Stacks

Bitcoin

DeFi

Velar

Panama City, Panama, November 26th, 2024, Chainwire
 
&nbsp;<a href="https://www.velar.co" rel="nofollow noopener" target="_blank">Velar</a>, the leading Bitcoin-based liquidity protocol bringing trillions of dollars in dormant capital to DeFi markets, is partnering with <a href="https://www.stackingdao.com/" rel="nofollow noopener" target="_blank">StackingDAO</a> to launch the first of its kind dedicated stableswap trading pair for STX/stSTX tokens on Stacks.&nbsp;
With its enticing rewards, the STX/stSTX stableswap trading pair on Velar DEX will solve a critical liquidity need for the Stacks ecosystem, utilizing a specialized stableswap curve to enable rapid, low-slippage swaps for STX tokens and its staked version, stSTX, with minimal fees.
Investors will have more fluidity to enter and exit their STX staking positions, and this reduced friction should enhance the appeal of Stacking. In addition, STX and stSTX holders will be able to take advantage of compelling yield opportunities. Liquidity providers are enticed through a dual rewards structure that consists of 5,000 VELAR in daily rewards plus a 50% boost on StackingDAO points. By amassing StackingDAO points, LPs may become eligible for future benefits including rewards, airdrops and more.&nbsp;
For experienced DeFi users in the Stacks ecosystem, the STX/stSTX stableswap trading pair will provide supplemental functionality, while giving Stackers a route to harvest additional StackingDAO points. And with its lucrative rewards, it will provide sufficient liquidity for institutional investors that need the ability to perform efficient, large-scale STX/stSTX swaps.&nbsp;
In addition, the broader Stacks ecosystem will be strengthened through a more synergistic relationship between two of its leading projects. Velar has emerged as the biggest DEX on Stacks, while StackingDAO enjoys a special status as its number one Liquid Stacking protocol, making STX staking accessible to anyone while unlocking liquidity for Stacked STX. What’s more, other pools in the market increase the risk of impermanent loss for liquidity providers, whereas Velar's upgradeable variable midpoint product will reduce this loss for StackingDAO users, leading to a more profitable farming program.
Philip de Smedt, Co-founder of StackingDAO, commented: "The introduction of the stSTX/STX stableswap on Velar DEX is a significant step forward for the Stacks ecosystem. This partnership brings unmatched liquidity efficiency, ultra-low slippage, and a first of its kind variable midpoint implementation on Stacks to limit impermanent loss.”&nbsp;
Velar’s CMO, Peter Watson, added: "At Velar, we’re constantly driving innovation, and partnering with StackingDAO to build the first-of-its-kind stableswap pool with an upgradeable variable midpoint is a proud moment for us. This feature, designed to better protect liquidity providers, showcases the cutting-edge solutions we’re bringing to the Stacks ecosystem. Collaborating with the talented StackingDAO team has been an incredible experience, and together, we’re setting a new benchmark for what’s possible in Bitcoin DeFi."
The increased synergies will accelerate Velar’s mission to free up almost $2 trillion of capital that’s currently lying dormant within the Bitcoin ecosystem. The protocol is at the forefront of Bitcoin’s evolution, providing the liquidity and infrastructure for Stacks and other L2s to support a new generation of Bitcoin-native DeFi applications.&nbsp;
 
About Velar
Velar is on a mission to unlock Bitcoin’s true potential by developing a suite of powerful tools and products for DeFi. Dharma is Velar’s AMM that incentivizes liquidity provision and trading on Stacks, the leading Bitcoin L2. Velar realizes the full value of Bitcoin-based assets within an ecosystem anchored by strong transaction finality and unrivaled security.
Learn more: <a href="https://www.velar.co/" rel="nofollow noopener" target="_blank">https://www.velar.co/</a>
 
 
 
<h5>Contact</h5>Market Across pr@marketacross.com 
 
 
Disclaimer. This is a paid press release. CoinMarketCap does not recommend that any cryptocurrency (bitcoin, ethereum, custom asset) should be bought, sold or held. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

Velar Partners With StackingDAO To Launch First-of-its-Kind STX/stSTX Stableswap Pool on Bitcoin With Dual Incentives (26 Nov)

Chainwire

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