Velar Sparks Bitcoin DeFi Revolution with $3.5M Boost
Feb. 02, 2024.
2 min. read. 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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