competes head-on with Velas for Ethereum dApp migration workloads and DeFi/NFT use cases.
- Fantom: EVM-compatible Layer 1 DAG-based chain (Fantom Opera) targeting high-throughput DeFi. Closest structural analog to Velas as an alternative EVM L1, comparable size and ecosystem maturity.
- BNB Chain: EVM-compatible Layer 1 operated by Binance with very low fees and a large dApp ecosystem. Competes with Velas for the same cost-sensitive EVM developer audience.
- NEAR Protocol: Sharded Layer 1 blockchain with EVM compatibility and focus on scalability and low fees for Web3 applications. Competes with Velas for high-throughput dApp and NFT workloads.
- Cosmos (Atom): Ecosystem of interoperable app-chains built with Cosmos SDK and IBC. Competes with Velas's upcoming subchain architecture for app-specific chain deployments and cross-chain interoperability.
Broad incumbents
- Ethereum: Dominant EVM-compatible Layer 1 and the chain from which Velas explicitly targets dApp migration. Ethereum's roadmap (rollups, danksharding) is the primary incumbent threat to all EVM-alternative L1s.
- Cardano: Established Layer 1 blockchain with its own smart contract stack (Plutus). Competes with Velas for the same developer audience in the alternative-L1 category, though with a different execution model.
Emerging players
- Alchemy: Leading blockchain developer infrastructure and node API platform. Adjacent competitor in the developer tooling stack where Velas also competes via docs.velas.com, EVM migration tools, and SDK offerings.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Velas social profiles
Digital presenceVelas financial estimates
Financial estimateRevenue estimate
Valuation estimate
Velas leadership team
Management profileNumber of profiles
Profiles2 records
Velas funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Velas M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Velas
What does Velas do?
Velas operates the Velas Blockchain, a carbon-neutral EVM/eBPF hybrid Layer-1 chain designed for smart contracts and decentralized applications. It delivers 50,000+ transactions per second with 1.2-second finality and a $0.00001 transaction fee, enabling one-click migration of Ethereum dApps via its EVM compatibility layer. The platform is complemented by the Velas Wallet for end-user crypto management, a validator/delegator staking economy, liquid staking via stVLX, and cross-chain bridging to networks such as Avalanche.
Is Velas a public or private company?
Velas is a private company. It is classified as venture growth investor backed and is currently operating.
When was Velas founded?
Velas was founded in 2019. It employs 51 to 100 people.
Where is Velas based?
Velas is headquartered in Zug, Switzerland, in the Europe region.
How does Velas make money?
Three revenue lines are on record. Transaction Fees are the primary driver. The others are staking Economy and ecosystem Investment.
Who are Velas's main competitors?
Direct peers on record are Avalanche, Solana, Polygon, Fantom, BNB Chain, NEAR Protocol and Cosmos (Atom). Broad incumbents are Ethereum and Cardano. Alchemy is listed as an emerging player.
Does Velas have an API?
Yes. Velas provides developer documentation and EVM tools for building and migrating dApps. The platform supports Solidity smart contracts and provides Web3 library support for both Ethereum (web3.js, MetaMask) and Solana ecosystems. Developers can migrate dApps from Ethereum to Velas with minimal changes using the EVM compatibility layer. Documentation is available at docs.velas.com with sections for EVM migration, native chain development, CLI tools, validator setup, and staking. Developer documentation is at docs.velas.com.
What industry is Velas in?
Velas's product category is Blockchain Infrastructure Platform. Its primary akta.pro industry code is FSAGAMAC, Blockchain Settlement & Clearing Infrastructure (On-/Off-chain Post-Trade), with a secondary code of FSAPAIAL, Interoperability & Integration Middleware (ERP/core banking connectors, messaging, APIs, cross-chain to permissioned). Its NAICS code is 522320 and its SIC code is 6200.