Last month in December 2020, beta private testnet of AlphaX, a non-orderbook perpetual swap product and the second product, went live. We successfully gave access to 292 community members who signed up to test, give feedback, and actively share different innovative ideas for AlphaX.
While our team is getting ready for Alpha Homora V2 launch, we have also been working on AlphaX to improve on the feedback we’ve got and add new features!
With that said, AlphaX beta private testnet round 2 is now live!
What is beta private testnet and how do you get access to it?
The new iteration of AlphaX will be shared with community members who sign up to test and give feedback on. This process will allow community members to take a more active role in helping to test AlphaX and working closely with the core Alpha development team.
To get access to AlphaX beta private testnet round 2, simply send a direct message to Alpha Finance Lab Twitter account to express your interest.
Recap on AlphaX
AlphaX is a non-orderbook perpetual swap trading product and the second product by Alpha Finance Lab that will bring unique use cases and a new class of trading product previously unavailable on-chain to the DeFi ecosystem.
AlphaX’s main differentiated functionalities (among a few others) are
- Baking funding rate payments into the price traders open and close position at
- Tokenizing leveraged positions (ERC-20 tokens)
What do these two main differentiated functionalities mean to users, traders, developers in DeFi?
👉 Anyone who wants to be exposed to leveraged position (long or short) can either open a position on AlphaX or buy the equivalent leveraged token on secondary markets such as Uniswap, Sushiswap, etc.
👉 Traders and DeFi users will be able to simply hold the leveraged tokens to be exposed to leveraged positions or even to hedge their existing positions, without having to worry about funding rate payments.
👉 Alpha Homora users can hedge their leveraged positions to minimize downside risks.
👉 Developers can further build secondary markets and drive more usages for these leveraged tokens that are ERC-20 in other DeFi protocols.
All in all, these capabilities will enable AlphaX to continue innovating in the DeFi space and drive more interoperability among Alpha products and with the other DeFi protocols.
About Alpha Finance Lab
Alpha Finance Lab is an ecosystem of DeFi products that will interoperate to maximize returns while minimizing downside exposure to users. Alpha products focus on capturing unaddressed demand in DeFi in an innovative and user friendly way.