Velar launches world’s first Bitcoin PerpDex in Panama, September 2024

On September 16, 2024, Velar announced the beta launch of Velar Artha, a decentralized exchange (DEX) for perpetual swaps built on the Bitcoin layer-2 solution, BOB. This innovative platform allows users to trade Bitcoin-native perpetual contracts, leveraging the security and liquidity of the Bitcoin network while offering enhanced scalability and reduced transaction costs. The non-custodial design ensures that traders maintain full control over their assets, a significant advantage in the decentralized finance (DeFi) space. Velar Artha enables traders to access perpetual contracts with leverage of up to 20x, catering to the growing demand for advanced trading options within the Bitcoin ecosystem. The platform has been launched with sufficient liquidity to support popular trading pairs, inviting DeFi users to participate in the beta phase and provide feedback for future enhancements. This initiative is part of Velar's broader mission to unlock the untapped liquidity within the Bitcoin network. The launch has been praised by industry leaders, with Velar's CEO highlighting its importance for the entire Bitcoin DeFi ecosystem. The platform is expected to introduce various upgrades in the coming months, including additional trading pairs, improved user interface, advanced trading tools, and community governance initiatives. These developments aim to enhance the trading experience and further integrate Bitcoin into the DeFi landscape. Overall, the introduction of Velar Artha marks a significant advancement in the utilization of Bitcoin onchain, providing traders with new opportunities to engage with their assets in a decentralized manner. This pioneering effort showcases the potential of Bitcoin-native trading and sets the stage for future innovations in the DeFi sector.