ALEX develops a decentralized finance layer tailored to the Bitcoin ecosystem. The protocol leverages Layer2 solutions, cross-chain bridges, oracles and additional infrastructure to enable Bitcoin-native DeFi. The team intends to continue building its financial layer on Stacks. The company completed a strategic financing to fund continued protocol and infrastructure development. The article does not disclose operating metrics such as revenue or user counts. The financing is positioned to accelerate ALEX's technical roadmap on Bitcoin-focused stacks. ALEX is deploying its mainnet on Stacks to bring permissionless DeFi to Bitcoin, offering fixed-rate, fixed-term lending and borrowing without risk of liquidation. The platform also includes an advanced decentralized exchange, yield farming, and a launchpad where community members vote on token listings. ALEX’s native token $ALEX opened at $0.32 for the Stacks community on January 10 and will be available for staking at mainnet on January 17. On testnet, over 19,000 unique addresses accessed ALEX and more than 110,000 transactions were processed. The protocol has completed audits with CoinFabrik and Lease Authority and aims to activate dormant bitcoin holdings, citing the potential to mobilize over $1 trillion of idle bitcoin. Financially, ALEX has secured recent financing including a $5.8M round and an additional $2M oversubscribed private round, and plans a retail IDO.

Total raised

$16M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2024