what's Velar?
Velar is a DeFi liquidity protocol anchored to Bitcoin, built on the Stacks layer-2 network to enable decentralized financial primitives secured by Bitcoin's proof-of-work consensus. It provides an automated market maker (AMM) for trading pairs such as STX/aeUSDC and STX/aBTC, alongside plans for a perpetual futures DEX. Velar aims to unlock seamless trading and liquidity on Bitcoin through mechanisms like Dharma, fostering composability in the Bitcoin DeFi ecosystem.
Velar's perpdex had an oracle issue, LP pools drained, trading suspended; spotdex operates normally.
Participated in the HypurrCo Gathers @ Consensus HK 2 event on 2026-02-12.
Suffered an exploit on the BTC/MUSD PerpDEX pool on 2026-02-20 14:05 UTC due to an oracle price feed issue, draining LP pools and leading to temporary liquidity withdrawal and trading suspension on the perpdex, while the spotdex continues operating normally.
First buyback execution completes, purchasing 4,150 STX worth of VELAR tokens from the open market.
Partnership announced with Hermetica enabling users to earn yield on long Bitcoin positions.
$1M in new liquidity deployed to expand perpetual infrastructure in response to surging demand for Bitcoin perpetuals.
PerpDex launches portfolio tracking and leaderboard features for position monitoring and performance comparison.
ByBit announces delisting of the token despite recent organic momentum and product updates, though trading continues on DEX platforms and other exchanges.
The project implements 100% revenue buyback mechanism, directing all income from DEX, PerpDEX, Bridge, and Launchpad directly to VELAR token purchases.
VelarBTC launches on Mezo platform with MUSD-powered Bitcoin-native perpetuals trading and BTC/USD trading pair availability.
Major execution event scheduled for tomorrow following completion of foundation, system testing, and strategy alignment phases.
Active phishing campaign targets users with fake airdrop emails. Official warning issued against connecting wallets.
PerpDex platform integrates Xverse wallet, expanding Bitcoin perpetuals trading accessibility.
New DeFi campaign launches with $30k+ STX rewards distribution across 6 Stacks protocols, including quest-based earning system through Zealy.
Pre-Launch BTC Vault accumulates $10M+ TVL, offering 100K daily MATS points with 2x multiplier at $20M TVL, in partnership with Upshift and Pendle platforms.
Mezo mainnet launches with MUSD, a BTC-backed stablecoin, enabling lending, borrowing, and trading functionalities. On-chain actions earn materials convertible to tokens within approximately 2 months.
10M+ tokens now staked with active rewards program.
New perpetual trading pairs sBTC/USDh and STX/USDh are live for trading.
Technical documentation launches with complete trading specifications and liquidation protocols.
Creator Program pauses after distributing 500,000+ tokens across 100 winners and generating 10,000+ submissions.
New partnership with Galxe launches quest system for earning materials and rewards.
New 5% trading reward program launches for USDh trades on PerpDex.
First-ever Bitcoin DeFi feature enables 5% yield earning on USDh collateral during active perpetual trading.
Perpetual futures DEX launches on Stacks with Hermetica as first trading pair partner.
New reward program launching with mUSD incentives upon Mezo mainnet launch, in partnership with Layer3 and multiple DeFi protocols.
First perpetual DEX on Bitcoin via Stacks launches March 28, 2025, offering leveraged futures trading with sBTC-USDh.
Evolved from Dharma testnet to Artha PerpDex on Stacks, focusing on Bitcoin DeFi.
Launched PerpDex on Stacks, offering 5x leverage, sBTC/USDh trading pair with Bitcoin security.
Creator Program Week-6 winners announced. 10 winners to receive 5000 VELAR each.
Launching Bitcoin-focused DeFi apps on matsnet, including mUSD stablecoin for BTC perps trading. Hosting spaces event with CEO on March 28, 1PM UTC.
Reports 7M tokens staked. Offering staking rewards and governance participation in Bitcoin DeFi.
DEX offering multi-hop transactions between any two tokens in a single transaction
Monthly review for February 2024 discussed progress for protocol and Bitcoin DeFi ecosystem.
Launched staking on Feb 18. Minimum 500 VELAR required with no lock-up period. Offers increased benefits for longer staking duration. Part of Bitcoin DeFi ecosystem.
New farming rewards launched with 30,500 VELAR total distribution: 23,000 base rewards, 7,500 volume bonus. Requires $25K 3-day average volume qualification.
New Bitcoin DeFi platform launching with testnet available.
Undergoing rebranding initiative to make Bitcoin DeFi more accessible, focusing on onboarding next billion users.
Enhanced UI and faster trades update launching January 7th.
Monthly roundup for November announced after high-intensity internal testing.
Launched new stableswap pair stSTX/STX on Stacks with 5000 $VELAR daily rewards for LPs and 50% reward boost on StackingDAO points.
Announced listing on MEXC with deposits opening at 12 PM UTC and VELAR/USDT trading starting Nov 21.