Alpha Finance Lab is starting a new year with Alpha Homora V2 that will be launched this month in January! The new logo, new user interface, more functionalities, and most importantly more partners that Alpha Homora V2 integrates with mark a significant milestone for Alpha Homora product and Alpha Finance Lab project as a whole.
Cream Finance, SushiSwap, Curve, and Balancer officially join Alpha Homora V2 as partners to bring growth to Alpha Homora V2, their respective platforms, and the whole DeFi ecosystem.
Our partners Cream and SushiSwap share their thoughts below.
“This partnership is a win-win for both Alpha Homora V2 and Cream V2 products, as Cream V2 users get higher yields from Alpha Homora V2 leveraged yield farming. Alpha Homora V2 users can also take leverage on more assets by sourcing liquidity from Cream V2.” - Leo Cheng, Co-Founder of Cream Finance
“One of the key features in Alpha Homora V2 that I like is not having the reinvestment function or not selling farmed tokens for more yields. Alpha team’s value to bring growth to the whole DeFi ecosystem and their partners’ communities by not having the reinvestment function really aligns with that of SushiSwap, and we are looking forward to more collaboration with the Alpha team in the future.” - 0xMaki, core member of SushiSwap
Alpha Homora V2 is one of the many Alpha products that will be launched this year in 2021 under the Alpha Finance Lab project. As Alpha Finance Lab continues to grow, we will continue to not only innovate in the DeFi space, but also help bring growth to our partners and the whole DeFi landscape.
Our partners Curve and Balancer share their thoughts below.
"It’s been a pleasure working closely with the Alpha Finance Lab team to integrate Alpha Homora V2 with Curve. Alpha is a great project with many use cases to further improve the DeFi ecosystem. Looking forward to Alpha Homora V2 launch and more collaboration!” - Charlie, project lead of Curve
“We love to see innovative products like Alpha Homora V2 using Balancer under the hood. The idea of leveraging LP yield is great as it improves capital efficiency. However users should also bear in mind the risks of being liquidated like in any other leveraged positions.” - Fernando, Co-Founder & CEO of Balancer Labs
Unwrapping Alpha Homora V2
The image below shows a sneak peek of Alpha Homora V2 user interface!
Key features and functionalities in Alpha Homora V2 include
- Enabling leveraged yield farming of liquidity pools that are on Curve, Balancer, SushiSwap, and Uniswap
- Leveraged yield farmers can take leverage on many assets including ETH, stablecoins, and other assets
- For leveraging on stablecoins, users can open up to 9x positions
- Flexible leveraged yield farming - users can borrow multiple assets, re-leverage, and deleverage their positions easily
- Alpha Homora V2 will not automatically sell the farmed tokens to reinvest, as we want to help strengthen our partners’ communities
- Similar to Alpha Homora V1, users don’t need to have equal value of both tokens in order to provide liquidity or yield farm
How Does Leveraged Yield Farming Work in Alpha Homora V2?
Alpha Homora V2 makes sure to maintain the user friendliness that Alpha Homora v1 has. Thus, users will be able to leverage yield farm in 4 simple steps.
- Select the pool on Alpha Homora V2. As mentioned above, Alpha Homora V2 will enable leveraged yield farming of liquidity pools that are on Curve, Balancer, SushiSwap, and Uniswap.
- Supply any of the 2 tokens for that pool. For instance, when leveraged yield farming on ETH/USDT pool on SushiSwap, you can supply only ETH or USDT or both. Image below.
3. Enter which asset you want to borrow at what leverage level. You will be able to borrow multiple assets. For leveraging on stablecoins (USDT, USDC, DAI), you can go as high as 9x. Image below.
4. Finally, confirm the strategy. After that, Alpha Homora will take care of everything for you. Image below.
How Does Lending Work in Alpha Homora V2?
To enable our users to take leverage on many assets without having to bootstrap liquidity for all of them ourselves, we are partnering and integrating deeply with Cream V2 as a source of liquidity. This enables us to quickly grow and scale Alpha Homora V2 while bringing more growth to our partner, Cream, as well.
Alpha Homora V2 and Cream V2 contracts are integrated and interoperated at a deep level that has never been done before in DeFi. This is the first time that a contract (Alpha Homora V2) can borrow from a lending protocol (Cream V2) in an under-collateralized way. Alpha Homora V2 will borrow liquidity from Cream V2 and offer as leverage for our users. Thus, Cream users will also benefit from higher lending interest rates.
What About ALPHA Token Utility In Alpha Homora V2?
After launching Alpha Homora V2, we will also roll-out new ALPHA token utilities on Alpha Homora V2! Sneak peek of those utilities are that ALPHA token holders can:
- Earn higher yields
- Unlock special features on Alpha Homora V2
We will share more details on this to the community soon!
Once Alpha Homora V2 launches this January, we will start the migration process, migrating positions and liquidity from Alpha Homora v1 to Alpha Homora v2. We will make sure the migration process is smooth and easy for users.
While this marks a significant milestone for Alpha Finance Lab project, we believe we are still early in the project days, as there are more problems we are looking to solve with new, innovative and user friendly Alpha products.
About Alpha Finance Lab
Alpha Finance Lab is an ecosystem of DeFi products that will interoperate to maximize returns while minimizing downside risks for users. Each Alpha product focuses on capturing unaddressed demand in DeFi in an innovative and user friendly way.