Velar Protocol is a DeFi liquidity protocol built over Bitcoin through the Stacks smart contract layer. Offering many DeFi features ranging from token exchanges to launchpad platform infrastructure, it aims to elevate the Bitcoin DeFi ecosystem.
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How Does It Work?
Velar Protocol provides scalability and high transaction volume using Layer 2 solutions like Stacks while building on the security and transaction certainty of Bitcoin.
The protocol’s architecture is designed to include DEX, liquidity pools, yield farming solutions, staking infrastructure, and a launchpad platform. It offers a user-friendly experience and implements privacy integration with a decentralized identity solution.
Velar has a native cryptocurrency $VELAR, created to strengthen its ecosystem and enable management. Users, liquidity providers, and developers will be involved in governance and help shape the future of the protocol.
Relationship with Bitcoin
Velar aims to create a decentralized world of finance using the uninterrupted Bitcoin blockchain since 2009. The platform seeks to provide a reliable, scalable, and accessible financial environment where users can control their own assets and identities without intermediaries.
With over 100,000 miners on the Bitcoin network involved in transaction validation and security, the chances of seizing control of any asset are kept minimal. These features create a suitable environment for decentralized platforms like Velar.
Bitcoin, which holds hundreds of billions of dollars waiting to be unlocked, is a network filled with economic value. With Velar, users can utilize their BTC, earn rewards in exchange for providing liquidity, and access DeFi products.
What’s the Goal?
One of the primary goals of Velar is to build a decentralized financial ecosystem centered on Bitcoin. The Protocol, which believes that DeFi on Bitcoin has high potential, aims to build an accessible and secure ecosystem for all.
Insistent on decentralization, Velar strives to build a world where users can trade and access services without interference from third parties.
Investors
Team
The core team of Velar has previously built or worked with cryptocurrency exchanges, quant hedge funds, smart contract audit platforms, corporate blockchain businesses, and institutions.
Partners
Security
Using Bitcoin’s infrastructure as a security measure, Velar Protocol also provides the following security features:
- Encryption: All transactions and smart contracts are protected using robust encryption methods.
- Smart Contract Audit: Smart contracts are regularly audited and tested to prevent security vulnerabilities.
- Decentralization: Since the protocol has a decentralized structure, the risk of error from a single point is reduced.
- User Verification: Users can use security measures like multi-factor authentication to confirm transactions.
- Privacy and Identity Management: Velar aims to integrate a decentralized identity solution to protect users’ privacy and manage their identities.
- Risk Management: Liquidity pools and other DeFi applications are carefully designed to reduce risks.
Security is one of the most critical elements of DeFi protocols.
How to use it?
The initial version of the platform, Velar Dharma, offers five services:
Swap: The Swap service allows you to trade crypto money, taking advantage of low fees and minimal price difference ratios.
Pool: Pool service allows you to join the liquidity pool of your choice with your suitable asset or create liquidity pools.
Farm: The Farm service lets you partake in farm pools, which typically have high yield potential, with your chosen assets. By staking your chosen assets in the farm pool, you can earn returns.
Points: You earn points as you use Velar Protocol services. In the Points tab, you can see your earned points and ranking.
Launchpad: Under development.
What are Velar Points?
You earn daily Velar Points and are rewarded through these points by actively participating in liquidity pools and staking your LP tokens. These points are a reward for contributing to the growth of the platform.
Tokenomics
$VELAR is the native cryptocurrency of the Velar Protocol. Current uses include providing liquidity, payments for products and services within the ecosystem, priority customer support, dApp discounts, and privileged access to early offers.
The distribution allocations of $VELAR, which has a total supply of 1 billion, are as follows:
- 35% — Community Rewards
- 20% — Treasury
- 20% — Founders and Team
- 5% — Advisors
- 15% — Early Buyers
- 5% — Airdrop
$VELAR is Listed on Bybit!
Velar Protocol‘s native token $VELAR is getting listed on the cryptocurrency exchange Bybit.
The listing details of $VELAR, which was announced to be launched on Bybit Launchpad, have not yet been shared.
You can register on Bybit with a lifelong commission discount by clicking here and participate in Launchpad events!
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