Velar is building Velar Artha, a decentralized perpetual derivatives exchange (PerpDEX) on Bitcoin that enables trustless perpetual derivatives trading using BTC as non-custodial collateral. The PerpDEX will support up to 20x leverage and aims to unlock dormant Bitcoin liquidity for advanced DeFi use cases. The product is slated to launch in Q2 2024 on Bitcoin Layer-2 protocol Stacks, and Velar plans to explore integrations with other leading L2s and scaling solutions. Velar’s broader suite includes a Uniswap v2-inspired AMM DEX for swaps and liquidity pools, yield-generation tools, and a token launchpad for Bitcoin-based projects. The company raised $3.5M in seed funding to accelerate development of these flagship products. The team is led by Co-Founder and CEO Mithil Thakore and Co-Founder Aravind Sathyanandham.

Total raised

$4M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2024