Velar launches Dharma to bring DeFi liquidity to Bitcoin ecosystem

Velar launches Dharma to bring DeFi liquidity to Bitcoin ecosystem
фото показано с : invezz.com

2024-3-20 16:02

Bitcoin liquidity protocol Velar has announced the launch of Dharma, its Automated Market Maker (AMM), aimed at bringing DeFi liquidity to the Bitcoin ecosystem.

Set to go live on Bitcoin L2 Stacks on March 19, Dharma will expand the DeFi capabilities of the Bitcoin network.

What is V1 Dharma?

Velar’s V1 Dharma introduces decentralized exchange, allowing token pairs to be traded fully onchain.

The launch is poised to deepen liquidity within the burgeoning Bitcoin ecosystem and unlock new DeFi capabilities.

Dharma provides users with advanced financial tools for liquidity provision, trading, and asset management.

Initial token pairs

Two token pairs will be supported upon launch, with additional tokens set to be added on consecutive days.

STX-ABTC and STX-AEUSDC will initially be available for trading before being complemented by the introduction of further pairs.

Inherent security and reliability

By leveraging the inherent security of the Bitcoin network, Velar’s Dharma AMM provides a reliable and user-friendly platform for decentralized finance operations.

Its launch will set a new standard for how DeFi can operate on Bitcoin and provide a foundation for DeFi applications and services to flourish.

What Velar CEO says?

Velar CEO Mithil Thakore expressed his enthusiasm for the launch, stating,

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 post Velar launches Dharma to bring DeFi liquidity to Bitcoin ecosystem appeared first on Invezz

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Источник: invezz.com

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