Velar has launched the world's first decentralized perpetuals exchange on Bitcoin, named PerpDex. This marks a breakthrough in Bitcoin DeFi, allowing users to trade with leverage while retaining full custody of their assets.
Launch of Velar PerpDex on Bitcoin
Velar's PerpDex is now live, offering the sBTC-USDh trading pair. Developed by Hermetica, USDh is the first synthetic Bitcoin dollar. Additional pairs will be added, enabling Stacks users to open long and short positions on several assets, including BTC.
Features and Benefits of the Exchange
Velar PerpDex provides powerful trading features with access to deep liquidity and robust security. Hosted on Stacks' Bitcoin L2, it benefits from five-second block times, true decentralization, and 100% Bitcoin finality.
Leadership Opinions from Velar and Hermetica
Velar CEO Mithil Thakore stated: 'Our goal has always been to build core trading infrastructure that keeps users and liquidity on Bitcoin. Launching PerpDEX on Bitcoin is a defining milestone for the future of DeFi on Bitcoin.' Hermetica CEO Jakob Schillinger added: 'Perpetual trading is one of the most important products in crypto, and thanks to Velar, it’s now possible on Bitcoin.'
The launch of Velar PerpDex will unlock billions of dollars in idle capital within the Bitcoin ecosystem, allowing BTC holders to fully participate in DeFi without custodial risk.
