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.
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.
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