Alpha Finance Lab Launches Alpha Homora DeFi Rate

Alpha Finance – a leveraged yield aggregator – has launched its second product “Alpha Homora“, designed to make leveraged yield farming simple and unlock various yield farming enhancements.

1) $ALPHA Homora! 🧙‍♀️ We are excited to announce that our first Alpha product on #Ethereum network, Alpha Homora, will be launched on Thursday Oct. 8 @ 1pm UTC. Let the magic begin 🎩 👇https://t.co/FVG05aKB0S

— Alpha Finance Lab (@AlphaFinanceLab) October 5, 2020

Their first product was “Alpha Lending”, launched in September 2020 on the Binance Smart Chain (BSC).  The team has previously described their new product as “dYdX for yield farming on Uniswap“.  Alpha Finance is backed by prominent investors in the space such as The Spartan Group, Multicoin Capital, and DeFiance Capital.

At launch, there will be four supported pools on Alpha Homora for users to deposit into.

These pools correspond with the current incentivized pools on Uniswap. Once live, users can farm with 3x leverage and automate the re-investing of their profits from farming.

Alpha Homora features four distinct actors:

  • Yield Farmers
  • ETH lenders
  • Liquidators
  • Bounty hunters

To learn about how each user type, read the full official blog post on Alpha Homora here. The mainnet launch occurred this Thursday, Oct. 8th, showcasing its ecosystem of DeFi products, building first on Binance Smart Chain and now on Ethereum. The team believes that the future of yield farming will be cross-chain and automated, so they are set on creating the toolset that will enable users to attain optimal multi-chain alpha.

ALPHA Token

ALPHA is the native governance token of Alpha Finance Labs. It is currently unlisted but will be available on Binance starting tomorrow, October 10th, 2020.

ALPHA is staked to unlock the interoperability features between Alpha Lending and Alpha Homora. Token holders can stake their ALPHA to earn a share of protocol fees and participate in protocol governance.

See here for more details on participating in Binance Launchpad and Binance Launchpool. You can also check out PeckShield’s review of Alpha Homora’s codebase here.

Farming ALPHA

Thus far, no official announcements have been made in regard to any liquidity mining program on Ethereum. However, users can still stake BAND, BNB, and BUSD to earn ALPHA through the Binance Launchpool. Launchpool rewards are already live and will end on October 30, 2020. Here’s a look at the reward distribution below.

 

To stay up with Alpha Finance, follow them on Twitter or join the dicussions in Discord.

The post Alpha Finance Lab Launches Alpha Homora appeared first on DeFi Rate.

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