Velar announced a partnership with Bitlayer to develop Velar Artha, the first-of-its-kind perpetual decentralized exchange platform. The PerpDex will be hosted on Bitcoin infrastructure.
Velar, a leading Bitcoin decentralized finance (DeFi) innovator, announced its collaboration with Bitlayer to launch a perpetual decentralized exchange (PerpDEX). The PerpDEX will be hosted on Bitcoin infrastructure and built on Bitlayer’s EVM-compatible Bitcoin Layer 2.
According to Velar, Velar Artha will expand trading opportunities for decentralized finance on the Bitcoin network, allowing crypto traders to trade perpetual contracts directly on the Bitcoin blockchain.
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Velar CEO Talks About the Partnership
This partnership marks Velar’s first project outside Stacks, demonstrating its mission to expand the PerDEX to the strategic partnership.
Mithil Thakore, Velar’s CEO said,
“Partnering with Bitlayer for the launch of Velar Artha PerpDEX represents a significant milestone for the entire Bitcoin ecosystem. Charlie Hu and I share a common vision for Bitcoin’s potential as the foundation for a new financial infrastructure and I couldn’t be more excited to work with someone who truly understands and shares that vision. Together, we are not just building products, but paving the way for the future of finance on Bitcoin.”
The collaboration between the two companies will undoubtedly open up the Bitcoin ecosystem to advanced DeFi features. Velar Artha also seeks to benefit from Bitcoin Network’s stability, security, and efficiency.
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Charlie Yechuan Hu, the Co-founder, also shared his thoughts on their partnership with Velar. His experience building Bitlayer, the first Bitcoin security Layer-2 built using the BitVM, will help Velar Artha grow.
“Bitlayer aims to build a new Bitcoin DeFi ecosystem with a native layer 2 solution that offers 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 Co-founder Charlie Hu.
Bitlayer Partners with Velar
Velar and Bitlayer are coming together to revolutionize the crypto industry. Velar aims to unlock the Bitcoin network’s true potential by creating powerful DeFi products on the Bitcoin chain. Considering Bitlayer is the first Bitcoin security-equivalent Layer 2, the two organization’s partnerships can propel DeFi technology to a new realm in the Bitcoin ecosystem.
