Velar Launches Innovative Bitcoin DEX Providing Yield and Liquidity for BTC Investors

Velar has launched the world’s first Bitcoin perpetual swaps decentralized exchange (DEX) in beta, attempting to create more utility around the world’s first cryptocurrency.
The new Velar Artha perpetual swaps
DEX
launched on BOB (Build on Bitcoin) on Sept. 16, according to an announcement shared with Cointelegraph.
The milestone launch could unlock newfound Bitcoin (
BTC
) liquidity for the ecosystem, according to Mithil Thakore, the co-founder and CEO of Velar.
The CEO told Cointelegraph:


Velar Artha Perp Dex. Source: Velar
Velar is among the companies building Bitcoin-based
decentralized finance (DeFi)
, also known as BTCFi, in a new technological paradigm that aims to bring DeFi capabilities to the world’s first blockchain network.
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Coinbase cbBTC token may revolutionize Bitcoin DeFi adoption
Bitcoin could dominate the DeFi space in the next five years
While Ethereum remains the established home of DeFi and smart contracts, increasingly more firms are building DeFi capabilities on the Bitcoin network.
The continued BTCFi innovation could see Bitcoin dominate the DeFi landscape in the next five years, according to Thakore, who explained:
Continued BTCFi innovation could make Bitcoin the “definitive platform for decentralized finance,” added the co-founder.
Related:
Bitcoin set for 3-month historic rally as analysts eye $92K BTC
Over 100 Bitcoin L2 chains are currently being developed
Layer-2 (L2) networks
like
Stacks
are essential for creating more utility around Bitcoin since the mainnet has no smart contract functionalities.
BTCFi could see an array of new use cases due to the over 100 L2s being developed around the world’s first blockchain network, explained Thakore:
The prediction comes nearly two weeks after Binance Labs and Tim Draper-backed Zest Protocol
launched its new BTCz token
, enabling Bitcoin holders to earn a staking yield on their BTC via Babylon Protocol.
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