Alpha Homora has now launched on the Ethereum mainnet for UNI and INDEX yield farming! 2.5M ALPHA to be distributed during 30-day ALPHA liquidity mining period from October 9th, 12:00PM UTC to November 8th, 12:00PM UTC.

Access Alpha Homora here: https://homora.alphafinance.io/

How To Use Alpha Homora? 🧙‍♀️

ETH lenders: Once you deposit your ETH, you will earn 2 things:

1️⃣ Earn interest paid by borrowers, depending on ETH utilization rate*.

2️⃣ Earn ALPHA from using Alpha Homora (see ALPHA Liquidity Mining section below)

*Note: 10% of borrower’s interest is allocated for reserves.

Yield Farmers:

  1. Select pool to farm by clicking on Farm 2.5x (or 1.75x) button. Note, you can open up to 2.5x leverage on the 4 Uniswap pools and 1.75x leverage on IndexCoop pool  

2. Enter how many ETH you want to use to farm UNI or INDEX

3. Select level of leverage you want to enter at

4. For example, by farming with 2 ETH and selecting 2x leverage, you are telling Alpha Homora to borrow an additional 2 ETH for you to farm as well. Your final position is then 4 ETH.

5. By using Alpha Homora, you are earning from 3 things and paying a borrow interest rate*.

1️⃣ Yield Farm APY: APY from yield farming UNI or INDEX

2️⃣ Trading Fees APY: APY from trading fees on Uniswap or IndexCoop

3️⃣ Rewards per Day: ALPHA earned from using Alpha Homora (see ALPHA Liquidity Mining section below)

*Note: Borrower's interest rate follows a triple-slope-curve.  depends on ETH utilization.

ALPHA Liquidity Mining Summary 💰

  • Starting from October 9th at 12:00PM UTC to November 8th at 12:00PM UTC. The liquidity mining incentive will run for 30 days.
  • 2.5M ALPHA will be rewarded in total (75% lenders, 25% borrowers)
  • Lenders will get ALPHA based on how many ETH they lend proportionate to total ETH in lending pool
  • Borrowers will get ALPHA based on how many ETH they borrow proportionate to the total ETH borrowed
  • ~0.72 ALPHA rewarded / second for lenders
  • ~0.24 ALPHA rewarded / second for borrowers
  • We will use snapshot to calculate how many ALPHA each user gets
  • Users can claim ALPHA reward only at the end of the liquidity mining period (i.e. November 8th 12:00PM UTC) on https://homora.alphafinance.io

FAQ

💭 What is Alpha Homora?

Check out details here: https://blog.alphafinance.io/alpha-homora/

💭 Has Alpha Homora been reviewed by code auditors?

Alpha Homora has gone through security review (informal audit given the time scope) by PeckShield, see here: https://github.com/peckshield/publications/blob/master/reviews/PeckShield-Security-Review-Alpha-Homora-v1.0.pdf

💭 What are the risks associated with using Alpha Homora?

More details on risks can be found here: https://blog.alphafinance.io/alpha-homora-risk-analysis/

💭 Is there a calculator that I can use to approximately calculate what my position is going to be given my initial ETH capital and the leverage that I choose?

Yes, you can find the calculation here: https://docs.google.com/spreadsheets/d/1DPlZAlOyc8ErDrMz66lk03Qfd8O46iSB2kfxf-UojLw/edit#gid=934886798


About Alpha

Alpha Finance Lab is an ecosystem of DeFi products, starting on Binance Smart Chain and Ethereum. Alpha Finance Lab is focused on building an ecosystem of automated yield-maximizing Alpha products that interoperate to bring optimal alpha to users on a cross-chain level.


We are moving at a rapid pace, so we encourage everyone to join our Discord for the latest updates, follow us on Twitter, or read more about us on our Blog!