Velar (VELAR)

IEO

Last updated: Apr 03, 2024

Velar Protocol is a DeFi platform tailored specifically for Bitcoin, empowering users to tap into the vast liquidity locked within the Bitcoin ecosystem. Inspired by Uniswap v2, this protocol is built using the Clarity language on the Stacks Layer 2 blockchain.

Funding Round: $3.5M

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Overview

Project industry	Exchanges & Wallets
Product type	Platform
Founded	India
Whitepaper	Open

What is Velar

Velar is an inflection point in the journey of DeFi on Bitcoin. Velar is a DeFi liquidity protocol built on Bitcoin via the Stacks smart contract layer solution. As an all-in-one DeFi protocol, Velar will bring a host of DeFi-native features, from token swaps to launchpad infrastructure, to drive the Bitcoin DeFi ecosystem to new heights. Velar opens up the possibility of true DeFi on Bitcoin, thanks to Stacks.

Velar has a simple yet, sophisticated framework that draws inspiration from all the players in the Bitcoin DeFi ecosystem. The protocol will leverage Bitcoin’s base security and transaction finality while utilizing Layer 2 solutions like Stacks to achieve scalability and high transaction throughput. Yet, there’s more.

Velar will feature a DEX, liquidity pools, yield farming solutions, staking infrastructure, and a launchpad, each of which can stand alone as an independent DeFi application.

Details

IEO (ByBit Launchpad): Mar 29, 2024 - Apr 03, 2024
Token supply: 1,000,000,000 VELAR
Raised: 3,500,000 USD

Legal

Blockchain Platform: Bitcoin
Registration country: United Arab Emirates
Registration year: 2023

Token info

Ticker: VELAR
Type: Utility-token
Token price in USD: 1 VELAR = 0.03 USDT
Token distribution:
35% - Community rewards
20% - Treasury
20% - Founders and Team
5% - Advisors
15% - Investors
5% - Airdrop