Bitcoin DeFi service platform ALEX raises $5.8M

Bitcoin DeFi service platform ALEX raises $5.8M

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.
ALEX is an open-source DeFi protocol built on Bitcoin via the Stacks blockchain
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.

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Johnny Liles