Velar has started a groundbreaking Bitcoin decentralized exchange (DEX) that is meant to give Bitcoin (BTC) users more ways to sell their coins and earn money. The Velar Artha permanent swaps DEX, which was released on September 16, is meant to give the world’s first coin new opportunities.
The Velar Artha Perpetual Swaps DEX is here
Velar’s new platform is the first of its kind to offer direct Bitcoin perpetual swaps. It was built on the BOB (Build on Bitcoin) network. The goal of this move is to give Bitcoin new financial features, getting rid of the need for complicated wrapping or bridge methods. Velar’s co-founder and CEO, Mithil Thakore, said that this change lets both individual and large BTC holders make money by selling or providing liquidity.
Thakore stressed that this feature gives Bitcoin a lot of value by adding decentralized finance (DeFi) features directly to its environment. This could make Bitcoin more useful and appealing overall.
What’s Next for Bitcoin in DeFi
Ethereum has been the main platform for DeFi apps, but BTCFi, which stands for “bitcoin-based decentralized finance,” is starting to catch on. Thakore thinks that Bitcoin could become the most important cryptocurrency in the DeFi market in the next five years, as developers and users learn to value Bitcoin’s strong monetary qualities and lack of a central authority.
Thakore thinks that the growing BTCFi sector will get a lot of attention and money, which could make it more popular than Ethereum’s early lead in DeFi innovation.
Adding layer-2 answers and making Bitcoin more useful are both big changes.
Layer-2 (L2) solutions are growing quickly, which is important for making Bitcoin more useful because the main Bitcoin network doesn’t support smart contracts natively. At the moment, more than 100 L2 projects are being worked on to improve Bitcoin’s features and make it work with more powerful DeFi apps. Thakore believes that these L2 solutions will soon be better than Ethereum’s while keeping Bitcoin’s main strengths.
This change shows how the crypto world has changed a lot. New developments have made Bitcoin’s role and promise in the world of open finance even better.
