Elipos, a project looking to make Bitcoin more fruitful for decentralized finances (DEFI), has raised $ 20 million to that goal.
Elipos, a decentralized infrastructure provider, aims to measure the Bitcoin Defi Protocol Bel2 as a layer of utility for the original blockchain in the world.
The firm has raised $ 20 million from the private investment company Rollman Management, where it plans to expand the integrated ELA token as an asset of the Bitcoin reserve, Elastas told CoinDesk in an email Thursday.
Mining with mining is the process of mining two or more cryptocurrencies at the same time.
Bel2 was built to allow Bitcoin holders to collateralize BTC in their wallets and access Ethereum Smart Contract services, such as mininting stablecoins and peer-to-peer borrowing.
Elastos is one of a large number of projects looking to achieve nearly $ 2 trillion stored in Bitcoin by developing Defi services that can be funded by BTC’s Deep Wells.
The defi requires liquidity and security, both of which Bitcoin can provide a stronger track record than any other blockchain. However, history, the network lacks utility for defi projects to use it, which is what is elapost and others aim to address.
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