Elastos, a project that seeks to turn Bitcoin into a more fruitful base for decentralized finances (DEFI), has raised $ 20 million for that goal.
Elastos, a decentralized infrastructure provider, aims to climb its Bitcoin Bel2 protocol as a utility layer for the original block chain of the world.
The firm has raised $ 20 million from the private investment company Rollman Management, with which it plans to expand its Mina Mine token as a Bitcoin reserve asset, Elastos to Coindesk told Codendesk in an email on Thursday.
Fusion mining is the two or more cryptocurrency mining process simultaneously.
Bel2 is built to allow Bitcoin headlines to collaze BTC in their wallets and access Ethereum’s smart contract services, such as coining stables and pairs in pairs.
Elastos is one of the great projects that seek to capitalize on the approximately $ 2 billion stored in Bitcoin by building services defined that deep BTC wells can finance.
Defi requires liquidity and safety, which Bitcoin can provide with a stronger history than any other block chain. However, historically, the network has lacked the utility for the projects to take advantage of it, which is what elastos and others seek to address.
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