Velar, a leading innovator in decentralized finance (DeFi) on the Bitcoin blockchain, has made a groundbreaking announcement of its strategic partnership with Bitlayer. Together, they will launch Velar Artha, the world’s first Perpetual Decentralized Exchange (PerpDex) on Bitlayer’s EVM-compatible Bitcoin Layer 2.
This revolutionary PerpDex will enable traders to trade a wide range of assets through perpetual contracts directly on the Bitcoin blockchain, presenting unprecedented opportunities. The platform ensures the highest levels of security and complete decentralization for all transactions by leveraging Bitcoin’s robust infrastructure.
This partnership signifies Velar’s expansion beyond Stacks, marking a significant milestone as Velar collaborates with other strategic partners. Velar Artha represents a leap forward in Bitcoin DeFi, offering a trading platform that maximizes Bitcoin’s inherent strengths while providing advanced trading capabilities.
Mithil Thakore, CEO of Velar, highlighted the importance of this collaboration, stating, “Partnering with Bitlayer for the launch of Velar Artha PerpDEX signifies a significant milestone for the entire Bitcoin ecosystem. I am thrilled to work with someone like Charlie Hu, who truly understands and shares our vision of Bitcoin’s potential as the foundation for a new financial infrastructure. Together, we are not only building products but also paving the way for the future of finance on Bitcoin.”
Charlie Yechuan Hu, Co-Founder of Bitlayer, echoed this sentiment, saying, “Bitlayer aims to establish a new Bitcoin DeFi ecosystem with a native layer 2 solution that provides Bitcoin-equivalent security through the BitVM approach. The integration of Velar on Bitlayer is a significant development for the DeFi space, exploring the asymmetric opportunities within the Bitcoin DeFi ecosystem. Bitlayer is excited to support Velar’s perpetual DEX DeFi product to meet the on-chain perpetual trading demand in the Bitcoin community.”
Bitlayer’s platform, built using BitVM, is the first to offer Bitcoin security-equivalent Layer 2 solutions. It simplifies the creation of DeFi applications by supporting multiple virtual machines, including a fully EVM-compatible environment. This compatibility allows developers to utilize Solidity’s robust tooling while benefiting from Bitcoin’s unparalleled security.
Velar Artha, the first PerpDex on Bitcoin, will empower users to open leveraged long and short positions on various assets, including BTC. Its aim is to unlock billions of dollars in idle capital within the Bitcoin ecosystem, enabling BTC holders to participate in DeFi without the risks associated with custodial services. Velar’s mission is to unlock Bitcoin’s true potential by developing powerful tools and products for DeFi.
The company focuses on realizing the full value of Bitcoin-based assets within an ecosystem known for its strong transaction finality and unrivaled security. The launch of Velar Artha on Bitlayer’s EVM-compatible Bitcoin Layer 2 is set to revolutionize the DeFi space, setting new standards for security, decentralization, and financial innovation on the Bitcoin blockchain. This partnership represents a significant step forward in expanding Bitcoin’s role in decentralized finance, promising to revolutionize the trading and security of financial instruments on the blockchain.
