Velar

Innovating Bitcoin: Perpetuals, Spot, and DeFi.

Built on Bitcoin, empowered by the community 🟧

[Velar @VelarBTC]

2.5M $VELAR tokens bought back and removed from circulation 🔥

The People's Buyback executing exactly as promised. Circ. supply shrinking, protocol growing.

This is just month one 📈

[Rainfire.btc @RainFire09]

Update for @VelarBTC-the dex is active and running. There are no users or LPs in Bitcoin defi to run it profitably but we ll keep running it. Hopefully we see a revival of Bitcoin DeFi narrative soon. Till then, I will be focusing on solving another global problem using crypto.

[Velar @VelarBTC]

are you paying attention anon?

Bitcoin perps --> the biggest alpha 🟧

[Velar @VelarBTC]

gVelar!

perps on Bitcoin.

no drama, just trading ✨

[Velar @VelarBTC]

$1M new liquidity deployed!

Velar's perpetual infrastructure is expanding to meet surging demand for perps on Bitcoin.

[Velar @VelarBTC]

PerpDEX = perpetual futures where you control the keys.

really that simple

[Velar @VelarBTC]

Trade perpetual futures directly on Bitcoin.

Self custody, no compromises.

Built on Stacks, secured by Bitcoin.

[Velar @VelarBTC]

🎥 In this clip, Velar CEO @RainFire09 dives into what makes Velar a true community project.

From building with a user-first approach to allowing the community to participate at the same terms as seed investors, Mithil explains how Velar puts the power in the hands of the people.

[Velar @VelarBTC]

What makes Velar DEX stand out in the @stacks ecosystem? 🚀

It's simple: We're not just another DEX.

We're a community-driven DeFi platform with 50+ trading pairs, deep liquidity, and an intuitive user experience that sets the standard for DeFi on #Bitcoin.

[Velar @VelarBTC]

Here's step-by-step guide to launching your token on Velar Dharma AMM with MemeStacker: https://t.co/E71cR6oaM3

[Velar @VelarBTC]

6 community-deployed sBTC pools now active on Velar DEX within days of launch

sBTC pairs offer:

- Lower volatility vs STX
- Reduced impermanent loss
- Direct BTC-backed markets

Deploy your own sBTC pool today!

[stacks.btc @Stacks]

Bitcoin needs yield that:

1. Does not require giving up custody
2. Pays in BTC

Native Bitcoin Staking on Stacks delivers that.

[stacks.btc @Stacks]

Stacks is now live on @FireblocksHQ.

2,400+ institutional clients can now reach Bitcoin DeFi directly: lending, trading, and BTC yield using the custody infrastructure they already trust.

[stacks.btc @Stacks]

$3B in total transaction volume. That's @bitflow on Stacks, building Bitcoin capital markets that settle on Bitcoin.

[Rainfire.btc @RainFire09]

My telegram - @mithilthakore is hacked and is not in my control. Kindly avoid interacting with it and don’t click on any links from that account.

[Velar @VelarBTC]

Velar PerpDEX Exploit – Community Update

At the end of January 2026, Velar PerpDEX liquidity pools on both the Stacks and Mezo ecosystems were exploited through coordinated wallet activity that targeted an edge case in the protocol’s trading mechanics.

This activity resulted in unauthorized extraction of funds from affected liquidity pools.

Our investigation identified a large cluster of attacker-controlled wallets interacting with the protocol:
•Stacks: 240+ wallets involved in coordinated exploit activity
•Mezo: 50+ wallets involved in coordinated exploit activity

On the Stacks chain, funds were consolidated into a primary wallet before being bridged out, with 29 identified bridge withdrawal transactions related to this matter.

These assets were subsequently bridged to Ethereum and further dispersed into mixers.

On the Mezo chain, a similar pattern of coordinated wallet activity and cross-chain fund movement was observed by same set of exploiters, with assets ultimately bridged to Ethereum as part of the attacker’s exit flow into same wallets used for stacks exploit.

Following the incidents, we initiated a detailed internal investigation across both chains. Through transaction tracing, wallet clustering, and cross-chain monitoring, we have mapped key flows of funds and identified primary consolidation wallets and bridge destinations.

We have formally filed a complaint with the FBI’s Internet Crime Complaint Center (IC3) to ensure proper law enforcement visibility, identification of exploiters, evidentiary preservation and funds recovery.

We are working closely with the Stacks and Mezo teams, along with blockchain analytics and transaction monitoring partners, including coordination with mixer-related intelligence sources, to trace the movement of funds and identify associated wallets across chains.

All relevant transaction data, exploit wallet clusters, and bridge activity have been preserved and are being actively monitored as part of the ongoing investigation.

This remains an active situation, and we will continue to share meaningful updates as progress is made.

[Velar @VelarBTC]

Notice to users/traders -

We are actively working on resolving the issue. Do not interact with the PerpDex until we announce from our official channel that the issue is resolved. Dex is unaffected and working fine.

[Velar @VelarBTC]

Velar PerpDEX Incident – Official Technical Update

Key points upfront -

- This was not a smart contract hack.
- All smart contracts are safe.
- The issue affected only Velar PerpDEX liquidity pools, not Dex liquidity pools.
- Traders are safe and unaffected.
- LP funds were compromised.
- No open user positions or traders balances were compromised.

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Additional Technical Clarification on the Velar PerpDEX Incident

Velar PerpDEX uses the Pyth Oracle on Stacks, which operates on a model where a price update is submitted every time a transaction is initiated. Each submitted price is verified on-chain using a timestamp, and the oracle contract enforces that any new price must have a newer timestamp than the previously submitted price.

There was no additional staleness validation beyond this timestamp check in our system. Under normal conditions, where multiple users are actively trading, this mechanism functions as intended because frequent transactions continuously refresh the oracle price.

During the incident, user activity on the platform was extremely low. This created an edge case where a single actor was able to interact with the system in isolation.

In this scenario, the exploiter was able to:
- Receive two oracle prices with different, sequential timestamps.
- Predict price movement due to the absence of other transactions refreshing the oracle.
- Open a position using a known price.
- Close the position using a second known price with a newer timestamp.
- Capture a small, deterministic profit.

This was not a single event, but a slow, repeated process, executed via small trades across multiple wallets, which made the activity blend into normal pool fluctuations.

---

Actions taken

- The exploit path has been fully identified.
- Additional oracle safety checks are being added to prevent reuse of known prices, especially during low user activity periods.
- More detailed analysis will be shared soon.

---

Final note

This was a design edge case under extremely low user activity conditions.

We will be addressing it directly and transparently, and will continue to harden the system as Velar scales.

[Stacks Endowment @StacksEndowment]

We are aware of reports of a potential security issue affecting Velar. We have funds deployed on the platform and are actively working with the Velar team to assess the situation and secure our position. We will provide updates as we learn more.
https://t.co/Gbm4oEvmT3

[Velar @VelarBTC]

More details on it soon. Avoid any communication except from official stacks or Velar account. This isn’t a security bug, our contracts are safe, this is an operational issue, we will be deploying a fix soon.

[Velar @VelarBTC]

Hello everyone, kindly avoid trading on Velar perpdex for time being. Due to an oracle price feed issue, some user has started draining our Perpdex LP pools recently, thus we are withdrawing liquidity out of the perpdex pools temporarily. This issue is limited to perpdex only, Velar Dharma dex is working fine. We are coordinating with @Stacks as the foundation have put majority liquidity and they are withdrawing it temporarily as we speak till we resolve it. We have also found a solution and are working to resolve it asap.