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.
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.
Source: https://www.cryptoninjas.net/2021/11/15/bitcoin-defi-service-platform-alex-raises-5-8m/
More from CryptoNinjas
Polkadot-powered DeFi platform Reef to utilize Pinknode for secure API endpoints
Source Node: 934843
Time Stamp: Jun 21, 2021
Crypto exchange ecosystem ShapeShift launches new version of its web platform
Source Node: 1161779
Time Stamp: Jan 20, 2022
Kirobo launches ‘Atomic Safe Swap’ to eliminate the risk of human error for P2P exchange
Source Node: 995847
Time Stamp: Jul 27, 2021
Enzyme revamps bug bounty program with up to $250,000 USDC in rewards
Source Node: 796558
Time Stamp: Apr 1, 2021
Blockchain trading protocol Morpher launches beta access to its new DEX
Source Node: 954332
Time Stamp: Jul 1, 2021
Metal Pay teams with Railsbank to launch its crypto payment app in Europe
Source Node: 1086520
Time Stamp: Sep 22, 2021
Bitcoin exchange platform Shakepay moving assets to Coinbase Custody cold storage
Source Node: 1112724
Time Stamp: Nov 15, 2021
Micropayment app Dropp receives fresh grant from Hedera
Source Node: 1262536
Time Stamp: Apr 13, 2022
Crypto exchange Gemini now registered as Virtual Asset Service Provider (VASP) in Ireland
Source Node: 1588899
Time Stamp: Jul 19, 2022
New Spring 2021 cohort of 12 crypto projects announced for CoinList Seed
Source Node: 883343
Time Stamp: May 26, 2021
Crypto securitization platform GenTwo links to all Coinbase assets
Source Node: 1897200
Time Stamp: Jan 14, 2023
Cosmos ecosystem’s Keplr Wallet integrates with interoperability network Axelar
Source Node: 1026880
Time Stamp: Aug 12, 2021