Category: Forex News

Velar Launches Dharma AMM to Unlock DeFi Liquidity on Bitcoin

By Published On: March 19, 20241.9 min readViews: 1960 Comments on Velar Launches Dharma AMM to Unlock DeFi Liquidity on Bitcoin

Panama City, Panama, March 19th – Bitcoin liquidity protocol Velar announces Dharma, its Automated Market Maker (AMM) to inject DeFi liquidity into the Bitcoin ecosystem. Launching today on Bitcoin L2 Stacks, Dharma expands DeFi capabilities for the Bitcoin network.

Velar’s V1 Dharma introduces decentralized exchange, enabling fully onchain trading of token pairs.  This launch deepens liquidity within the growing Bitcoin ecosystem and unlocks new DeFi features. Dharma equips users with advanced financial tools for managing assets, providing liquidity, and trading.

The platform will initially support two token pairs, with more tokens added progressively. STX-ABTC and STX-AEUSDC will be the first available for trading, followed by the introduction of further pairs.

By leveraging the inherent security of the Bitcoin network, Velar’s Dharma AMM offers  a reliable and user-friendly platform for decentralized finance operations. Its launch sets a new standard for how DeFi can function on Bitcoin, providing a foundation for DeFi applications and services to flourish.

Velar CEO Mithil Thakore said: “Celebrating the launch of our Dharma AMM mainnet is more than just a milestone—it’s a testament to Velar’s commitment to revolutionizing the DeFi landscape. With this innovative platform, we’re not just embracing change; we’re driving it. By offering users the opportunity to leverage the power of their assets in a secure, non-custodial environment, we’re paving the way for a new era of financial freedom. Today, we’re not just launching a product; we’re launching a movement—one that will shape the future of decentralized finance on Bitcoin.”

The growth of DeFi on Bitcoin has the potential to unlock $ 1 trillion in dormant capital and provide new ways to earn rewards for providing liquidity and participate in lending, borrowing, staking, and yield farming. With Dharma, users can retain self-custody of their assets while exploring the many possibilities available within the world of decentralized finance.

Also Read: Crypto Landscape: Journey From Bitcoin to DeFi






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