Peek behind the Curtain:
- 🎯Elastos, the maverick of decentralized infrastructure, plots to scale up its Bitcoin DeFi protocol, BeL2, as a utility layer for the OG blockchain.
- 💰$20 million in fresh funds from Rollman Management’s deep pockets will fuel this audacious plan.
👀Elastos, the project with dreams bigger than life itself, aims to transform Bitcoin into a DeFi playground. And guess what? They’ve just raked in a cool $20 million to make it happen! 🎉
💡Elastos, the decentralized infrastructure provider, has set its sights on scaling its Bitcoin DeFi protocol, BeL2, to become the go-to utility layer for the world’s first blockchain. Yes, you heard right, the OG!
Rollman Management, the private investment powerhouse, has poured in $20 million, enabling Elastos to expand its merge-mined ELA token as a Bitcoin reserve asset. This news comes straight from the horse’s mouth—Elastos to CoinDesk via email, on a Thursday. 📧
📚Merge mining, for the uninitiated, allows miners to mine multiple cryptocurrencies at once. How efficient is that?
BeL2 is designed to let bitcoin holders lock up their BTC and dive into Ethereum smart contract services. Minting stablecoins and engaging in peer-to-peer borrowing has never been easier—or more secure. 🤝
Elastos is part of a growing band of projects eyeing the $2 trillion in bitcoin, ready to build DeFi services that can tap into BTC’s vast reserves. 🤑
DeFi needs liquidity and security, both of which Bitcoin can offer with a track record that leaves others in the dust. But, historically, the network lacked the utility for DeFi projects to harness its full potential. That’s where Elastos and its ilk come in, ready to bridge the gap. 🔨
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2025-01-30 17:11