๐๐ฐ Unlocking Bitcoin's Potential with Velar ๐ฐ๐
๐ Let's dive into key features and potential of #VELAR in this captivating thread! ๐งต๐
1๏ธโฃ Introduction and Overview: Velar introduces a Bitcoin-based decentralized finance (DeFi) platform. It aims to revolutionize the DeFi landscape by its native token, $VELAR. This initiative is set to unlock trillions of dollars in dormant Bitcoin capital for the DeFi ecosystem.
2๏ธโฃ Technology and Feature: Velar utilizes an Automated Market Maker (AMM) liquidity model and offers token swaps, liquidity mining, staking, and an Initial DEX Offering (IDO) launchpad. It provides a decentralized exchange where users can trade various cryptocurrencies directly with each other without the need for intermediaries.
3๏ธโฃ Whitepaper Analysis: Velar is a DeFi protocol with Bitcoin finality that aims to unlock Bitcoinโs true potential by building a sophisticated suite of DeFi products on Bitcoin. Velar V1, codenamed โDharma,โ includes an automated liquidity protocol based on the โconstant product formula.โ
4๏ธโฃ Use Case: Velar platform is powered by its native token, $VELAR. The token serves as the backbone of the platform, providing liquidity and incentivizing users to contribute to the growth and development of the ecosystem. Apart from its core function, $VELAR has several other use cases that make it a valuable utility for users.
5๏ธโฃ Team and Leadership: Led by CEO Mithil Thakore, Velar's team includes COO Dan Reecer, Commercial Director Robinson Burkey, and Technical Advisor Michael Zargham. They bring diverse backgrounds in crypto exchanges, quant hedge funds, smart contract auditing platforms, and enterprise blockchain businesses.
6๏ธโฃ Partnerships: Velar has been audited by Strata labs and Coin Fabrik, ensuring robust security measures. It collaborates with investors like Alexei Zamyatin, Paul Taylor, Cem Ozar, Michael Chen, and others to strengthen its ecosystem.
7๏ธโฃ Security and Audits: Upholding security standards, Velar undergoes audits by Strata Labs and Coin Fabrik, ensuring a robust platform. The audit reports can be checked on their website.
8๏ธโฃ Tokenomics: With a total supply of 1 billion VELAR tokens and an initial circulating supply of approximately 59 million VELAR tokens, Velar's tokenomics include community rewards, treasury allocations, founder and team allocations, early purchasers, advisors, and airdrop allocations.
9๏ธโฃ Exchanges: VELAR is tradable on Bybit, Gate.io, Uniswap (UNI), and Velarโs own Dharma Automated Market Maker (AMM), providing users with multiple trading options.
๐ Recent Developments: Velar recently launched its token on Centralized exchanges, marking a significant milestone in its journey. This development is set to introduce trillions of dormant Bitcoin capital into the DeFi ecosystem.
1๏ธโฃ1๏ธโฃ Conclusion: Velar's vision to harness Bitcoin's potential in DeFi signifies a promising venture, shaping the future of decentralized finance. Stay tuned for further updates and innovations from Velar. ๐๐
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