DeFi
Velar collaborates with Build on Bitcoin for the launch of PerpDex
2024-05-21 09:18:06 ET
Pioneering Bitcoin DeFi Developer
Velar
announced a partnership with Build on Bitcoin (BOB) to support the launch of Velar Artha, the world’s first perpetual decentralized exchange (PerpDex) on Bitlayer’s EVM-enabled Bitcoin Layer 2.
Technical support and mainnet launch
BOB will provide technical support to optimize the development and launch of Velar Artha’s mainnet, leveraging its advanced development tools, analytics, wallets and blockchain infrastructure. This collaboration aims to accelerate the launch of PerpDex, ensuring a solid technical foundation.
Innovative decentralized exchange
Velar Artha will be the first PerpDex within the Bitcoin ecosystem, combining the security of Bitcoin with the developer-friendly EVM compatibility tool. The exchange will go live on Bitlayer, Bitcoin’s EVM-enabled layer 2. BOB, as a strategic partner, will play a crucial role in overseeing the security, decentralization and UI/UX of Artha deployment.
Statements from Velar and BOB executives
Mithil Thakore, CEO, Velar, said: “Collaborating with BOB for the launch of Velar Artha PerpDex marks a pivotal moment for us. Being one of their first projects, the first PerpDex highlights the mutual trust and shared vision between Velar and BOB. We are excited to start this journey together, pushing the boundaries of Bitcoin DeFi and bringing value to the Bitcoin community.
Alexei Zamyatin, co-founder of BOB, added: “We are excited to see the progress of Velar for its launch on BOB. The Velar team is one of the high-potential Bitcoin DeFi builders in the space, and we look forward to working with them to drive their user and TVL growth as part of the BOB DeFi ecosystem.
Unlocking DeFi Potential on Bitcoin
BOB leverages a hybrid L2 that combines the security of Bitcoin with the versatility of Ethereum, allowing developers to instantly build on top of Bitcoin using EVM. This partnership will help projects reduce time to market and take advantage of a specialized Bitcoin developer suite. Velar Artha will allow Bitcoin users to perpetually trade against assets, including BTC, and open leveraged long and short positions, introducing an essential DeFi building block to the Bitcoin ecosystem and supporting support new integrations.
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Velar collaborates with Build on Bitcoin for the launch of PerpDex
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