Panama Metropolis, Panama, March nineteenth, 2024, Chainwire
Bitcoin liquidity protocol Velar has introduced the launch of Dharma, its Automated Market Maker (AMM) to convey DeFi liquidity to the Bitcoin ecosystem. Set to go dwell on Bitcoin L2 Stacks on March nineteenth, Dharma will broaden the DeFi capabilities of the Bitcoin community.
Velar’s V1 Dharma introduces decentralized trade, permitting token pairs to be traded totally onchain. The launch will deepen liquidity throughout the burgeoning Bitcoin ecosystem and unlock new DeFi capabilities. Dharma offers customers with superior monetary instruments for liquidity provision, buying and selling, and asset administration.
Two token pairs will probably be supported upon launch with extra tokens set to be added on consecutive days. STX-ABTC and STX-AEUSDC will initially be out there for buying and selling earlier than being complemented by the introduction of additional pairs.
By leveraging the inherent safety of the Bitcoin community, Velar’s Dharma AMM offers a dependable and user-friendly platform for decentralized finance operations. Its launch will set a brand new customary for the way DeFi can function on Bitcoin and supply a basis for DeFi purposes and companies to flourish.
Velar CEO Mithil Thakore mentioned: “Celebrating the launch of our Dharma AMM mainnet is greater than only a milestone—it is a testomony to Velar’s dedication to revolutionizing the DeFi panorama. With this progressive platform, we’re not simply embracing change; we’re driving it. By providing customers the chance to leverage the facility of their property in a safe, non-custodial atmosphere, we’re paving the best way for a brand new period of monetary freedom. At present, we’re not simply launching a product; we’re launching a motion—one that can form the way forward for decentralized finance on Bitcoin.”
The expansion of DeFi on Bitcoin has the potential to unlock $ 1 trillion in dormant capital and supply new methods to earn rewards for offering liquidity and take part in lending, borrowing, staking, and yield farming. With Dharma, customers can retain self-custody of their property whereas exploring the numerous prospects out there throughout the world of decentralized finance.
About Velar
Velar is on a mission to unlock Bitcoin’s true potential by growing a set of highly effective instruments and merchandise for DeFi. Dharma is Velar’s AMM that incentivizes liquidity provision and buying and selling on Stacks, the main Bitcoin L2. Velar realizes the total worth of Bitcoin-based property inside an ecosystem anchored by robust transaction finality and unmatched safety.
Be taught extra: https://www.velar.co/
Contact
Avishay Litani
pr@marketacross.com
