ALEX, a full-service DeFi platform on Bitcoin via Stacks, today announced $5.8M in new financing led by White Star Capital with participation from Cultur3, GBIC, OK Blockchain Capital, and others.
The ALEX team will use the funds to launch its BTC-based platform secured by the Bitcoin blockchain. Currently operating on testnet, the plan is for ALEX to officially launch in December 2021.
ALEX is an open-source DeFi protocol built on Bitcoin via the Stacks blockchain
Aiming to bring full DeFi services to Bitcoin as a one-stop-shop platform, ALEX allows:
Projects to launch their tokens.Fixed-rate and fixed-term lending and borrowing.Decentralized exchange with both AMM (Automated Market Maker) and off-chain order-book.Deposit tokens to earn interest.Obtain exceptional returns via yield farmingAllows for borrowing without the risk of liquidation, via dynamic collateral rebalancing pools.
The post Bitcoin DeFi service platform ALEX raises $5.8M appeared first on CryptoNinjas.
Title: Bitcoin DeFi service platform ALEX raises $5.8M
Sourced From: www.cryptoninjas.net/2021/11/15/bitcoin-defi-service-platform-alex-raises-5-8m/
Published Date: Mon, 15 Nov 2021 16:47:12 +0000