Dharma AMM Launches on Bitcoin L2 Stacks, Bringing DeFi Liquidity to the Network

Is Bitcoin Ready for DeFi Liquidity?

Dharma AMM Unveils Decentralized Exchange on Bitcoin L2 Stacks

Velar, the Bitcoin liquidity protocol, has introduced Dharma, an Automated Market Maker (AMM), to bring DeFi liquidity to the Bitcoin ecosystem. Dharma went live on Bitcoin L2 Stacks on March 19th, expanding the DeFi capabilities of the Bitcoin network.

Expanding DeFi Capabilities on Bitcoin

Dharma enhances liquidity within the Bitcoin ecosystem and unlocks new DeFi features. Velar's V1 Dharma introduces a decentralized exchange, enabling token pairs to be traded fully on-chain.

Advanced DeFi Tools for Users

Dharma offers users advanced financial tools for liquidity provision, trading, and asset management. Initially, two token pairs are supported, with additional tokens added subsequently. STX-ABTC and STX-AEUSDC are available for trading, with further pairs to be introduced.

Leveraging Bitcoin's Security

Velar's Dharma AMM leverages the inherent security of the Bitcoin network, providing a reliable and user-friendly platform for decentralized finance operations. Its launch sets a new standard for DeFi on Bitcoin and establishes a foundation for DeFi applications and services to thrive.

Velar CEO Mithil Thakore's Enthusiasm

"Celebrating the launch of our Dharma AMM main net is more than just a milestone," said Velar CEO Mithil Thakore. "It's a testament to Velar's commitment to revolutionizing the DeFi landscape. We're not just embracing change; we're driving it."

Unlocking Dormant Capital

The growth of DeFi on Bitcoin has the potential to unlock $1 trillion in dormant capital and offer new avenues for earning rewards through liquidity provision, lending, borrowing, staking, and yield farming.

Self-Custody and DeFi

With Dharma, users can retain self-custody of their assets while exploring the vast possibilities of decentralized finance.