December 6, 2022

CryptoTraders365

Bitcoin DeFi service platform ALEX raises $5.8 M

1 min read
1 year ago Crypto5

ALEX, a full-service DeFi platform on Bitcoin by means of Stacks, today revealed $5.8 M in brand-new funding led by White Star Capital with involvement from Cultur3, GBIC, OK Blockchain Capital, and others.

The ALEX group will use the funds to introduce its BTC-based platform secured by the Bitcoin blockchain. Presently running on testnet, the strategy is for ALEX to formally launch in December 2021.

ALEX is an open-source DeFi protocol constructed on Bitcoin through 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 remarkable returns by means of yield farming
  • Allows for obtaining without the risk of liquidation, via dynamic collateral rebalancing swimming pools.

The post Bitcoin DeFi service platform ALEX raises $5.8 M appeared first on CryptoNinjas.

Crypto5

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