Velar Partners with Built on Bitcoin for Industry-First PerpDex on Bitcoin Layer 2
Velar Partners with Built on Bitcoin for Industry-First PerpDex on Bitcoin Layer 2
Velar, a Bitcoin (BTC) decentralized finance (DeFi) platform, has announced a partnership with Build on Bitcoin (BOB) supporting the launch of Velar Artha, the world’s first Perpetual Decentralized Exchange (PerpDex) on Bitlayer’s EVM-compatible Bitcoin Layer 2. The collaboration aims to expedite the launch of the PerpDex, ensuring a robust technical foundation.
Bringing DEXs to Bitcoin Layer 2
Velar Artha promises to be a trailblazing PerpDex within the Bitcoin ecosystem, merging Bitcoin’s security with the developer-friendly environment provided by Ethereum Virtual Machine (EVM) compatibility. The decentralized exchange will debut on Bitlayer, a Bitcoin Layer 2 that supports the Ethereum Virtual Machine (EVM).
- BOB will play a crucial role in overseeing the platform’s security, decentralization, and user experience.
- Velar Artha empowers users to perform perpetual swaps for assets like BTC and open leveraged long and short positions.
Perpetual Swaps on Velar Artha
This model propels DeFi innovation forward by fostering further integrations and unlocking dormant capital on Bitcoin. The partnership with BOB signifies a significant step in boosting user and TVL growth within BOB’s DeFi ecosystem.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.