Velar collaborates with Build on Bitcoin for PerpDex launch

Pioneering Bitcoin DeFi developer Velar has announced a partnership with Build on Bitcoin (BOB) to support the launch of Velar Artha, the world's first Perpetual Decentralized Exchange (PerpDex) on Bitlayer’s EVM-compatible Bitcoin Layer 2.

Technical support and mainnet launch

BOB will provide technical support to optimize the development and mainnet launch of Velar Artha, leveraging its advanced developer tooling, analytics, wallets, and blockchain infrastructure.

This collaboration aims to accelerate the launch of the PerpDex, ensuring a robust technical foundation.

Innovative decentralized exchange

Velar Artha will be the first PerpDex within the Bitcoin ecosystem, combining Bitcoin's security with the developer-friendly tooling of EVM compatibility.

The exchange will go live on Bitlayer, Bitcoin's EVM-compatible Layer 2. BOB, as a strategic partner, will play a crucial role in overseeing the security, decentralization, and UI/UX of Artha’s deployment.

Statements from Velar and BOB leadership

Velar CEO Mithil Thakore stated,

Alexei Zamyatin, co-founder of BOB, added,

Unlocking DeFi potential on Bitcoin

BOB operates a hybrid L2 that combines Bitcoin's security with Ethereum's versatility, enabling developers to build on Bitcoin instantly using EVM.

This partnership will help projects reduce time to market and take advantage of a specialized Bitcoin developer suite.

Velar Artha will allow Bitcoin users to make perpetual swaps for assets including BTC and open leveraged long and short positions, introducing a vital DeFi building block to the Bitcoin ecosystem and supporting further integrations.