The Velar PerpDEX allows users to trade leveraged futures while maintaining full custody of their assets, operating on Stacks, a Bitcoin layer 2 solution.

Built on Stacks’ Layer-2 network, Velar's platform offers decentralized trading without smart contracts, ensuring users retain control over their assets.

The platform supports perpetual contracts, allowing for leveraged trading of Bitcoin's price without the need for centralized exchanges like Binance or Bybit.

Traditionally viewed as a store of value, Bitcoin can now compete directly with Ethereum platforms like dYdX and GMX through the PerpDEX.

The PerpDEX provides functionalities similar to Ethereum-based DeFi applications while leveraging Bitcoin's security, aiming to unlock billions of dollars in idle capital within the Bitcoin ecosystem.

Despite challenges such as scalability and user adoption, the demand for decentralized trading services suggests that Velar's PerpDEX could signal a new era for Bitcoin in DeFi.

Velar's success may pave the way for further innovation in Bitcoin-based DeFi solutions, which are increasingly gaining traction.

Additionally, the platform features liquidity pools, enabling users to earn yields by providing liquidity, which enhances capital efficiency and trading volumes within the Bitcoin ecosystem.

Velar plans to gradually add more trading pairs, allowing for leveraged long and short positions on various assets, including Bitcoin.

Velar has launched the first Bitcoin-native perpetual decentralized exchange (PerpDEX) on Stacks, marking a significant advancement for Bitcoin in the decentralized finance (DeFi) space.

CEO Mithil Thakore highlighted that this launch is a pivotal moment for DeFi on Bitcoin, enabling traders to access leverage and liquidity while remaining within the Bitcoin ecosystem.

Perpetual trading, a highly active segment of crypto markets, has previously been inaccessible to Bitcoin users without relying on wrapped tokens or custodians.