TL;DR
- Velar and Bitlayer launch the first perpetual Bitcoin DEX on the layer 2 of the network, driving decentralized financial solutions based on BTC.
- The DEX will allow leveraged trading of assets, including BTC, without risks associated with centralized custody, expanding investment opportunities.
- Bitlayer brings advanced infrastructure on Bitcoin’s layer 2, ensuring secure execution of smart contracts and a reliable trading experience.
Velar and Bitlayer have announced the launch of the first decentralized exchange (DEX) perpetual of Bitcoin on the layer 2 of the network. This strategic collaboration aims to boost the development of decentralized financial solutions based on the leading cryptocurrency of the blockchain industry.
Velar Artha, as this DEX has been named, will allow leveraged trading of various assets, including Bitcoin (BTC), opening new doors for participation in DeFi without the risks associated with centralized custody. This means that users will be able to access broader and more flexible investment opportunities, efficiently and securely leveraging BTC capital.
🎉 We are excited to unveil our strategic partnership
🔥 We're bringing the world's first PerpDex on Bitcoin to @BitlayerLabs 🟧
BitLayer is the first #Bitcoin security-equivalent L2 based on the BitVM paradigm.
Together, we're making huge moves in the BTC ecosystem 🚀 pic.twitter.com/BExPujLdHv
— Velar (@VelarBTC) May 17, 2024
Bitlayer is responsible for providing advanced technological infrastructure. Their focus on Bitcoin’s layer 2, powered by BitVM, allows fast and secure execution of smart contracts, while maintaining the robust security inherent in the BTC network. This ensures that Velar Artha can offer a smooth and reliable trading experience for users.
Velar Artha: Empowering the DeFi Industry
Both companies aim to capitalize on an opportune moment, as the Bitcoin DeFi market is experiencing explosive growth. With a total locked value exceeding $1 billion and a significant increase in trading volume in the decentralized derivatives sector, the demand for DeFi solutions on the BTC network has never been higher.
Furthermore, the integration of the DEX with Bitlayer’s existing infrastructure will open up new opportunities and possibilities in the Bitcoin DeFi market. Bitlayer’s flexibility and efficiency, along with its Bitcoin-friendly approach, provide a conducive environment for the development and implementation of advanced decentralized financial applications.
The first perpetual Bitcoin DEX on the layer 2 of the network is a crucial advancement for both the development of the DeFi sector and BTC. Both companies are committed to innovation and technological excellence, opening the doors to new markets and opportunities.
