CandleFocus CEO Mithil Thakore of Velar: Building the DeFi Liquidity & Trading Protocol on Bitcoin’s Layer 2
2024-11-01
Author: Content Editor
Velar aims to solve the problem of low liquidity and high fees on Bitcoin Layer 2 platforms by offering seamless asset swapping, trading, and launches with unmatched liquidity and flexibility. The founder, Mithil Thakore, experienced the consequences of centralized exchanges firsthand, leading him to believe in the need for a secure and transparent solution in the Bitcoin ecosystem. Despite concerns from BTC maxis, Velar believes that incorporating DeFi on Bitcoin can enhance its store of value proposition and improve market stability. By building around the Bitcoin blockchain, Velar aims to bring new use cases and services to the network, competing with other smart contract platforms dominating the DeFi space. The team chose Bitcoin for its security, robustness, and large network effect. Velar's product offerings include basic automated market makers and more complex products like a perpetual exchange, catering to both retail and institutional users. Velar takes an L2 agnostic approach, allowing them to tap into various Layer 2 solutions and adapt to new ones as they emerge. The goal is to provide a safe and reliable platform for users while focusing on security and user experience. Overall, Velar aims to become a leading force in the evolving world of secure decentralized finance on the Bitcoin blockchain.
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