As a new day dawns on the Bitcoin DeFi ecosystem, Velar is pleased to announce the conclusion of its Incentivized Testnet program. Velar Dharma Incentivized Testnet, which ran from June 13th to July 20th, has surpassed all expectations and set a new benchmark in the history of Bitcoin DeFi.

Velar's Incentivized Testnet campaign was initially scheduled to run for four weeks. However, the Velar team had to extend it for an extra week due to the overwhelming response from the Velar and Bitcoin DeFi communities.

With over 100,000 unique users participating, Dharma Incentivized Testnet has garnered unprecedented interest in Bitcoin DeFi. From the launch of the Velar Faucet on June 25th, over 80,000 unique wallets have claimed testnet $STX, demonstrating the immense demand for the platform. Additionally, the staking feature, introduced on June 22nd, saw participation from over 57,000 unique wallets.

It’s worth noting that with this overwhelming demand, the team had put strict security checks in place to avoid potential bot attacks and other malicious activities that could compromise the integrity of the platform.

The average engagement time of six minutes showcases the strong user involvement and dedication to exploring the features and functionalities of the Dharma Incentivized Testnet. The total event count reaching an impressive 3.5 million further emphasizes the tremendous activity and traction generated by the Testnet.

Velar's global community has also witnessed remarkable growth during this period with participation by users from over 180 countries. The top 10 countries by user participation include Vietnam, the UK, India, the USA, Nigeria, Indonesia, Russia, Ukraine, Japan, and South Korea, reflecting the truly international appeal of Velar. Moreover, the Velar Dharma Testnet Guide Blog received an overwhelming 45,000 reads.

The growth of Velar's community across various channels has been nothing short of extraordinary. In just one month, the Discord community has grown from 500 to 15,500 members, while the Twitter following has skyrocketed from 1,200 to 11,000. Additionally, the Telegram community has experienced tremendous growth, surging from 0 to 3,600 members. This rapid expansion is a testament to the widespread recognition and excitement surrounding Velar and its mission to revolutionize DeFi on Bitcoin.

"We are immensely grateful to our incredible community for their overwhelming support and participation in the Velar Incentivized Testnet," said Mithil, Co-founder & CEO of Velar. "The record-breaking numbers and global reach highlight the immense potential of Velar and the growing demand for DeFi on the Bitcoin network."

With the Velar Incentivized Testnet's resounding success, Velar is one step closer to realizing its vision of unlocking Bitcoin's true potential and creating a sustainable and inclusive financial ecosystem. The journey toward Velar Dharma Mainnet has been paved with unprecedented engagement, innovation, and community collaboration.

Stay tuned as Velar continues to push the boundaries of DeFi on Bitcoin and prepares for the highly anticipated launch of Velar Dharma Mainnet. Together, we are shaping the future of decentralized finance on Bitcoin.

About Velar Protocol:

Velar is a DeFi Liquidity Protocol with Bitcoin finality. It is built on a Bitcoin L2 solution, Stacks, which leverages Bitcoin's security, network effect, decentralization, and other features while offering scalability, low fees, and programmability. Velar Dharma comes with farming, staking, swaps, liquidity pools, and an IDO launchpad, offering an excellent DeFi experience on Bitcoin.