Hermetica, the Bitcoin-backed stablecoin issuer, enters into a partnership with Velar on Bitcoin L2 Stacks to introduce stablecoin yield for users of Velar’s PerpDex. As the collaboration kicks off, for the first time ever, users can trade Bitcoin perpetual futures while earning 5% yield on their USDh collateral.
Velar's PerpDEX users now enjoy 5% USDh yield thanks to Hermetica integration
According to an official statement by Hermetica, an issuer of Bitcon-based stablecoins, it kickstarted its collaboration with Velar, a DeFi protocol on BTC L2 Stacks. All traders of Velar's PerpDEX will additionally generate 5% yield in USDh while working with perpetual futures.
Velar PerpDex supports leveraged futures trading on Bitcoin layer-2 networks, including Stacks. The introduction of yield generation for USDh holders provides an opportunity for traders to grow their digital assets while trading BTC.
USDh yield is automatically earned on Velar on a weekly basis, providing passive income for users while engaging in leveraged Bitcoin futures trading.
Jakob Schillinger, CEO of Hermetica, is excited by the opportunities the new collaboration unlocks for various Bitcoin (BTC) yield strategies:
USDh is the only stablecoin that gives Bitcoin traders the chance to earn yield while going long Bitcoin. By providing a 5% yield on collateral, we’re opening up a new opportunity for Bitcoin-native finance, where users trade while earning a passive income, a feature never seen before in Bitcoin-native DeFi.
The launch of USDh yield on Velar PerpDex supports greater capital efficiency, enabling users to fully utilize their collateral to generate additional returns. In the process, it expands the range of opportunities now available within Bitcoin’s growing DeFi ecosystem.
More earning opportunities for Bitcoin (BTC) community
Mithil Thakore, CEO of Velar, welcomes the collaboration and invites cryptocurrency enthusiasts to explore the power of Bitcoin DeFi:
Launching the first Bitcoin-native PerpDEX with the sBTC/USDh pair is a huge step for Bitcoin DeFi. With USDh, not only do traders get a new way to trade with leverage, but they can also earn 5% yield on their collateral, making this a completely new and innovative experience in Bitcoin trading.
Hermetica’s USDh is the first Bitcoin-backed, yield-bearing synthetic dollar. It empowers Bitcoiners to earn an APR on their stablecoins while participating in complementary Bitcoin DeFi activities, such as trading.
Thanks to its integration with Velar, traders on Velar PerpDex can enter long or short positions on BTC while earning yield on their stable collateral.
USDh operates as a stablecoin that is backed by the hardest asset in the world (BTC), which is native to the most secure blockchain in Bitcoin.
Vladislav Sopov
Dan Burgin