May 28 Bitfinex Lists VELAR, Velar’s Native Token
From media materials
Road Town, British Virgin Islands – May 28, 2024 – Bitfinex (https://www.bitfinex.com/), a leading digital asset trading platform, today announced that it will list VELAR, the native token of Velar, a multi-functional DeFi liquidity protocol with Bitcoin Finality.
Velar is a DeFi liquidity protocol that leverages the robustness of Bitcoin through a layer 2 agnostic approach. It runs on the Stacks blockchain and uses the Clarity smart contract language. Velar allows users to launch and trade tokens on the Bitcoin blockchain and earn rewards by providing liquidity to the pool as a pool asset. They benefit from minimal fees on a secure blockchain. Velar’s multi-chain strategy will play a key role in accelerating DeFi adoption within the Bitcoin ecosystem.
Velar’s native token, VELAR, serves as the backbone of the platform, serving as the primary source of liquidity and encouraging user participation. In addition to its core functionality, VELAR offers a wider range of utilities within the Velar ecosystem. Users can leverage VELAR for a variety of purposes, including paying for goods and services, actively participating in the platform, and accessing opportunities such as allocating initial Dex offerings, rewarding liquidity providers, and participating in liquidity protocols that offer increased returns.
“Velar’s unique approach of leveraging a multi-chain strategy along with Bitcoin’s well-established security will play a critical role in accelerating DeFi adoption within the Bitcoin ecosystem. This provides an innovative addition to the entire cryptocurrency ecosystem. We are excited to list $VELAR and enable users to participate in the next wave of DeFi adoption.,” said Henry Child, Head of Tokens at Bitfinex.
VELAR deposits are scheduled to open at approximately 10:00 AM UTC on May 28, 2024, depending on network conditions. Trading is expected to begin around 10:00 AM UTC on May 30, 2024, subject to meeting liquidity requirements. VELAR can be traded against US dollars (VELAR/USD) and Tether tokens (VELAR/USDt).
To access $VELAR on Bitfinex, customers can visit https://www.bitfinex.com/.
*All users of www.bitfinex.com are subject to the Bitfinex Terms of Service (“TOS”). Among other prohibited persons (as defined in the TOS), U.S. persons (as defined in the TOS) are strictly prohibited from holding, owning, or operating, directly or indirectly, an Account (as defined in the TOS) at www.bitfinex. .com.
Introduction to Bitfinex
Founded in 2012, Bitfinex is a digital token trading platform that provides cutting-edge services to traders and global liquidity providers. In addition to a series of advanced trading features and charting tools, Bitfinex offers access to peer-to-peer finance, OTC markets, and margin trading for a variety of digital tokens. Bitfinex’s strategy is focused on providing unparalleled support, tools and innovation to skilled traders and liquidity providers around the world. For more information, please visit www.bitfinex.com.
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