Elastos Gets $20M Boost From Arrington XRP Capital to Revolutionize Bitcoin DeFi
Elastos, a pioneering decentralized finance (DeFi) platform built on Bitcoin, has received a significant boost with a $20 million investment from Arrington XRP Capital. The platform, which acts as a utility layer on top of Bitcoin, is poised to revolutionize the DeFi sector.
Elastos' innovative approach sets it apart from other DeFi platforms. It uses a decentralized governance system based on its native token, ELA, ensuring both security and democratic management. The platform's native Bitcoin DeFi protocol, BeL2, allows users to access Ethereum smart contract services without compromising security or direct ownership of their assets.
The total value locked (TVL) in the Bitcoin DeFi ecosystem has surpassed $7,200 million, reflecting rapid growth and increasing institutional adoption. Elastos' ambition is to further boost development in this sector. The platform, Elacity, enables creators to monetize their digital content in a decentralized manner through content tokenization. Elastos focuses on enhancing Bitcoin directly to facilitate DeFi app creation, addressing its inherent limitations.
With a $20 million investment from Rollman Management, Elastos is well-positioned to continue its innovative work in the DeFi sector. Its unique approach to decentralization, scalability, and security, along with its community governance model, sets it apart and promises a bright future for the platform and the broader Bitcoin DeFi ecosystem.
