Elastos Announces $20 million Funding from Rollman Management to Scale its Bitcoin-Aligned Ecosystem
Elastos, a native Bitcoin DeFi protocol, and Web3 data economy is excited to announce that it has secured $20 million in funding to scale its Bitcoin-aligned ecosystem.
According to the announcement, this funding results from its recent strategic partnership with Rollman management to fuel the launch of Elastos Native Bitcoin DeFi protocol BeL2. BeL2 is set for launch in Q2 of 2025. The protocol is designed to allow Bitcoin holders to collateralize BTC assets in their wallets. The protocol will also allow holders access to Ethereum smart contract services, including minting stablecoins, borrowing assets peer-to-peer, and performing swaps, all within the Elastos ecosystem. BeL2 combines zero-knowledge proofs, locking scripts, oracles, and an arbiter network that all come together to allow ELA stakeholders to stake ELA and earn BTC fees as decentralized nodes to support the protocol.
Known for its high-profile investments, Rollman Management is a private investment and consulting company led by Victor R. Ch. Rollman Management is well-positioned to provide Elastos with the necessary resources to make it the utility later for Bitcoin. Rollman management has invested in top blockchain projects, including Ethereum, Solana, and Planck. This investment funding now ranks Elastos among Rollman managements top five holdings.
This new funding will help Elastos expand its merge-mined ELA token to become a Bitcoin reserve asset. Since 2018, the ELA token has gained Bitcoins hash power through merge-mining, granting it security and decentralization features that align with Satoshi Nakamotos 2010 vision. This has made ELA an economically reserve asset for Elastos Bitcoin-native DeFi system.
The Elastos team will also be able to accelerate the development of its new product, Elacity, which is scheduled to launch in April. Elacity is a Web3 data marketplace created to enable creators to monetize content for audio and video markets. This marketplace is designed to allow creators to make the most from their content by eliminating intermediaries from the process. Elacity has shown great prospects, with a creator earning as much as $5600 within 24 hours during early testing rounds.
Commenting on the project, Elastos founder Rong Cheng stated:
Leveraging Bitcoins trillion-dollar consensus to empower Web3 users with scalable utilitiesthats where Elastos comes in. Merge-mining ties ELAs security to Bitcoins, and BeL2, Elastos decentralized finance protocol, unlocks BTC-backed DeFi without compromises, whilst Elacity creates a decentralized digital goods economy on top. Rollmans investment supports our role as Bitcoins layer.
Adding to the technological advancements, Elastos has also created a Cyber Republic Consensus (CRC) governance model to ensure decisions made reflect Elastos community interest. The CRC was formalized as a DAO LLC in the Marshal Islands, signing the strategic partnership with Rollman management. The CRC is a delegate system that allows community members to stake Bitcoin merge-mined ELA. Members can also earn APY and participate in the annual electionor run asone of 12 council members. The council is tasked with various responsibilities, including driving innovation, signing contracts, voting on proposals, and validating Elastos Smart (EVM) and Identity (DID) sidechains.
Text source: ZyCrypto
