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Product updates
Velar launches automated market maker on Bitcoin blockchain 'Dharma'
Decentralized Finance (DeFi)
Mar 19, 2024
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Decentralized Finance (DeFi)

Decentralized Finance (DeFi)

Mar 19, 2024

Velar launches automated market maker on Bitcoin blockchain 'Dharma'

Product updates

  • Velar, a decentralized exchange (DEX)platform, has launched a Bitcoin-based automated market-making (AMM) protocol called "Dharma." Designed to bring excess liquidity to the Bitcoin blockchain, will be hosted on the company's Bitcoin layer-2 stacks.

  • The solution will enable token pairs to be traded fully on-chain and provide users with tools for liquidity provision, trading, and asset management. The protocol will initially provide the STX-ABTC and STX-AEUSDC token pairs, with additional tokens scheduled to be added in the coming days. 

  • Analyst QuickTake: Velar has been making significant strides in the development of its flagship perpetual exchange platform, Artha. This news comes just over a month after Velar secured USD 3.5 million in new funding and only a week after it entered a partnership with Portal , another Bitcoin-based DEX, to enable staking and increased trading liquidity for its native VELAR" token. Introducing Dharma AMM represents a significant step in Artha's development roadmap, scheduled to be launched to the public in Q2 2024.

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