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 company will use the funds to build out its bitcoin-based DeFi platform secured by the Bitcoin blockchain. Currently, 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.