Velar's PerpDEX Launch: Pioneering Bitcoin DeFi with $3.5M Seed Fund and Innovative Product Suite

Velar, a groundbreaking project in the crypto space, is set to revolutionize decentralized trading with the launch of the world's first Perpetual Decentralized Exchange (PerpDEX) on the Bitcoin network. This ambitious endeavor is backed by a substantial $3.5 million seed fund, signifying a significant step towards unlocking the full potential of decentralized finance (DeFi) on the Bitcoin blockchain.

In the ever-evolving landscape of decentralized finance (DeFi), Velar is set to make waves with a groundbreaking initiative backed by a substantial $3.5 million seed fund. This venture aims to launch the world's first Perpetual Decentralized Exchange (PerpDEX) on the Bitcoin network, unlocking a significant $800 billion of dormant liquidity within Bitcoin's DeFi ecosystem. With key participants such as Bitcoin Startup Lab, CMS Holdings, and others, Velar is poised to redefine the possibilities for Proof-of-Work and Bitcoin as the base layer of DeFi. This article delves into the details of Velar's ambitious project, exploring its funding round, key features, and its mission to challenge Ethereum's dominance in the DeFi space.

Key Points:

1. PerpDEX Innovation on Bitcoin:

  Velar's PerpDEX is poised to be a trailblazer as the world's first decentralized exchange operating on the Bitcoin network. This innovation marks a significant departure from the predominant decentralized exchanges that are commonly associated with the Ethereum blockchain. By leveraging the capabilities of the Bitcoin network, Velar aims to provide users with a decentralized trading experience while tapping into the security and robustness of the Bitcoin blockchain.

2. Decentralized Trading Redefined:

  The introduction of PerpDEX is expected to redefine decentralized trading by introducing perpetual swaps on the Bitcoin blockchain. Perpetual swaps, also known as perpetual contracts, are derivative contracts that closely track the price of the underlying asset, offering traders the ability to speculate on price movements without holding the actual asset. Velar's PerpDEX on Bitcoin will bring this innovative trading instrument to the Bitcoin ecosystem, enhancing the variety of financial products available to users.

3. Seed Fund Backing:

  Velar's ambitious project is supported by a substantial $3.5 million seed fund. This financial backing not only underscores the confidence of investors in the project but also provides Velar with the necessary resources to drive development, marketing, and user adoption. The significant seed fund positions Velar as a well-funded player in the decentralized finance space, capable of making a substantial impact with the launch of PerpDEX.

4. Unlocking DeFi Potential on Bitcoin:

  While decentralized finance has thrived on blockchain networks like Ethereum, Velar's initiative to launch PerpDEX on Bitcoin aims to unlock the untapped potential of DeFi on the Bitcoin blockchain. By introducing advanced trading features and financial instruments on Bitcoin, Velar seeks to bridge the gap between decentralized trading and Bitcoin's established position as a store of value.

5. Security and Robustness of Bitcoin:

  Leveraging the Bitcoin blockchain for decentralized trading brings inherent advantages in terms of security and network robustness. Bitcoin is renowned for its resilience and has maintained a high level of security since its inception. Velar's decision to build PerpDEX on Bitcoin reflects a strategic choice to capitalize on these attributes, providing users with a secure and reliable decentralized trading platform.

6. Implications for the Crypto Industry:

  Velar's initiative to launch PerpDEX on Bitcoin adds a new layer of innovation to the crypto industry. It expands the capabilities of the Bitcoin network beyond its traditional role, demonstrating the adaptability of blockchain technology. Additionally, the success of Velar's project could pave the way for more DeFi initiatives on the Bitcoin blockchain, contributing to the broader evolution of decentralized finance.

Velar Set to Transform Bitcoin DeFi with $3.5M Seed Fund and PerpDEX Launch

Velar, a pioneering Bitcoin-focused DeFi platform, is gearing up to launch the world's first Perpetual Decentralized Exchange (PerpDEX) on Bitcoin, backed by a substantial $3.5 million seed fund. The platform, with its eventual product suite comprising an Automated Market Maker (AMM), project launchpad, and PerpDEX, aims to tap into the significant dormant liquidity within Bitcoin's DeFi ecosystem.

Seed Fund Backing:

 Velar's recent funding round witnessed participation from prominent ventures, including Bitcoin Startup Lab, CMS Holdings, Black Edge Capital, GBV, Cypher Capital, and others. Angel investors such as Cem Özer, Co-Founder and CEO of Sovereign Labs, and Alexei Zamyatin, Co-Founder of Build on Bitcoin (BoB), also contributed. The $3.5 million seed fund provides Velar with the financial resources to drive the development of its groundbreaking initiatives.

Mission and Vision:

 Mithil Thakore, Co-Founder and CEO of Velar, emphasized the platform's mission to make Proof-of-Work and Bitcoin the base layer of DeFi. The funding round's success validates Velar's commitment to redefining possibilities in the DeFi space, aiming to unlock $800 billion worth of dormant liquidity within the Bitcoin ecosystem. Velar envisions offering BTC holders similar value propositions and yields that have been successful on the Ethereum network.

Velar's Product Suite:

 Velar's product suite includes an Automated Market Maker (AMM), a project launchpad, and PerpDEX. The introduction of PerpDEX is particularly noteworthy as it positions Velar as the first platform to bring perpetual swaps to the Bitcoin network. The project aims to provide BTC holders with the opportunity to participate in decentralized trading and earn rewards, mirroring the success of similar ventures on the Ethereum network.

Institutional Participation:

 PerpDEX is designed to enable institutions to utilize their dormant Bitcoin holdings as collateral in a non-custodial manner. This opens a unique avenue for institutional participation in decentralized finance, addressing the growing interest from traditional financial entities in the crypto space.

Strengthening DeFi on Bitcoin:

 Velar's focus on utilizing Bitcoin's Layer 2 solution, Stacks, for the mainnet launch of Dharma indicates a commitment to contribute to the emergence of decentralized financial ecosystems on Bitcoin. The platform's eventual Layer 2-agnostic protocol suggests flexibility in integrating with other leading Bitcoin Layer 2 solutions, showcasing Velar's commitment to challenging Ethereum's dominance in the DeFi landscape.

Expertise and Timeline:

 The founding team of Velar consists of fintech and blockchain veterans with extensive experience in the Web3 space. Their expertise, ranging from crypto derivatives trading to institutional sales, positions Velar as a formidable player in the decentralized finance arena. The launch of Velar Artha, the PerpDEX component, is scheduled for the second quarter of 2024.

In conclusion, Velar's upcoming launch of PerpDEX on Bitcoin, fueled by a significant seed fund, signifies a major milestone in the evolution of decentralized finance on the Bitcoin network. The platform's vision, innovative product suite, and commitment to unlocking dormant liquidity position Velar as a key player in the broader DeFi landscape. As Velar prepares to challenge Ethereum's dominance, the crypto community eagerly anticipates the transformative impact it could have on reshaping the decentralized financial ecosystem on Bitcoin. Stay tuned for the unveiling of Velar Artha and the next chapter in Bitcoin-focused DeFi innovation.

Velar's upcoming launch of the world's first Perpetual Decentralized Exchange on Bitcoin, coupled with the substantial seed fund backing, marks a significant development in the crypto space. This ambitious project not only introduces innovative trading features to the Bitcoin ecosystem but also showcases the adaptability and transformative potential of blockchain technology. As Velar embarks on this groundbreaking journey, the crypto community awaits the unveiling of PerpDEX and its potential impact on reshaping the landscape of decentralized finance on the Bitcoin blockchain.

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