It was a busy April at Alpha Finance Lab. Let us take a short break from building to give the Alpha Wolf community a full recap of April along with a sneak peak of what we have been working on which will power the next growth stage at Alpha starting this Q2.
This blog will break down the details into the following sections:
- Alpha Tokenomics
- Alpha Homora V2
- Alpha Homora ecosystem
- Alpha Grants Program
- Next growth stage at Alpha starting this Q2
1) Alpha Tokenomics
Alpha Tokenomics, which includes staking ALPHA and Alpha Tiers, went live on March 31, 2021 on Ethereum. Currently, more than 58.8 Million ALPHA tokens ($127M+) are being staked. This figure suggests that 23.5% of ALPHA’s circulating supply is being staked at the moment.
By staking, ALPHA stakers earn a share of protocol fees generated from the whole Alpha ecosystem regardless of which chains or layer-2 solutions the Alpha products are built on. This is by design, as we continue to grow the multi-chain, Alpha ecosystem.
Depending on how many ALPHA tokens are staked, you will be in 1 of the 5 Alpha Tiers. The more you stake, the higher the Alpha Tier you will be in and the more unique features you can unlock on Alpha products when using the products as an ALPHA staker.
This is one of the very first times that tokenomics is directly integrated with the usage of the core underlying protocols. To learn more about Alpha Tokenomics, see here.
📢 Shoutout to the media below by Alpha Wolf community members:
2) Alpha Homora V2
The relaunch will include many new functionalities for all lenders and leveraged yield farmers/liquidity providers. These features include:
- More leveraged pools
- More assets leveraged yield farmers can borrow
- Use LP token as collateral to leveraged yield farm, or Bring-Your-Own-LP (BYOLP)
- More assets lenders can lend in addition to ETH and stablecoins
These vital additions will significantly boost:
👉 adoption and growth for the Alpha Homora V2 platform
👉 expansion of the Alpha Homora V2 protocol through various partners in the pipeline
👉 accrual of more protocol fees for ALPHA stakers.
To learn more about using LP tokens as collateral on Alpha Homora V2, see here. To learn how we unlock capital efficiency while maintaining security through a new concept of collateral and borrowing credits, see here.
📢 Shoutout to the media below by Alpha Wolf community member: https://twitter.com/ZeMariaMacedo/status/1387442930932228099?s=20
3) Partners & Integrations
Alpha Homora is no longer a standalone product but has become an ecosystem of its own with many partners and integrations. Currently, there are more than 22+ partners and integrations.
Existing partners and integrations include Curve, Uniswap, SushiSwap, Balancer, C.R.E.A.M., PancakeSwap, Aave, Compound, ARCx, Nexus Mutual, Saffron Finance, Rari Capital, Enzyme Finance, Stacker Ventures, Debank, Zapper, Zerion, and APY.vision. For more details, please see our documentation here.
In April, we also welcome new partners and integrations to the Alpha Homora ecosystem, including Ethereum Push Notification Service (EPNS) to build a notification system for Alpha Homora users, Immunefi and Armor to create an active bug bounty program, and Yieldwatch to showcase data and analytics on Alpha Homora vBSC.
4) Alpha Grants Program
Recently, we also launched Alpha Grants Program to lay the foundation that will allow us to build and incubate many DeFi products under the umbrella of Alpha Finance Lab in a scalable and secure way.
The first Alpha grant is now available, giving grant to Alpha Builders to help build Alpha Dashboard. For more details of the grant scope and how to apply, see here.
Separately, we are also giving 5% of the grant amount in ALPHA tokens to Alpha Thinkers, or the person/team proposing the grant, when the proposed grant is approved and the development is complete. For more details on how to propose a new grant, see here.
5) Q2 Outlook
Over the past month, we have been working on laying the foundation that will power the next growth stage at Alpha starting this Q2.
Alpha Finance Lab is a DeFi Lab, building and incubating many innovative building blocks that capture unaddressed demand in key areas of the financial system.
This foundation will allow us to scale Alpha to the next level, incubate many DeFi products under the umbrella of Alpha Finance Lab, and move us closer towards decentralizing the project.
About Alpha Finance Lab
Alpha Finance Lab is a DeFi Lab and on a mission to build an ecosystem of DeFi products (the Alpha ecosystem), consisting of innovative building blocks that capture unaddressed demand in key pillars of the financial system. These building blocks will interoperate, creating the Alpha ecosystem that will be an innovative and more capital efficient way to banking in DeFi.
Alpha Homora is Alpha Finance Lab’s first product and DeFi’s first leveraged yield farming product that captures the market gap in lending, one of the key pillars of the financial system.