PANews, December 3—ETHGas has officially launched the Open Gas Initiative, offering a zero-code gas subsidy solution to help various protocols cover part of users' gas costs and create a smoother, lower-friction on-chain interaction experience. The initiative is already live on the Ethereum mainnet and will later expand to other EVM public chains and Layer 2 networks such as BNB, Base, and Arbitrum. The initial OG lineup includes protocols such as EigenLayer, ether.fi, Pendle, and Velvet Capital, which will be the first to integrate the Open Gas Initiative and demonstrate real-world use cases through "gas subsidies +

Gate News Bot report, on November 13th, according to CoinMarketCap data, VELVET (Velvet) is currently priced at 0.22 USD, with a rise of 14.65% in the last 24 hours, reaching a maximum of 0.23 USD and a minimum of 0.19 USD. The 24-hour volume has reached 7.08 million USD. The current market capitalization is approximately 27.7 million USD, an increase of about 3.54 million USD compared to yesterday. Recent important news about VELVET: 1️⃣ **Strategic cooperation with Beefy Finance** Velvet Capital has established a strategic partnership with the leading multi-chain yield optimization platform Beefy Finance. This collaboration aims to provide users with more diversified yield optimization opportunities, which is expected to significantly enhance the Velvet ecosystem.