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Bitcoin DeFi service platform ALEX raises $5.8M

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...

Bitcoin DeFi service platform ALEX raises $5.8M

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 farming
  • Allows 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.

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