Velar, a Bitcoin liquidity protocol, today unveiled Dharma, its Automated Market Maker (AMM). Launching on March 19th on Bitcoin L2 Stacks, Dharma expands DeFi options for Bitcoin.
V1 Dharma introduces a decentralized exchange for on-chain token pair trading. This deepens liquidity within the growing Bitcoin ecosystem and unlocks new DeFi tools. Users gain access to advanced features for managing assets, providing liquidity, and trading.
Two token pairs will be available initially, with more added progressively. STX-ABTC and STX-AEUSDC will lead the pack, followed by further pair introductions.
Dharma AMM leverages Bitcoin’s security to offer a reliable and user-friendly platform for DeFi. It sets a new standard for Bitcoin DeFi and lays the groundwork for DeFi applications to thrive.
Velar CEO Mithil Thakore views the launch of the Dharma AMM on the mainnet as a significant achievement and a demonstration of Velar’s dedication to transforming the decentralized finance (DeFi) sector: “Celebrating the launch of our Dharma AMM mainnet is more than just a milestone—it’s a testament to Velar’s commitment to revolutionizing the DeFi landscape.”
He emphasizes that the platform is not merely adopting changes in the industry but is actively leading the charge. By enabling users to utilize their assets in a secure and self-custodial setting, Thakore believes Dharma is setting the stage for a new era of financial independence: “Today, we’re not just launching a product; we’re launching a movement—one that will shape the future of decentralized finance on Bitcoin.”
Bitcoin DeFi’s growth could unlock $1 trillion in dormant capital and offer new ways to earn through liquidity provision, lending, borrowing, staking, and yield farming. Dharma lets users retain asset custody while exploring DeFi possibilities.
Velar’s mission is to unlock Bitcoin’s potential with powerful DeFi tools. Dharma, their AMM, incentivizes liquidity provision and trading on Stacks, the leading Bitcoin L2. Velar recognizes the full value of Bitcoin-based assets within a secure and finalized ecosystem.
