Erastos is a project that is trying to turn into a more fruitful foundation of the decentralized finance (Defi), and has raised $ 20 million for that goal.
ElastOS, a distributed infrastructure provider, aims to scaled Bitcoin Defi Protocol2 as a utility layer of the world’s original blockchain.
The company said that it was raising $ 20 million from a private investment company RollMan Management, and that MergeMined Ela Token would be expanded as a bitcoin reserved asset, Elastos told COINDESK by email on Thursday.
Merge mining is a process of mining two or more cryptocurrencies at the same time.
BEL2 has been built so that Bitcoin holders can secure BTC in a wallet and access Ethereum Smart Contract Services, such as borrowing Minting StableCoins and Peer-to-Peer.
ELASTOS is one of the many projects that is trying to use about $ 2 trillion in Bitcoin by building a Defi service that can provide funds by BTC DEEP WELLS.
Defi requires fluidity and security, and both can provide stronger achievements than any other blockchain. However, historically, the network lacked a network to make use of it. This is what Elastos and others aim to deal with.
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