Velar, a pioneering developer in Bitcoin DeFi, has partnered with BOB (Build on Bitcoin) to launch Velar Artha, the world’s first Perpetual Decentralized Exchange (PerpDex) on Bitlayer’s EVM-compatible Bitcoin Layer 2.
BOB will provide technical support to optimize the development and mainnet launch of Velar Artha, leveraging its top-notch developer tools, analytics, wallets, and blockchain infrastructure. This collaboration will expedite the PerpDex launch and ensure its robust technical underpinning.
Velar Artha will be a groundbreaking addition to the Bitcoin ecosystem, marrying Bitcoin’s security with the developer-friendly features facilitated by EVM compatibility. The decentralized exchange will debut on Bitlayer, the Bitcoin Layer 2 platform supporting the EVM. As a key strategic partner in Artha’s deployment, BOB will oversee security, decentralization, and user experience.
Velar CEO Mithil Thakore stated, “Teaming up with BOB for the Velar Artha PerpDex launch signifies a significant milestone for us. As one of their initial projects, our first PerpDex reflects the mutual trust and shared vision between Velar and BOB. We’re thrilled to embark on this journey together, pushing the boundaries of Bitcoin DeFi and bringing value to the Bitcoin community.”
BOB Co-founder Alexei Zamyatin commented, “We’re thrilled to witness Velar’s progress toward launch on BOB. Velar’s team is among the promising Bitcoin DeFi innovators, and we’re eager to collaborate on enhancing their user base and TVL growth as part of BOB’s DeFi ecosystem.”
BOB operates a hybrid L2 platform that combines Bitcoin’s security with Ethereum’s versatility, allowing EVM-savvy developers to build on Bitcoin instantly. This streamlined approach enables projects to accelerate time to market by utilizing a bespoke Bitcoin developer suite.
Velar Artha will empower Bitcoin users to engage in perpetual swaps for assets such as BTC and to open leveraged long and short positions. This introduction will provide a crucial DeFi cornerstone to the Bitcoin ecosystem, fostering further integrations and unlocking dormant capital on Bitcoin while catalyzing DeFi innovation.
