Velar has unveiled the first-ever decentralized perpetual exchange built natively on the Bitcoin network.
Focused on developing sophisticated trading products and user interfaces for Bitcoin-backed assets, Velar stated that this launch signals a transformative moment for decentralized finance on Bitcoin (BTC).
Operated on Stacks, a layer 2 solution for Bitcoin, the platform enables users to trade perpetual futures with leverage while retaining complete control over their assets.
The exchange is now accessible at perpdex.velar.com and features a trading pair of sBTC-USDh. USDh, created by Hermetica, is the inaugural synthetic dollar tailored specifically for Bitcoin DeFi and will act as the primary trading pair throughout the platform.
Trading on Bitcoin without compromise
Velar PerpDex leverages the Stacks blockchain’s five-second block times, decentralized nature, and Bitcoin-backed finality. By fusing significant liquidity and a strong trading infrastructure with a Bitcoin-native experience, the platform aims to enhance capital efficiency for BTC holders.
“The launch of the first PerpDEX on Bitcoin is a landmark achievement for the future of DeFi on Bitcoin, allowing traders to engage in leverage and deep liquidity while remaining within the Bitcoin ecosystem,” stated Velar CEO Mithil Thakore.
Designed for Bitcoin DeFi
Perpetual trading ranks among the most active arenas in crypto markets. Until recently, it has largely been out of reach for Bitcoin users, often necessitating the use of wrapped tokens or custodial services. Velar’s collaboration with Hermetica’s USDh stablecoin addresses this gap by facilitating Bitcoin-native perpetual contracts, supported by a synthetic, yield-generating dollar.
“Perpetual trading is one of the crucial offerings in crypto, and with Velar, it’s finally available on Bitcoin,” remarked Jakob Schillinger, CEO of Hermetica.
With the introduction of PerpDex, Velar aims to establish itself as a key foundation for Bitcoin-native financial services, empowering BTC holders to utilize advanced trading capabilities while remaining entirely within the Bitcoin-secured ecosystem.