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Velar Sparks Bitcoin DeFi Revolution with $3.5M Boost

Feb. 02, 2024. 2 min. read. 1 Interactions

🚀💸 Velar ignites a Bitcoin DeFi revolution with $3.5M! 🌐⚡ Get ready for Artha, the future of leveraged trading on Bitcoin. 📈💼 Unleash the potential of your BTC! 🌟🔗 #VelarDeFi Revolution

In a groundbreaking move, crypto trading startup Velar has secured a robust $3.5 million in funding, setting the stage for an innovative overhaul of Bitcoin’s burgeoning DeFi sector. CEO Mithil Thakore revealed Velar’s audacious blueprint to CoinDesk: the launch of the premier perpetual swaps exchange powered by Bitcoin’s robust network, a daring venture given Bitcoin’s traditional limitations compared to its counterpart, Ethereum.

Navigating Bitcoin’s DeFi Terrain with Stacks’ Nakamoto Release

Bitcoin’s DeFi landscape is witnessing a transformation, courtesy of side chains and Layer-2 solutions, drawing their integrity from Bitcoin itself. Thakore’s strategic wager is on Stacks’ impending Nakamoto Release. This pivotal update promises the debut of sBTC, a synthetic bitcoin asset mirroring the value of BTC. The introduction of sBTC paves the way for Bitcoin enthusiasts to tap into the DeFi realm without relinquishing control of their assets, a game-changer in unlocking the latent potential of Bitcoin holdings.

Artha: The Future of Leveraged Trading on Bitcoin

Velar’s Artha, the v3 platform set for a Q2 2024 release, envisions a dynamic trading ecosystem where sBTC serves as the collateral backbone, enabling leveraged trading. However, Thakore acknowledges the nascent state of Bitcoin DeFi, attributing the slow progress to Bitcoin’s inherent 10-minute block times – an Achilles’ heel for trading settlements. The Nakamoto Release is set to dramatically slash this to a mere five seconds, potentially revolutionizing the pace of Bitcoin DeFi transactions.

Despite the theoretical appeal of Bitcoin DeFi, Thakore notes a cautious stance among Bitcoin holders towards leveraging their assets in novel ways. Yet, he remains optimistic, recognizing the transformative potential if even a fraction of Bitcoin owners embrace these new DeFi solutions. With Bitcoin’s widespread prevalence, even minimal shifts in holder behavior could trigger seismic market impacts, marking a new era in the world of decentralized finance.

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SOURCE: Crypto Startup Velar Plans Perpetual Swaps Exchange for Bitcoin DeFi After Raising $3.5M (coindesk.com)

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Lewis Farrell

38.38855 MPXR

Highly curious 🤔 about things that increase my awareness 🧠, expand my perception 👀, and make me open 🔄 to being a better person 🌟.

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