{"id":52924,"date":"2021-11-16T10:09:54","date_gmt":"2021-11-16T08:09:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=52924"},"modified":"2025-09-03T12:33:06","modified_gmt":"2025-09-03T09:33:06","slug":"alex-startup-raises-5-8-million-to-build-a-defi-platform-on-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/alex-startup-raises-5-8-million-to-build-a-defi-platform-on-bitcoin\/","title":{"rendered":"Alex startup raises $5.8 million to build a DeFi platform on Bitcoin"},"content":{"rendered":"<p>The team behind the Alex decentralized platform on the Stacks blockchain has raised $5.8 million in a funding round led by White Star Capital.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u201cThe place we want to secure for <a href=\"https:\/\/twitter.com\/alexgoBtc?ref_src=twsrc%5Etfw\">@alexgoBtc<\/a> is the \u201cthe gold standard\u201d of <a href=\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&#038;ref_src=twsrc%5Etfw\">#DeFi<\/a>: the most secure, most transparent, and most decentralized financial service the world has ever seen. Finance for the people, where we trust only code,\u201d <a href=\"https:\/\/twitter.com\/RuleBasedInvest?ref_src=twsrc%5Etfw\">@RuleBasedInvest<\/a> told <a href=\"https:\/\/twitter.com\/decryptmedia?ref_src=twsrc%5Etfw\">@decryptmedia<\/a>. <a href=\"https:\/\/t.co\/nYE2UZXoyy\">https:\/\/t.co\/nYE2UZXoyy<\/a><\/p>\n<p>\u2014 alexGo.btc (@alexgoBtc) <a href=\"https:\/\/twitter.com\/alexgoBtc\/status\/1460285574917636104?ref_src=twsrc%5Etfw\">November 15, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Participating in the round were venture firms Cultur3, GBIC and OK Blockchain Capital. The project will channel the raised funds toward expanding its development team.<\/p>\n<p>The Alex team is building a universal DeFi platform that allows lending and borrowing Bitcoin, the USDC stablecoin and Stacks-based tokens for a set term at a <a href=\"https:\/\/u1f987.com\/en\/news\/a-safe-harbour-in-defis-rough-seas-how-fixed-rate-lending-protocols-are-evolving\">fixed rate<\/a>. The protocol also supports decentralized asset exchange using both an automated market maker mechanism and an off-chain order book.<\/p>\n<p>Co-founders Kiente Hsu and Rachel Yu previously developed quantitative strategies for a number of major banks, including Credit Suisse, Goldman Sachs and Morgan Stanley.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abStacks makes Bitcoin a programmable base layer, opening the possibility of running decentralized applications and smart contracts\u00bb, \u2014 according to <a href=\"https:\/\/alexgo.io\/\">the project\u2019s website<\/a>.<\/p>\n<\/blockquote>\n<p>The Alex testnet has been running since September 27. The mainnet launch is planned for November 30, 2021.<\/p>\n<p>Earlier developers Nicolas Dorier and Chris Stewart <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-network-hosts-first-discreet-log-contract\">deployed a smart contract on the Bitcoin network<\/a> using the Discreet Log technology, wagering $10,000 on the outcome of the U.S. presidential election.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The team behind the Alex decentralized platform on the Stacks blockchain has raised $5.8 million in a funding round led by White Star Capital.<\/p>\n","protected":false},"author":1,"featured_media":52925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1133],"class_list":["post-52924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=52924"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52924\/revisions"}],"predecessor-version":[{"id":52926,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52924\/revisions\/52926"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/52925"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=52924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=52924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=52924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}