Velar Launches Bitcoin’s First Decentralized Perpetuals Exchange
Velar has unveiled the world’s first decentralized perpetuals exchange built directly on Bitcoin. This new platform, called PerpDex, is a significant step for Bitcoin-based decentralized finance (DeFi).
Deployed on Stacks, a Bitcoin layer 2 solution, PerpDex lets users trade perpetual futures with leverage. The best part? Users keep full control of their assets. The exchange is now live at perpdex.velar.com, starting with the sBTC-USDh trading pair.
USDh, created by Hermetica, is a synthetic dollar tailored for Bitcoin DeFi. It will be the base trading pair on the platform.
Trading on Bitcoin just got easier. PerpDex leverages Stacks’ five-second block times adn Bitcoin-backed finality. This combination offers deep liquidity and a robust trading experience, all within the Bitcoin ecosystem.
Velar CEO Mithil thakore said,”This launch is a major milestone for Bitcoin DeFi. Traders can now access leverage and liquidity without leaving Bitcoin.”
Perpetual trading is a popular part of crypto markets. But until now, Bitcoin users needed wrapped tokens or custodians. Velar’s use of Hermetica’s USDh solves this, enabling Bitcoin-native perpetual contracts.
Hermetica CEO Jakob Schillinger added, “Thanks to velar, perpetual trading is now possible on Bitcoin.”
With PerpDex, Velar aims to be a key player in Bitcoin-native financial products. It allows BTC holders to use advanced trading tools while staying within the Bitcoin-secured ecosystem.
