May 30th What is VELAR?
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Velar is a decentralized finance (DeFi) liquidity protocol that leverages the security of Bitcoin through a layer 2 agnostic approach, initially leveraging the Stacks blockchain and Clarity smart contract language. Designed to integrate Bitcoin’s fundamental strengths with advanced DeFi capabilities, Velar takes strategic steps forward by introducing sophisticated solutions such as automated liquidity protocols and the world’s first decentralized perpetual contract exchange with Bitcoin finality with up to 20x leverage. It unfolds as follows. With significant support and strategic partnerships, Velar aims to establish itself as a leading platform in the evolving cryptocurrency financial ecosystem by seamlessly integrating native Bitcoin liquidity with cutting-edge DeFi services.
DeFi on Bitcoin with Velar and Stacks Bitcoin Layer Two
Velar is a decentralized finance (DeFi) liquidity protocol that aims to leverage the strength and security of Bitcoin through a layer 2 agnostic approach. Leveraging the Stacks blockchain and the Clarity smart contract language, Velar seeks to combine the fundamental robustness of Bitcoin with the dynamic capabilities of DeFi. Velar, a leader in the Bitcoin DeFi space, is designed to provide a versatile platform that supports a wide range of financial applications, from simple swaps and liquidity pools to advanced services such as staking, farming, and initial DEX offering (IDO) launchpads. .
Velar’s development consists of four strategic phases aimed at introducing progressively more sophisticated DeFi solutions. The first phase, “Dharma”, demonstrated the potential of the platform by launching an automated liquidity protocol. This phase includes features such as swaps, liquidity pools, staking, farming, IDO launchpad, etc., which received great interest and participation from over 150,000 users in the testnet phase. These early successes laid a strong foundation for Velar’s ambitious roadmap.
Building on this foundation, Velar’s next major milestone is the “Artha” phase. It introduces the world’s first decentralized perpetual contract exchange with Bitcoin finality, offering up to 20x leverage. This feature is poised to revolutionize the DeFi community by enabling leveraged trading within Bitcoin’s secure and stable framework. Velar’s Layer 2 agnostic design ensures future compatibility between various Bitcoin Layer 2 solutions, promising a flexible and scalable platform that can adapt to the ongoing evolution of blockchain technology.
Velar’s broader vision is to create a new paradigm in the financial ecosystem by seamlessly integrating native Bitcoin liquidity with advanced DeFi services. With strong investment backing and strategic partnerships with leading Bitcoin Layer 2 solutions, Velar is well-positioned to redefine the intersection of Bitcoin and decentralized finance. By providing a comprehensive suite of financial applications, Velar aims to drive innovation, improve market liquidity, and expand the adoption of DeFi on Bitcoin, setting the stage for a more inclusive and decentralized financial future.
What is VELAR token?
The VELAR token is the native utility token of the Velar DeFi liquidity protocol, designed to serve as the backbone of the ecosystem. It plays an important role in encouraging participation, providing liquidity and facilitating various activities within the Velar platform. The VELAR token, the fundamental building block of Velar, allows users to participate in a wide range of DeFi operations, ensuring the smooth functioning and growth of the protocol. With a total token supply of 1 billion, VELAR will be distributed to support community rewards, treasury reserves, founding teams, advisors, early buyers and airdrops.
One of the main use cases for VELAR tokens is to incentivize liquidity providers. Users who lock assets in Velar’s liquidity pool are rewarded with VELAR tokens, fostering an active and liquid market. These incentive mechanisms are essential to maintaining the efficiency and attractiveness of Velar DEX and other DeFi applications. By providing liquidity, users contribute to the overall functionality and stability of the platform, ensuring there are sufficient assets available for trading and other activities.
VELAR tokens are also used to access premium features and services within the Velar ecosystem. For example, users can stake VELAR tokens to gain a variety of benefits, including reduced trading fees, early access to new platform features, and participation in exclusive incentive testnets. VELAR token staking is also a prerequisite for participating in IDOs on Velar Launchpad. Depending on the amount of tokens staked, users receive IDO tickets that can be used to invest in new projects launched on the platform. This staking mechanism helps build a dedicated and engaged community and provides real benefits to long-term supporters.
The VELAR token plays an important role in Velar’s governance model. Token holders have the power to participate in critical decision-making processes that shape the future of the platform. Governance allows users to vote on proposals related to protocol upgrades, new feature implementations, and other important aspects of Velar development. This decentralized approach allows the platform to evolve in a way that reflects the common interests of the community and promotes transparency and inclusion. By involving token holders in governance, Velar creates a more democratic and user-centric ecosystem, allowing the community to directly influence the direction of the project.
VELAR token economics
How to Buy VELAR on Bitfinex
How to buy VELAR with cryptocurrency
1. Create an account by logging in or signing up for a Bitfinex account.
2. Go to the deposit page.
3. In the Cryptocurrency section, select the cryptocurrency you want to use to purchase VELAR and create a deposit address in your Exchange wallet.
4. Send cryptocurrency to the generated deposit address.
5. Once the funds arrive in your wallet, you can trade them with VELAR. Learn how to trade on Bitfinex here.
How to buy VELAR with fiat currency
1. Create an account by logging in or signing up for a Bitfinex account.
2. Depositing fiat to your Bitfinex account requires full verification. Learn about the different certification levels here.
3. On the deposit page, select the fiat currency you wish to deposit from the bank transfer menu. Bitfinex has a minimum amount for fiat deposits. Learn more here.
4. Check your registered email with Bitfinex for remittance details.
5. Send funds.
6. Once the funds arrive in your wallet, you can use them to purchase VELAR.
Plus, you have Bitfinex on your mobile, so you can easily buy VELAR currency on the go.
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VELAR Community Channel
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