Bitcoin DeFi service platform ALEX raises $5.8M » CryptoNinjas
![](https://cryptonewswire.org/wp-content/uploads/alex-cryptoninjas-bitcoin.png)
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.
![](https://www.cryptoninjas.net/wp-content/uploads/alex-platform-513x330.png)
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.