Elastos, a project that seeks to transform Bitcoin into a more fruitful base for decentralized finance (DEFI), has collected $ 20 million towards this objective.
Elastos, a supplier of decentralized infrastructure, aims to evolve its Bitcoin Defi Bel2 protocol as a utility layer for the original blockchain of the world.
The company has lifted $ 20 million from the private investment company Rollman Management, with which it plans to extend its ELA mined token as a Bitcoin reserve, Elastos to Coindesk in an E- Mail Thursday.
The merger of the exploitation is the process of exploring two cryptocurrencies or more simultaneously.
Bel2 is built to allow Bitcoin holders to Collateralize BTC in their portfolios and access to Ethereum smart contract services, such as the drop in stablescoins and the borrowing between peers.
Elastos is part of a large number of projects that seek to take advantage of about 2 billions of dollars stored in Bitcoin by building DEFI services that BTC deep wells can finance.
DEFI requires liquidity and security, both that Bitcoin can provide a stronger balance sheet than any other blockchain. However, historically, the network has missed the usefulness for DEFI projects to be able to exploit it, which Elastos and others aim to approach.
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