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Bitcoin DeFi service platform ALEX raises $5.8M » CryptoNinjas

Written by James Smith

ALEX, a full-service DeFi platform on Bitcoin through Stacks, at this time introduced $5.8M in new financing led by White Star Capital with participation from Cultur3, GBIC, OK Blockchain Capital, and others.

The ALEX group will use the funds to launch its BTC-based platform secured by the Bitcoin blockchain. At present working on testnet, the plan 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 convey full DeFi providers to Bitcoin as a one-stop-shop platform, ALEX permits:

  • Tasks to launch their tokens.
  • Fastened-rate and fixed-term lending and borrowing.
  • Decentralized trade with each AMM (Automated Market Maker) and off-chain order-book.
  • Deposit tokens to earn curiosity.
  • Get hold of distinctive returns through yield farming
  • Permits for borrowing with out the danger of liquidation, through dynamic collateral rebalancing pools.

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James Smith

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