Bitcoin trading protocol Velar announced the beta launch of its perpetual swaps decentralized exchange (DEX), Velar Artha PerpDex, on the hybrid Layer 2 network BOB. This marks the first instance of introducing on-chain perpetual markets to the Bitcoin ecosystem.
“The launch of the first Bitcoin PerpDex isn’t just a milestone for Velar and BOB, but for the entire Bitcoin DeFi ecosystem,” said Velar Chief Executive Officer Mithil Thakore in a written statement. “It unlocks a powerful new use case for L2 assets while leveraging the untapped liquidity of the Bitcoin network. The ability to make perpetual swaps on-chain forms a versatile DeFi primitive that will allow bitcoiners to do more with their assets,” he added.
The mainnet launch of Velar Artha PerpDex introduces users to the features and capabilities of the first Bitcoin-native DEX for futures trading.
By harnessing Bitcoin’s strong security and network effects, alongside the flexibility and capital efficiency of perpetual contracts, Velar Artha paves the way for a new era in decentralized finance (DeFi). Built on the BOB network, the platform offers fast trade execution, improved scalability, and lower transaction costs, all while upholding Bitcoin’s security guarantees. This setup enables traders to interact with advanced financial products without departing from the Bitcoin ecosystem.
Users can start trading on Velar Artha by connecting their wallets to the BOB network. The platform’s non-custodial nature guarantees that traders retain complete control over their assets, while advanced market-making algorithms ensure deep liquidity for an optimal trading experience.
Velar Artha PerpDex Beta Offers 20x Leverage
Furthermore, with the beta introduction of Velar Artha PerpDex, traders can access perpetual contracts with leverage of up to 20x. The mainnet launch is supported by a strong liquidity pool, enabling individuals to open leveraged positions in popular trading pairs. Initial liquidity will be progressively increased, offering traders full access to the platform’s features.
Additionally, DeFi users are encouraged to join the beta phase of Velar Artha and share their feedback to help refine the exchange. Notably, several upgrades are planned for the near future, including new trading pairs, improved user interface and experience, advanced trading tools and analytics, and initiatives for community governance.
“Velar Artha’s launch on BOB is very exciting,” said BOB Co-Founder Alexei Zamyatin in a written statement. “As the first BTC PerpDex, it showcases how BOB’s hybrid L2 model can bring Bitcoin-native trading to the forefront, combining Bitcoin’s liquidity with real DeFi potential. This is Bitcoin scaling in action,” he added.
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