Panama City, Panama, September 16th, 2024, Chainwire
Bitcoin trading protocol Velar has announced the beta launch of its perpetual swaps DEX on BOB (Build on Bitcoin). Its release marks a world first in bringing onchain perps markets to the Bitcoin ecosystem.
The mainnet deployment of Velar Artha PerpDex allows users to begin exploring the features and capabilities of the first Bitcoin-native decentralized exchange for futures trading. The culmination of years of innovation in the Bitcoin and DeFi space, Velar Artha provides an entirely new way of interacting with Bitcoin.
By leveraging the robust security and unparalleled network effects of Bitcoin, combined with the flexibility and capital efficiency of perpetual contracts, Velar Artha opens up a new frontier in decentralized finance. The Velar Artha platform is built on BOB, the Bitcoin layer-2 that supports lightning-fast trades, enhanced scalability, and reduced transaction costs while maintaining the security guarantees of the Bitcoin network. This allows traders to engage with sophisticated financial products without ever leaving the Bitcoin ecosystem.
Users can begin trading on Vela Artha now and connect their wallet to BOB. Its non-custodial design ensures that traders retain full control of their assets at all times, while advanced market-making algorithms maintain deep liquidity for an optimal trading experience.
Velar CEO Mithil Thakore said: “The launch of the first Bitcoin PerpDex isn’t just a milestone for Velar and BOB, but for the entire Bitcoin DeFi ecosystem. It unlocks a powerful new use case for L2 assets while leveraging the untapped liquidity of the Bitcoin network. The ability to make perpetual swaps onchain forms a versatile DeFi primitive that will allow bitcoiners to do more with their assets.”
BOB Co-Founder Alexei Zamyatin added “Velar Artha’s launch on BOB is very exciting. As the first BTC PerpDex, it showcases how BOB’s hybrid L2 model can bring Bitcoin-native trading to the forefront, combining Bitcoin’s liquidity with real DeFi potential. This is Bitcoin scaling in action.”
The beta launch of Velar Artha PerpDex allows traders to begin accessing perpetual contracts with leverage of up to 20x. The mainnet launch has been bootstrapped with sufficient liquidity to ensure users can create leveraged positions for the most popular trading pairs. Initial liquidity will be gradually increased, allowing traders to interact with the platform’s full feature set.
DeFi users are invited to participate in Velar Artha’s beta phase and provide feedback and insights that will help to enhance the world’s first Bitcoin PerpDex. A host of upgrades are already scheduled for the coming months including additional trading pairs, enhanced UI/UX, advanced trading tools and analytics, and community governance initiatives.
Velar is on a mission to unlock the billions of dollars in untapped liquidity that exist on Bitcoin. Through innovations such as Velar Artha, Velar is pioneering new ways for BTC to be utilized onchain. As a result, bitcoiners can grow their digital wealth while retaining full custody of their assets.
The beta launch of Velar Artha PerpDex represents a significant leap forward in the Bitcoin ecosystem. For the first time, traders can engage with perpetual contracts directly on a Bitcoin-native platform, combining the security and liquidity of Bitcoin with the flexibility of perpetual swaps.
About Velar
Velar is building the user interface to access the most secure blockchain ever created. Velar Dharma enables anyone to effortlessly trade their favorite Bitcoin-based tokens via a user-friendly interface while Velar Artha serves as the world’s first Bitcoin PerpDex. Velar is laying the groundwork for a new era of Bitcoin-powered financial innovation while unlocking untapped liquidity and empowering users to take control of their digital assets.
Learn more: http://velar.com
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