The Dawn of Bitcoin DeFi: Velar Mainnet Goes Live

livemint.com:

“With the launch of Velar Dharma Mainnet, we continue to push the boundaries of financial innovation with DeFi on Bitcoin. Our emphasis on accessibility and ease of use opens up the gate for a broader audience into a more inclusive, efficient, and secure ecosystem. It’s an exciting milestone for Velar, keeping it at the forefront of DeFi innovation in Bitcoin.

Kudos to the team for this remarkable achievement!" - Tejinder Singh Mor, Co-founder and CPO of Velar.It's essential to keep in mind that this is a Beta mainnet launch, where the Velar team will test for security flaws and scaling issues. Users are advised to proceed with caution during swaps and not provide liquidity until the stable version of Mainnet is officially rolled out. Velar aims to unlock Bitcoin's true potential by executing its planned versions: Velar Artha, Velar Kama, and Velar Moksha.

With these version upgrades, the protocol will introduce a series of features such as governance, concentrated liquidity DEX, a cross-chain bridge, a perpetual DEX on Bitcoin, and more. The governance feature will enable Velar token holders to participate in the decision-making process by allowing the token-holder community to take a central stage in setting the future direction of the platform. In addition to governance, the second version of Velar will also include a decentralized exchange (DEX) with concentrated liquidity inspired by Uniswap v3.

This will provide a more efficient trading experience for users, with reduced slippage and better trading fees. Besides these features, Velar's upcoming iterations will also introduce a perpetual derivatives exchange. This will enable users to trade perpetual contracts on Bitcoin and a variety of tokens with up to 20x