On April 3, Bybit, one of the top cryptocurrency exchanges, will list VELAR, the native token of Bitcoin liquidity protocol Velar. This marks a significant milestone for the Bitcoin ecosystem and shows the growing interest and adoption of Bitcoin projects on a global scale.
VELAR will be launched on Bybit through an initial exchange offering (IEO), coinciding with its Initial DEX offering. This aligns with Velar’s roadmap to accelerate its growth and adoption in the global marketplace. Bybit’s position as a top tier exchange platform will play a crucial role in this milestone.
According to Velar’s announcement, this is a significant step for the DeFi ecosystem on Bitcoin. It is expected to boost liquidity and utility within the Bitcoin DeFi ecosystem, tapping into over $1 trillion in dormant BTC capital. This offers Bitcoin holders the opportunity to leverage the benefits of smart contracts, including yields.
The launch of VELAR on Bybit comes after the successful launch of Dharma, an automated market maker and decentralized exchange. With over 150k users, Dharma offers features such as token swaps, liquidity pools, staking, and yield farming. As Bitcoin continues to see unprecedented growth, the new era of DeFi, NFTs, and gaming presents a massive opportunity for Velar as a first mover in bringing more BTC into the DeFi landscape.
In addition, Velar will soon launch its V2 mainnet, introducing a Bitcoin-native perpetual DEX platform that offers up to 20x leverage. This pioneering non-custodial platform will further enhance the DeFi options available for Bitcoin holders.
As the Bitcoin DeFi ecosystem continues to grow, Velar’s listing on Bybit is a significant step towards bridging the gap between Bitcoin and DeFi. It marks a pivotal moment for the entire Bitcoin ecosystem and paves the way for future projects. Share this article and stay updated on the latest developments in the cryptocurrency world.
