Velar secures $3.5m to develop world’s first PerpDEX on Bitcoin
On February 1, Velar, a Bitcoin (BTC) DeFi platform, successfully concluded its seed funding round, securing $3.5 million in capital from a diverse group of prominent Web3 investors. The round witnessed active participation from key ventures such as Bitcoin Startup Lab, CMS Holdings, Black Edge Capital, GBV, Cypher Capital, Trust Machines SPV, Transform Capital, Maple Block, and Samara Asset Group, as per information shared with Finbold. Leveraging the surging interest in DeFi, Velar is launching the world ’s first perpetual decentralized exchange (PerpDEX) on Bitcoin. With over $100 billion in liquidity attracted to the Ethereum (ETH) network, Velar aims to tap into Bitcoin’s $800 billion dormant liquidity, offering BTC holders the same value proposition and yields that have been so successful in the Ethereum ecosystem. Preparations for Dharma mainnet launch Cryptocurrency Luganodes adds support for Stacks, becomes Signer of Nakamoto upgrade ...