CEO Mithil Thakore told CoinDesk that Velar plans to launch the first perpetual swaps exchange to utilize the Bitcoin network - the oldest and most prevalent blockchain and one that - unlike Ethereum - cannot host the smart contracts necessary for DeFi.
One of the use cases could be in the trading context. "People will be able to use sBTC as collateral and trade with leverage," Thakore said of Velar v3, named Artha, which is planned for launch in Q2 2024.
#velar #crypto-trading #defi #bitcoin #perpetual-swaps #smart-contracts #side-chains #layer-2s #stacks #sbtc #nakamoto-release
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