Velar partners with Portal

Published on: 16.03.2024
Velar partners with Portal

Velar partners with Portal Finance to Transform Bitcoin-based perpetual trading. The Portal Finance platform will enhance staking and increase trading liquidity for the $VELAR token by utilizing native assets across various chains like BTC, BRC20s, ETH, ERC20s, and more.

In the cryptocurrency realm, perpetuals trading enables traders to utilize futures contracts without a set expiration date. This type of trading, crucial for hedging and speculative tactics, has now become a fundamental tool for traders seeking to benefit from market movements unrestricted by time. The integration of Velar with Portal is poised to enhance this trading feature, enhancing the accessibility and flexibility of perpetual contracts for users on different blockchain networks.

Velar x Portal Finance

The integration aims to revolutionize perpetuals trading on the Bitcoin network by allowing cross-chain trading and staking through Portal’s Atomic Swaps technology. Users can easily acquire $VELAR using various assets, offering flexibility in collateral deposits from STX and sBTC to stablecoins. This enhances user experience and expands options for trading on the Velar platform.

Portal will integrate $VELAR into its network, enhancing trading dynamics on Portal’s DEX and fostering a collaborative ecosystem for $VELAR across various networks and platforms.

Velar’s innovation commitment aligns with a decentralized trading vision, unlocking new possibilities for users across blockchain assets. It promotes a versatile and interconnected trading environment, emphasizing inclusivity and integration in perpetuals trading.

“The integration of the Portal Swap SDK into the Velar platform is a pivotal step towards enhancing accessibility and redefining perpetuals trading on the Bitcoin network,” — Mithil Thakore, co-founder and CEO at Velar

Velar is a DeFi protocol with Bitcoin finality that aims to unlock Bitcoin’s true potential by building a sophisticated suite of DeFi products on Bitcoin. Velar V1, codenamed “Dharma,” includes an automated liquidity protocol based on the “constant product formula.”

The protocol, built on Uniswap v2 in Clarity language on Stacks L2, offers farming and staking on the Dharma mainnet for higher returns. It includes an IDO launchpad for token launches on the Stacks platform, inspired by Uniswap V2’s design and accessibility.

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