Velar Teams Up with Hermetica to Unveil a High-Yield Stableswap Pool on Stacks.

Bitcoin trading protocol Velar announced its collaboration with the stablecoin innovator Hermetica to introduce a stableswap pool on the Stacks Through this synergistic effort, Velar is committed to providing liquidity for the USDh pool, which is gearing up for its debut on the Stacks platform, leveraging Bitcoin's Layer 2 capabilities.

Mithil Thakor, Velar's CEO, expressed, 'Hermetica's USDh stablecoin is emerging as a fundamental element of Bitcoin's DeFi, empowering Bitcoin enthusiasts to retain their BTC while minting synthetic dollars and earning returns on their holdings.' He further added, 'We are thrilled to join forces with Hermetica to launch the inaugural USDh pool on Stacks, employing Velar's cutting-edge liquidity technology.'

Hermetica, the mastermind behind USDh, introduces the first synthetic dollar anchored by Bitcoin, enabling Bitcoin holders to secure returns of up to 25% APR on their stablecoins while remaining within the Bitcoin ecosystem. With Velar's backing, Hermetica intends to weave USDh into the fast-evolving DeFi landscape on Stacks.

Velar's innovative technology prioritizes enhancing liquidity within Bitcoin and supports the launch of various assets on Bitcoin's Layer 2 networks. It offers robust liquidity assurance, facilitating smooth swaps for on-chain users, even during larger transactions. Velar and Hermetica will collaborate closely to guarantee that optimal liquidity is readily available for the rollout of the USDh stableswap pool.

Hermetica’s USDh serves as a fully BTC-backed synthetic dollar, maintaining its value against the USD by harnessing Bitcoin alongside a brief perpetual futures position. Users who stake USDh earn liquid sUSDh, which allows them to benefit from lucrative funding payments with interest rates soaring up to 25%. The introduction of USDh on Stacks will expand accessibility to this stablecoin and unlock fresh opportunities within the Bitcoin Layer 2 network.

Velar Unveils the Launch of Velar Artha PerpDex

Velar is a cutting-edge DeFi liquidity protocol that seeks to enhance the security and resilience of Bitcoin through an adaptable Layer 2 strategy. By harnessing the capabilities of the blockchain and the Clarity smart contract language, it aspires to merge Bitcoin's inherent stability with the innovative aspects of decentralized finance. Stacks the beta version of its decentralized exchange (DEX) for perpetual swaps, aptly named Velar Artha PerpDex, has gone live on the hybrid Layer 2 network BOB. This marks a groundbreaking step in establishing automated perpetual markets within the Bitcoin ecosystem.

Recently, Velar announced Please be aware that the information shared on this page is strictly informational and should not be interpreted as legal, tax, investment, financial advice, or any other form of professional guidance. It's vital to invest only what you can afford to lose and to seek independent financial consultations if there are any uncertainties. For additional details, we recommend reviewing the terms and conditions, along with the help and support sections provided by the issuer or advertiser. MetaversePost is dedicated to delivering precise and impartial reporting, though market conditions may shift at any moment without prior notice.