Gate.io AMA with Velar- DeFi Liquidity Protocol on Bitcoin

Time: Apr 3rd 2024, 08:00 AM UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Peter Watson,CMO of Velar, in the Gate.io Exchange Community.
Official Website: https://www.velar.co/
Twitter: https://twitter.com/VelarBTC
Follow Velar on TelegramTelegram and Twitter

Q1: Can you please introduce yourself to community members?

Peter: Hi, I’m Peter Watson, the Chief Marketing Officer at Velar. I’ve been an entrepreneur my whole life and have successfully built and sold multiple businesses. I even authored a best-selling book. I’ve been involved with Bitcoin for eight years and have only found myself getting more and more involved as time has passed. I’ve also been heavily involved in the Stacks eco- for around 3-years, attending events all over the world and supporting projects on go-to market strategy. My role at Velar is exciting to say the least, where I focus on driving the communications and wider marketing strategy forward.

Q2: What is Velar and how does it use Bitcoin technology?

Peter: Velar is a Bitcoin DeFi liquidity protocol that leverages the Stacks platform, a Layer 2 solution, to bring decentralized finance applications to Bitcoin. By using Stacks, Velar can implement smart contracts and dApps while inheriting the security and robustness of Bitcoin. This integration allows Velar to offer advanced DeFi functionalities, such as the world’s first Perpetual Dex on Bitcoin, enabling users to engage in sophisticated financial activities with the inherent security benefits of Bitcoin.

Q3: Can you tell us about Velar’s main product?

Peter: Velar’s main product is the Velar Perpetual Dex, the world’s first decentralized exchange built on top of Bitcoin. This platform allows users to trade various assets, employing the security and transparency that blockchain technology provides.

Some use the comparison to Jupiter on Solana ($17bn market cap), by saying we’re the Jupiter of Bitcoin.

Q4: What problems is Velar trying to solve in the DeFi space?

Peter: Velar’s core aim is to unlock the liquidity trapped within Bitcoin, targeting the approximately $1 trillion of dormant value in the eco. By enhancing Bitcoin’s integration into the DeFi space, Velar seeks to activate this idle capital, offering Bitcoin holders new avenues to deploy their assets productively. The platform is crafted to demystify Bitcoin DeFi, making it accessible and user-friendly, thus encouraging wider participation and unlocking Bitcoin’s full potential within decentralized finance.

Q5: What’s next for Velar? Any upcoming features?

Peter: Velar has exciting plans ahead, focusing on enhancing the Perpetual Dex launch with more trading options and financial tools than anything ever on Bitcoin before. The team is also working on adding new DeFi products and improving platform efficiency by integrating more Layer 2 solutions. Engaging with the community remains a priority to ensure Velar continues to meet user needs and lead in Bitcoin-based DeFi innovation.

Q6: How can users get involved with Velar?

Peter: We have our Perp Dex Test Net live around Mid April, which will be incentivised with Airdrop rewards.

We also have launched the token at a fair rate, the same as our last round, to make sure the community can get involved at the early stages.