Home Earn Bitcoin Full Service Bitcoin DeFi Platform, ALEX Launches Mainnet on Stacks – The Bakersfield Californian

Full Service Bitcoin DeFi Platform, ALEX Launches Mainnet on Stacks – The Bakersfield Californian

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NEW YORK–(BUSINESS WIRE)–Jan 17, 2022–

ALEX, the primary full-service DeFi platform on Bitcoin introduced that will probably be deploying its mainnet on Stacks. With roughly $250 billion whole worth locked in DeFi, principally on Ethereum and different chains, ALEX unlocks Bitcoin’s DeFi potential by offering lending and borrowing providers to bitcoin holders.

Beginning on January 17, customers will be capable to use ALEX’s platform to lend quite a lot of crypto tokens, borrow at a hard and fast charge with out threat of liquidation, deposit tokens to earn curiosity, and interact in yield farming. ALEX may also introduce a sophisticated decentralized change (DEX), offering liquidity for merchants. These options will assist activate greater than $1 trillion of bitcoin that’s idly sitting in wallets.

ALEX additionally includes a launchpad the place rising initiatives can launch their very own tokens. Group members will vote on potential token listings throughout the Stacks ecosystem. The primary token to launch on the platform is ALEX’s native token $ALEX, which opened at a value of $0.32 for the Stacks group on January 10 and will probably be obtainable for staking on the time of mainnet on January 17.

“Final yr round this time, Stacks went from testnet to mainnet and introduced sensible contracts to Bitcoin, paving the best way for NFTs, DeFi protocols, and Web3 functions. In the present day, the ALEX staff is taking Bitcoin DeFi to the subsequent stage by permitting individuals to make use of their Bitcoin in new methods,” mentioned Dr. Chiente Hsu, CEO of ALEX. “We’ve created a useful software that may enable different initiatives within the Stacks ecosystem and the broader Bitcoin economic system to launch their very own tokens. This creates a place to begin for many who are nonetheless within the early levels of elevating capital.”

At press time, over 19,000 distinctive addresses accessed ALEX’s testnet with greater than 110,000 transactions processed. ALEX has accomplished audits with CoinFabrik and Lease Authority.

ALEX lately secured $5.8M in new financing led by White Star Capital with participation from Cultur3, GBIC, OK Blockchain Capital, and so forth. Following its seed spherical, ALEX raised an extra $2M in an oversubscribed personal spherical from Gemini, Hivemind, WhiteStar Capital and others. Retail traders can take part in ALEX’s IDO at app.alexlab.co.

To be taught extra about ALEX observe them on Twitter or be a part of their Discord channel.

About ALEX

ALEX is the primary full DeFi platform on Bitcoin through Stacks. ALEX brings your bitcoin to life by permitting: initiatives to launch their tokens, fixed-rated and fixed-term borrow/lending with out threat of liquidation, superior DEX (Decentralized Change), deposit tokens to earn curiosity and procure excessive returns by means of yield farming.

ALEX is a protocol constructed by veteran Quants who’ve constructed the quantitative techniques for Wall St. banks. ALEX has taken that data, expertise and talent in engineering strong modelling over to DeFi. The imaginative and prescient of ALEX is to create the primary really permission-less, trustless and decentralized monetary service for the individuals.

About Stacks

Safe sensible contracts and apps for Bitcoin. The Stacks ecosystem is a set of unbiased entities, builders, and group members working to construct a user-owned web on Bitcoin. The Stacks 2.0 blockchain extends the design of Bitcoin to allow safe apps and predictable Readability sensible contracts with out modifying Bitcoin itself, opening innovation on the community for the primary time. The Stacks cryptocurrency (STX) is used as gasoline for networking exercise and contract execution and might be locked by STX holders through ‘Stacking’ to earn Bitcoin (BTC) rewards for supporting blockchain consensus. Stacks cryptocurrency was distributed to most people by means of the first-ever SEC certified token providing in US historical past.

View supply model on businesswire.com:https://www.businesswire.com/news/home/20220117005119/en/

Press Contact: Chad Darwin, Wachsman PR (917-912-3620)

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY FINANCE SECURITY BANKING OTHER TECHNOLOGY PROFESSIONAL SERVICES INTERNET ELECTRONIC DESIGN AUTOMATION DATA MANAGEMENT

SOURCE: ALEX

Copyright Enterprise Wire 2022.

PUB: 01/17/2022 09:00 AM/DISC: 01/17/2022 09:02 AM

http://www.businesswire.com/news/home/20220117005119/en

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