ALEX, a full-service DeFi platform on Bitcoin by means of Stacks, today revealed $5.8M in brand-new funding led by White Star Capital with involvement from Cultur3, GBIC, OKAY Blockchain Capital, and others.
The ALEX group will utilize the funds to release its BTC-based platform protected by the Bitcoin blockchain. Currently operating on testnet, the strategy is for ALEX to formally release in December 2021.
Aiming to bring complete DeFi services to Bitcoin as a one-stop-shop platform, ALEX permits:
- Projects to release their tokens.
- Fixed-rate and fixed-term financing and loaning.
- Decentralized exchange with both AMM (Automated Market Maker) and off-chain order-book.
- Deposit tokens to make interest.
- Obtain extraordinary returns by means of yield farming
- Allows for obtaining without the threat of liquidation, by means of dynamic collateral rebalancing pools.