Velar, a prominent innovator in Bitcoin decentralized finance (DeFi), has made a significant stride by forming a strategic partnership with Bitlayer to launch Velar Artha, the world’s first Perpetual Decentralized Exchange (PerpDex) on Bitlayer’s EVM-compatible Bitcoin Layer 2.
This groundbreaking PerpDex will revolutionize asset trading through perpetual contracts directly on the Bitcoin blockchain, offering unprecedented opportunities for traders. The platform prioritizes security and decentralization, leveraging the robust infrastructure of Bitcoin.
The collaboration signifies Velar’s expansion beyond Stacks and showcases a new era for Bitcoin DeFi. Velar Artha stands out by utilizing Bitcoin’s strengths while incorporating advanced trading features.
Mithil Thakore, Velar’s CEO, expressed enthusiasm for the partnership with Bitlayer, emphasizing their shared vision for Bitcoin as the basis for a new financial landscape. Charlie Yechuan Hu, Co-Founder of Bitlayer, echoed this sentiment, highlighting the platform’s innovative approach to Bitcoin DeFi.
Bitlayer’s cutting-edge platform, powered by BitVM, offers security-equivalent Layer 2 solutions for Bitcoin. Supporting various virtual machines, including an EVM-compatible environment, it streamlines DeFi application development, combining the advantages of Solidity tooling with Bitcoin’s unparalleled security.
Velar Artha aims to unleash the potential of Bitcoin by enabling users to engage in leveraged trading on diverse assets, including BTC. This move seeks to mobilize dormant capital within the Bitcoin ecosystem, allowing BTC holders to participate in DeFi without compromising security. Velar’s mission is to maximize the value of Bitcoin-based assets within a secure ecosystem known for its transaction finality.
The launch of Velar Artha on Bitlayer’s EVM-compatible Bitcoin Layer 2 is poised to transform the DeFi landscape, setting new benchmarks for security, decentralization, and financial innovation on the Bitcoin blockchain. This partnership represents a significant leap in expanding Bitcoin’s role in decentralized finance, promising to redefine how financial instruments are exchanged and safeguarded on the blockchain.