Hermetica, the Bitcoin-backed stablecoin issuer has announced that it has partnered with Velar on Bitcoin L2 Stacks to introduce stablecoin yield for users of Velar’s PerpDex. The initiative means that for the first time users can trade Bitcoin perpetual futures while earning 5% yield on their USDh collateral.
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.
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.
Jakob Schillinger, CEO of Hermetica, added: “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.”
Mithil Thakore, CEO of Velar, said: “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.
About Hermetica
USDh is the first Bitcoin-backed, yield-bearing synthetic dollar outside the fiat system. Its crypto-native team, who have previous experience at Kraken and State Street, are backed by leading institutional asset manager Two Prime. USDh operates as a stablecoin that is backed by the hardest asset in the world (BTC) that is native to the most secure blockchain in Bitcoin.
Learn more: https://www.hermetica.fi/
About Velar
Velar is building the user interface to access the most secure blockchain ever created. Velar Dharma enables anyone to effortlessly trade their favorite Bitcoin-based tokens with just a few clicks via a user-friendly interface. Velar is laying the groundwork for a new era of Bitcoin-powered financial innovation while unlocking untapped liquidity and empowering users to take control of their digital assets.
Learn more: https://velar.co/
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