Category: Forex News

Velar Unveils Dharma AMM For Boosting Bitcoin DeFi Liquidity

By Published On: March 20, 20241.8 min readViews: 1290 Comments on Velar Unveils Dharma AMM For Boosting Bitcoin DeFi Liquidity

Velar Unveils Dharma AMM for Boosting Bitcoin DeFi Liquidity

In order to provide DeFi liquidity to the Bitcoin ecosystem, Bitcoin liquidity protocol Velar has announced the introduction of Dharma, an Automated Market Maker (AMM). Dharma, which is scheduled to launch on Bitcoin L2 Stacks on March 19, will increase the network’s DeFi capabilities.

Token pairings may now be completely traded onchain thanks to decentralized exchange introduced by Velar’s V1 Dharma. Through the introduction, additional DeFi capabilities will be made available and the growing Bitcoin ecosystem’s liquidity will be strengthened. Dharma offers sophisticated financial solutions for asset management, trading, and liquidity supply.

At launch, there will be support for two token pairings, and more tokens will be added on consecutive days after that. Initially, trading will be offered for STX-ABTC and STX-AEUSDC. Later, other pairings will be added.

Through the use of the Bitcoin network’s inherent security, Velar’s Dharma AMM offers a dependable and intuitive platform for decentralized finance operations. Its release will establish a new benchmark for DeFi’s ability to function on Bitcoin and provide the groundwork for the growth of DeFi services and apps.

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.”

DeFi’s expansion on Bitcoin has the ability to unlock $1 trillion in inactive capital and provide new opportunities for yield farming, lending, borrowing, and staking as well as new methods to be rewarded for providing liquidity. Users may keep self-custody of their assets and explore the vast possibilities in the decentralized finance space with Dharma.

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