Velar Protocol Joins Portal to Transform Bitcoin-based Perpetual Trading
In an exciting development for Bitcoin and perpetual trading, Velar, a Bitcoin DeFi Liquidity Platform, announces a strategic integration with Portal, a Bitcoin atomic swaps-based cross-chain DEX network. This partnership aims to enable seamless staking and increased trading liquidity for the $VELAR token through native assets like BTC, ETH, and others.
Fresh off its successful $3.5M pre-seed round led by prominent Web3 funds such as Kyros Ventures, Cypher Capital, Trust Machines, Transform Capital, Banter Capital, CMS, GBV, Mapleblock, Velar Protocol is poised to redefine the perpetuals trading landscape on the Bitcoin network.
Portal Supporting $VELAR
Portal is gearing up to introduce native support for $VELAR within its decentralized exchange (DEX) network and Swap SDK. This integration will provide users with the capability to effortlessly trade, stake, and leverage $VELAR directly on the platform. The strategic move aims to enhance the overall user experience while fostering a collaborative ecosystem, as the Swap SDK integration enables other network partners to seamlessly support $VELAR.
Velar Integrates Portal Swap SDK
The integration of the Swap SDK into the Velar Protocol platform is an important step towards enhancing user accessibility. This integration will enable users to purchase and stake $VELAR using various assets, including native Bitcoin and BRC20 tokens, as well as native tokens from other blockchain networks, like Ethereum and Eth L2s.
By leveraging Portal’s bridgeless Atomic Swaps technology, users can avoid the risks and extra costs associated with bridging. As a result, Velar Protocol users can now navigate the platform with ease, enjoying the flexibility of engaging with Velar Protocol using a diverse range of assets.
Collateral Deposit Flexibility
In a move towards greater flexibility, Velar Protocol, utilizing Portal Swap SDK, facilitates collateral deposits in various assets. Whether it’s STX, sBTC, stablecoins, or other assets, users can deposit collateral in the required form, starting from different chains and Bitcoin. This innovation ensures users have a plethora of options for collateral, further enhancing the versatility of perpetual trading on Velar Protocol.
Empowering Cross-Chain Trading and Staking
The Swap SDK integration empowers Velar Protocol users to partake in cross-chain trading and staking. Traders can seamlessly transition from assets on different blockchain networks, including Bitcoin, to actively participate in perpetual trading on Velar.
This feature aligns with the vision of creating an inclusive and interconnected perpetual trading ecosystem, allowing users to leverage their assets across multiple networks while enjoying the benefits of trading on the Velar Protocol.
Vision for the Future
Velar Protocol and Portal Swap SDK collaboration signify a substantial leap forward in the evolution of Bitcoin-based perpetual trading. The partnership envisions a future where users can effortlessly trade, stake, and engage with $VELAR, irrespective of the blockchain network or assets they hold.
This joint effort reflects a commitment to driving innovation in the perpetual trading landscape. By leveraging the strengths of both platforms, Velar Protocol and Portal aim to create a seamless and efficient trading experience for users, ultimately contributing to the growth and adoption of decentralized perpetual trading.
Statements from the Leadership Team
Cofounder/CEO Mithil Thakore of Velar Protocol expresses enthusiasm for the partnership, stating, “We are thrilled to integrate the Swap SDK into Velar Protocol. This collaboration is a key step in our mission to redefine perpetual trading on the Bitcoin network.”
Dr. Chandra Duggirala, co-founder/CEO of Portal, comments, “Velar Protocol’s commitment to innovation aligns seamlessly with our vision for decentralized trading. This integration opens new possibilities for users, promoting a diverse and interconnected perpetual trading ecosystem.”
About Portal
PortalDeFi.com, conceived by a team of veteran Bitcoin and AI engineers, is dedicated to empowering financial self-sovereignty. The Portal Cross-Chain DEX Network is designed to match the speed, liquidity, and user experience of centralized exchanges while eliminating the inherent custody risks of bridges and CEXs. Portal is backed by Coinbase Ventures, Arrington Capital, OKX Ventures, Gate.io and many other prominent fintech/crypto investors. For more information, visit https://portaldefi.com/
About Velar Exchange
Velar is on a mission to unlock Bitcoin’s true potential by developing a suite of powerful tools and products for DeFi. Velar realizes the full value of Bitcoin-based assets within an ecosystem anchored by strong transaction finality and unrivaled security.
Learn more: https://www.velar.co/
