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Velar Collaborates With Build on Bitcoin (BOB) for PerpDex Launch

Panama Metropolis, Panama, Could twenty first, 2024, Chainwire

Pioneering Bitcoin DeFi developer Velar has introduced that it’s partnering with BOB (Build on Bitcoin) to help the launch of Velar Artha, the world’s first Perpetual Decentralized Trade (PerpDex) on Bitlayer’s EVM-compatible Bitcoin Layer 2.

BOB will present technical help to optimize the event and mainnet launch of Velar Artha, drawing upon its best-in-class developer tooling, analytics, wallets, and blockchain infrastructure. This may speed up the launch of the PerpDex and be certain that it’s anchored by a powerful technical basis.

Velar Artha will kind a primary of its form PerpDex throughout the Bitcoin ecosystem that mixes the safety of Bitcoin with the developer-friendly tooling facilitated by EVM compatibility. The decentralized change will go dwell on Bitlayer, the Bitcoin Layer 2 that helps the EVM. As one of many first strategic companions to help with Artha’s deployment, BOB will play a essential position in overseeing its safety, decentralization and UI/UX.

Velar CEO Mithil Thakore stated: “Collaborating with BOB for the launch of Velar Artha PerpDex marks a pivotal moment for us. Being one of their initial projects, the first PerpDex underscores the mutual trust and shared vision between Velar and BOB. We’re excited to pioneer this journey together, pushing the boundaries of Bitcoin DeFi and delivering value to the Bitcoin community.”

Co-founder of BOB, Alexei Zamyatin, added: “We’re excited to see Velar’s progress to launch on BOB. The Velar group is among the high-potential Bitcoin DeFi builders within the area and we look ahead to working with them on boosting their person and TVL development as a part of BOB’s DeFi ecosystem.”

BOB operates a hybrid L2 that combines the security of Bitcoin with the versatility of Ethereum. It enables developers familiar with EVM to start building on Bitcoin instantly. This allows projects to reduce time to market by taking advantage of a tailor-made Bitcoin developer suite.

Velar Artha will allow Bitcoin users to make perpetual swaps for assets including BTC and to open leveraged long and short positions. This will introduce a vital DeFi building block to the Bitcoin ecosystem whose composability will support further integrations. It will unlock dormant capital on Bitcoin while allowing DeFi innovation to flourish.

About Velar

Velar is on a mission to unlock Bitcoin’s true potential by developing a suite of powerful tools and products for DeFi. Known for creating the world’s first perpetual decentralized exchange (Perp DEX) on Bitcoin, Velar realizes the full value of Bitcoin-based assets within an ecosystem anchored by strong transaction finality and unrivaled security. 

Learn more: https://www.velar.com/ 

Avishay Litani
[email protected]

DailyBlockchain.News Admin

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