{"id":10502,"date":"2025-01-30T14:01:52","date_gmt":"2025-01-30T14:01:52","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=10502"},"modified":"2025-01-30T14:01:52","modified_gmt":"2025-01-30T14:01:52","slug":"elastos-raises-20m-to-build-native-bitcoin-defi-protocol","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=10502","title":{"rendered":"Elastos Raises $20M to Build Native Bitcoin DeFi Protocol"},"content":{"rendered":"<div>\n<p>Elastos, a project looking to turn Bitcoin into a more fruitful base for decentralized finance (DeFi), has raised $20 million towards that goal.<\/p>\n<p>Elastos, a decentralized infrastructure provider, aims to scale its Bitcoin DeFi protocol BeL2 as a utility layer for the world&#8217;s original blockchain.<\/p>\n<p>The firm has raised $20 million from private investment company Rollman Management, with which it plans to expand its merge-mined ELA token as a Bitcoin reserve asset, Elastos told CoinDesk in an email on Thursday.<\/p>\n<p>Merge mining is the process of mining two or more cryptocurrencies simultaneously.<\/p>\n<p>BeL2 is built to allow bitcoin holders to collateralize BTC in their wallets and access Ethereum smart contract services, such as minting stablecoins and peer-to-peer borrowing.<\/p>\n<p>Elastos is one of a large number of projects looking to capitalize on the roughly $2 trillion stored in bitcoin by building DeFi services that BTC&#8217;s deep wells can fund.<\/p>\n<p>DeFi requires liquidity and security, both of which Bitcoin can provide with a stronger track record than any other blockchain. However, historically, the network has lacked the utility for DeFi projects to be able to harness it, which is what Elastos <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/12\/20\/could-bitcoin-become-de-fi-s-collateral-of-choice-lombard-finance-says-so\" target=\"_blank\">and others are aiming to address<\/a>.<\/p>\n<p>Read More: <a href=\"https:\/\/www.coindesk.com\/tech\/2025\/01\/22\/bitcoin-based-stablecoin-usdh-secures-usd3m-in-liquidity\" target=\"_blank\">Bitcoin-Based Stablecoin USDh Secures $3M in Liquidity<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Elastos, a project looking to turn Bitcoin into a more fruitful base for decentralized finance (DeFi), has raised $20 million towards that goal. Elastos, a decentralized infrastructure provider, aims to scale its Bitcoin DeFi protocol BeL2 as a utility layer for the world&#8217;s original blockchain. The firm has raised $20 million from private investment company [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-10502","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10502"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10502\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}