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…
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.

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Crypto exchange Bit.com upgrades trading system to utilize all assets for margin
Read More

Crypto exchange Bit.com upgrades trading system to utilize all assets for margin

Bit.com, a cryptocurrency derivatives exchange, today announced the official launch of its new professional Unified Margin (UM) trading system that can use all currency assets for margin to trade its full range of products. Currently, UM mode is supported on web and API (to launch on mobile app later). With the new trading platform, users…
TGV4 Plus leads investment round in decentralized mobility marketplace Iomob
Read More

TGV4 Plus leads investment round in decentralized mobility marketplace Iomob

Iomob is building a decentralized protocol for the Internet of Mobility... True Global Ventures 4 Plus (TGV4 Plus), a venture capital firm focused on technology, announced today it has led the latest investment round in Iomob, which is building a decentralized protocol for the creation of the Internet of Mobility, an interoperable Mobility Marketplace Network…
Polygon set to release zero-knowledge (ZK) scaling solution compatible with Ethereum
Read More

Polygon set to release zero-knowledge (ZK) scaling solution compatible with Ethereum

Polygon, the popular Ethereum-focused scaling platform, today announced the launch of Polygon zkEVM, the first Ethereum-equivalent scaling solution that works seamlessly with all existing smart contracts, developer tools, and wallets, harnessing advanced cryptography called zero-knowledge proofs. As of now, Polygon has released part of the source code and roadmap for zkEVM, with the public testnet…
Crypto lending app CoinLoan completes attack tests from Blaze to enhance security
Read More

Crypto lending app CoinLoan completes attack tests from Blaze to enhance security

Related News Armadillo, a multi-chain impermanent loss (IL) protection solution powered by the Crypto Volatility Index (CVI) from COTI, will be using Chainlink Keepers on Polygon to automate IL protection payout. CVI operates a basket of... Read more Bit2Me, the first crypto exchange recognized by the Bank of Spain as a virtual currency service provider,…