Elastos, a project that Bitcoin wants to make in a more fruitful basis for decentralized finances (Defi), has raised $ 20 million for that purpose.
Elastos, a decentralized infrastructure provider, wants his Bitcoin Defi protocol BEL2 scales as a utility for the original blockchain in the world.
The company has collected $ 20 million from private investment company Rollman Management, with which it is planning to expand its ferge-geminated ela-token as a Bitcoin reserve assets, Elastos told an e-mail in an e-mail on Thursday.
Merge Mining is the process of mining two or more cryptocurrencies at the same time.
BEL2 is built to enable Bitcoin holders to undertake BTC in their portfolios and to access Ethereum Smart Contract Services, such as Mintbing Stablecoins and Peer-to-Peer borrow.
Elastos is one of one of a large number of projects that want to benefit from the approximately $ 2 trillion stored in Bitcoin by building Defi services that can finance BTCs Deep Wells.
Defi requires liquidity and security, which both Bitcoin can offer a stronger track record than any other blockchain. Historically, however, the network has missed the usefulness that Defi projects can use it, what Elastos and others want to tackle.
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