Nikolas Sargeant
Panama City, Panama, March 19th — Velar, a Bitcoin liquidity protocol, has revealed Dharma, its Automated Market Maker (AMM), aimed at amplifying DeFi liquidity within the Bitcoin ecosystem. Scheduled for deployment on Bitcoin L2 Stacks on March 19th, Dharma is poised to broaden the horizons of DeFi functionalities within the Bitcoin network.
The debut of Velar’s V1 Dharma marks the advent of decentralized exchange, enabling the seamless on-chain trading of token pairs. This launch is poised to enrich liquidity within the burgeoning Bitcoin environment while unlocking novel DeFi potentials. Dharma equips users with sophisticated financial instruments for liquidity provisioning, trading, and asset management.
Upon its inauguration, Dharma will support two token pairs, with plans for additional tokens to be integrated in the subsequent days. Initially, STX-ABTC and STX-AEUSDC will be available for trading, with the promise of more pairs being introduced over time.
Harnessing the robust security features of the Bitcoin network, Velar's Dharma AMM furnishes a dependable and user-centric platform for decentralized finance endeavors. Its rollout is poised to establish a new benchmark for DeFi operations on Bitcoin, laying a sturdy groundwork for the proliferation of DeFi applications and services.
Mithil Thakore, CEO of Velar, expressed, “The launch of our Dharma AMM mainnet signifies not just a milestone, but a testament to Velar's dedication to reshaping the DeFi landscape. Through this innovative platform, we aren't just embracing change; we are propelling it forward. By granting users the ability to leverage their assets in a secure, non-custodial setting, we are paving the path for a fresh era of financial autonomy. Today, we are not merely introducing a product; we are igniting a movement—one poised to redefine the trajectory of decentralized finance on Bitcoin."
The burgeoning DeFi sector within Bitcoin holds the potential to unlock $1 trillion in dormant capital, offering novel avenues for earning rewards through liquidity provisioning, as well as engaging in lending, borrowing, staking, and yield farming. With Dharma, users can uphold self-custody of their assets while delving into the myriad opportunities within the decentralized finance realm.
