ALEX DeFi Protocol Now Supports BRC20 Tokens

IconCryptoNewsTerminal Staff07 Jul, 2024

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ALEX DeFi Protocol Now Supports BRC20 Tokens

ALEX, the DeFi protocol built on Stacks (STX), announced on Twitter today that it has activated its BRC20 bridge. This allows users to transfer BRC20 tokens, which are based on the Bitcoin blockchain, to and from the Stacks blockchain. The bridge is a significant development for ALEX, as it allows users to access a wider range of DeFi services and tokens. Previously, ALEX only supported STX tokens. With the addition of BRC20 support, users can now trade, lend, and borrow a variety of assets on the ALEX platform. The ALEX team also announced that it will be launching a RUNES bridge early next week. RUNES is a token that is used to pay for gas fees on the Stacks blockchain. The addition of a RUNES bridge will make it easier for users to interact with the Stacks ecosystem. The activation of the BRC20 bridge is a major step forward for ALEX and the Stacks ecosystem. It will allow users to access a wider range of DeFi services and tokens, and it will make it easier for users to interact with the Stacks blockchain.

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