Bitcoin liquidity protocol Velar has introduced the launch of Dharma, its Automated Market Maker (AMM), geared toward bringing DeFi liquidity to the Bitcoin ecosystem.
Set to go reside on Bitcoin L2 Stacks on March 19, Dharma will develop the DeFi capabilities of the Bitcoin community.
What’s V1 Dharma?
Velar’s V1 Dharma introduces decentralized change, permitting token pairs to be traded absolutely onchain.
The launch is poised to deepen liquidity inside the burgeoning Bitcoin ecosystem and unlock new DeFi capabilities.
Dharma gives customers with superior monetary instruments for liquidity provision, buying and selling, and asset administration.
Preliminary token pairs
Two token pairs will probably be supported upon launch, with extra tokens set to be added on consecutive days.
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STX-ABTC and STX-AEUSDC will initially be accessible for buying and selling earlier than being complemented by the introduction of additional pairs.
Inherent safety and reliability
By leveraging the inherent safety of the Bitcoin community, Velar’s Dharma AMM gives a dependable and user-friendly platform for decentralized finance operations.
Its launch will set a brand new normal for the way DeFi can function on Bitcoin and supply a basis for DeFi purposes and providers to flourish.
What Velar CEO says?
Velar CEO Mithil Thakore expressed his enthusiasm for the launch, stating,
Celebrating the launch of our Dharma AMM mainnet is greater than only a milestone—it’s a testomony to Velar’s dedication to revolutionizing the DeFi panorama. With this progressive platform, we’re not simply embracing change; we’re driving it. By providing customers the chance to leverage the facility of their belongings in a safe, non-custodial atmosphere, we’re paving the best way for a brand new period of monetary freedom. At present, we’re not simply launching a product; we’re launching a motion—one that may form the way forward for decentralized finance on Bitcoin.
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