According to industry reports, Alex secured $5.8 million in seed funding on November 15, 2021. The round was led by White Star Capital, venture capital divisions of leading exchanges, CatcherVC, GBIC, and Cultur3 Capital, among others. Following this round, Alex’s cumulative funding reached $18.3 million.Alex is an open-source Bitcoin DeFi platform built on the Stacks blockchain. The platform enables users to issue their own tokens, engage in lending and borrowing at fixed rates and terms with no liquidation risk, access advanced decentralized exchanges, deposit tokens to earn interest, and participate in yield farming for high returns.Since its inception, Alex has experienced rapid growth. After closing its seed round in November 2021, the project officially launched on mainnet in January 2022. Throughout 2023, Alex completed multiple funding rounds and opened trading in April. Notably, the project secured $10 million in strategic financing in March 2024 but suffered a hack in May 2024 resulting in a loss of approximately $3.4 million. Despite these challenges, Alex continues to advance and enhance its product offerings as a key DeFi project within the Bitcoin ecosystem, contributing to the ongoing development and prosperity of Bitcoin DeFi.