An expanding BRC-20 exchange fuels DeFi boom on Bitcoin
Bitcoin’s recent Taproot upgrade birthed a new protocol known as Taproot Ordinals. This innovation now allows users to mint BRC-20 tokens on Bitcoin.
While these tokens are still somewhat under the radar, their impact is increasingly evident in Bitcoin transaction numbers. The growing demand has put a strain on Bitcoin, resulting in higher transaction fees.
For investors wanting BRC-20 tokens, availability is a key concern.Multiple projects are rising to tackle these challenges, including a decentralized finance (DeFi) platform called ALEX.In April 2021, entrepreneurs Dr.
Chiente Hsu and Ms. Rachel Yu noted the rapid expansion of DeFi and the relative lack of mainstream adoption. To help DeFi mature, they decided to create ALEX, an automated liquidity exchange.
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