Bitfinex to List VELAR, Native Token of Velar

Bitfinex to list Velar’s native token, VELAR

Road Town, British Virgin Islands – May 28, 2024 – Bitfinex (https://www.bitfinex.com/), the premier digital asset trading platform, today announced it will list VELAR, the native token of Velar, a multi-feature DeFi liquidity protocol with Bitcoin finality.

Velar is a DeFi liquidity protocol that leverages the robustness of Bitcoin through a layer-2 agnostic approach. It runs on the Stacks blockchain and employs the Clarity smart contract language. Through Velar, users can launch and trade tokens on the Bitcoin blockchain and earn rewards by providing liquidity to pools with pool assets. They benefit from minimal fees on a secure blockchain. Velar’s multi-chain strategy will play a key role in accelerating the adoption of DeFi within the Bitcoin ecosystem.

Velar’s native token, VELAR, serves as the backbone of the platform, acting as the primary liquidity source and encouraging user participation. Beyond its core functionality, VELAR provides broader utility within the Velar Ecosystem. Users can leverage VELAR for a variety of purposes, including payment for goods and services, active platform engagement, access to opportunities such as Initial Dex Offering allocations, liquidity provider rewards, and participation in liquidity protocols offering high returns.

“Velar’s unique approach of leveraging a multi-chain strategy alongside Bitcoin’s established security will play a key role in accelerating DeFi adoption within the Bitcoin ecosystem, making it an innovative addition to the cryptocurrency ecosystem overall. We are excited to list $VELAR and enable our users to participate in the next wave of DeFi adoption.” Henry Child, head of tokens at Bitfinex, said:

Deposits of VELAR are expected to begin at approximately 10AM UTC on May 28th, 2024, subject to network conditions. Trading is expected to begin at approximately 10AM UTC on May 30th, 2024, subject to liquidity requirements being met. VELAR will be tradable against US Dollars (VELAR/USD) and Tether tokens (VELAR/USDt).

To access $VELAR on Bitfinex, visit https://www.bitfinex.com/.

*All users of www.bitfinex.com are subject to the Bitfinex Terms of Use (“TOS”). U.S. Persons (as defined in the TOS) and other Prohibited Persons (as defined in the TOS) are strictly prohibited from directly or indirectly holding, possessing, or operating an Account (as defined in the TOS) at www.bitfinex.com.

About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform providing cutting-edge services for traders and global liquidity providers. In addition to a suite of advanced trading capabilities and charting tools, Bitfinex offers access to peer-to-peer financing, OTC markets and margin trading for a wide range of digital tokens. Bitfinex’s strategy is focused on providing unparalleled support, tools and innovation to experienced traders and liquidity providers around the world. For more information, please visit www.bitfinex.com.

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