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Key takeaways
$VELAR is set to make history as the first Bitcoin ecosystem project to launch on a top crypto exchange.
The collaboration between Velar and Bybit signifies a notable advancement for Bitcoin's role in DeFi
Velar is poised to unlock the full potential of Bitcoin, mirroring the advancements seen on Ethereum.
Velar, a pioneering Bitcoin liquidity protocol, is set to make waves by introducing trillions of dormant Bitcoin capital into the DeFi ecosystem. This significant development comes as Velar announces its Initial Exchange Offering (IEO) on Bybit, a leading exchange known for its immense trading volume and comprehensive derivatives offerings.
? Exciting news! ?
— Velar (@VelarBTC) March 27, 2024
Our token ($VELAR) is set to make history with @Bybit_Official as the first Bitcoin ecosystem project to launch on a top-three exchange.
This is just the beginning of our journey to revolutionize DeFi on Bitcoin. Stay tuned for details on our TGE, IDO,… https://t.co/pwICs2zBKr
Bybit is a robust cryptocurrency platform and offers a professional environment where crypto enthusiasts engage in trading activities. Velar’s listing on Bybit on April 3 marks a crucial step in its journey to enhance liquidity within the Bitcoin network and introduce innovative DeFi capabilities.
This collaboration represents an important milestone for the Bitcoin ecosystem. It illustrates the potential within Bitcoin’s vast reserves. With Ethereum’s DeFi ecosystem boasting over $50 billion in liquidity, the integration of Bitcoin into DeFi could unlock unprecedented opportunities for growth and innovation. Velar aims to bridge this gap by offering similar yield opportunities that have been instrumental in the growth of smart contract platforms like Ethereum.
“Having Bybit's trust is a significant endorsement for us at Velar. It's amazing to see the hard work of our team receive support, especially as we're poised to launch the world's first Perp Dex on Bitcoin,” said Velar’s Co-Founder & CPO, Tejinder Singh Mor. “This milestone not only validates our team's efforts but also highlights the potential of our products to make a meaningful impact in the Bitcoin DeFi space. We're excited to be at the forefront of this innovation, driving forward the integration of Bitcoin DeFi with trusted partners like Bybit by our side."
Dharma, a new era of financial tools on Bitcoin
Dharma, Velar’s native AMM and DEX, is offering a suite of financial tools for Bitcoin liquidity, including swaps, liquidity pools, staking, yield farming, and an IDO launchpad. This platform is making Bitcoin a more versatile and functional asset in the DeFi space. In just two weeks, Dharma has attracted over 150,000 users, demonstrating the community's eagerness for Bitcoin-based DeFi solutions.
Mithil Thakore, Velar’s Co-Founder & CEO, encapsulates the sentiment, emphasizing the global interest and adoption of Bitcoin ecosystem projects that this listing could entail for Bitcoin in DeFi.
Wrapping up
The collaboration between Velar and Bybit indicates a shift towards more accessible and diversified financial products. With the support of platforms like Bybit, Velar is poised to unlock the full potential of Bitcoin. As the space continues to grow, these types of developments are set to redefine Bitcoin's role in the financial world. This strategic move could catalyze a broad-based adoption of Bitcoin in DeFi. mirroring the innovation seen in Ethereum's ecosystem.