In a major leap forward for Bitcoin-based decentralized finance (DeFi), Velar has officially launched the world’s first decentralized perpetuals exchange (PerpDEX) built natively on Bitcoin. This milestone positions Velar at the forefront of expanding advanced trading capabilities within the Bitcoin ecosystem.
Deployed on Stacks, a Layer 2 blockchain for Bitcoin, Velar Artha PerpDEX enables users to trade perpetual futures contracts with up to 5x leverage—all while maintaining full custody of their assets. This development eliminates the need for wrapped tokens or third-party custodians, long seen as barriers for Bitcoin-native DeFi solutions.
The PerpDEX went live on March 28, 2025, and is now accessible at perpdex.velar.com. It debuted with the sBTC-USDh trading pair, leveraging USDh, a synthetic dollar designed specifically for Bitcoin DeFi and developed by Hermetica. USDh will serve as the base stablecoin for all trading on the platform.
“Launching the first PerpDEX on Bitcoin is a defining milestone for the future of DeFi on Bitcoin, enabling traders to access leverage and deep liquidity without leaving the Bitcoin ecosystem,” said Mithil Thakore, CEO of Velar.
Velar’s exchange benefits from Stacks’ five-second block times, Bitcoin finality, and decentralized architecture, offering a seamless and secure trading experience. The integration of smart contracts and deep liquidity infrastructure aims to boost capital efficiency for BTC holders while keeping them rooted in the native Bitcoin security layer.
“Perpetual trading is one of the most important products in crypto, and now thanks to Velar, it’s finally possible on Bitcoin,” noted Jakob Schillinger, CEO of Hermetica.
Perpetual futures remain one of the most liquid and widely used financial instruments in the digital asset market. However, until now, Bitcoin users have had limited access to such tools without compromising on decentralization or sovereignty. Velar’s innovation changes that landscape by offering a fully decentralized, non-custodial alternative powered entirely by Bitcoin-secured technology.
With this launch, Velar is positioning itself as a foundational layer for Bitcoin-native financial infrastructure—aiming to unlock a new wave of permissionless trading, stablecoin use, and liquidity strategies for Bitcoin holders worldwide.
