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.