Alpha Finance Lab is a new DeFi ecosystem offering cross-chain solutions, which means it leverages different blockchains to maximize profits in DeFi. The project was launched in September of this year, at a time when we were used to seeing new DeFi projects (many scams) associated with food names. Alpha differs greatly from these projects in that it has a clear and serious vision of what it wants to build and the audience it is targeting.
The main objective of Alpha Finance Lab (Alpha) is to create DeFi products that interact with each other in order to achieve the highest possible profit without taking too many risks. Given that the DeFi sector is already full of solid and well-established products, Alpha will focus its forces on products where there is a clear demand but also a strong market gap, thus avoiding direct competition with the giants within this niche, and at the same time bringing something new to the table.
Alpha Homora – The first Alpha product
Alpha Finance Lab’s first active and functioning product is called Alpha Homora and is a leveraged yield farming service and leveraged liquidity providing protocol that uses Ethereum’s blockchain to help customers earn interest on their Ether simply by providing liquidity or by using their ETH for farming. In the latter case, the risks are obviously greater but the gains are also much higher.
Alpha Homora was recently added to DeFi Pulse and already has some very impressive numbers, having surpassed 100 M in total value locked in just a few weeks.
Unlike other lending protocols, where users have to manage their lending assets themselves, Alpha Homora is able to manage everything automatically, while still offering the highest return in financial terms. Compared to Yield Farming pools, Alpha Homora differs in that it does not require 2 assets for farming but only one. Again, the process is automated and it only takes 3 clicks to put your funds to work. The same goes for those who want to provide liquidity: only 1 asset is required instead of the usual two that are required everywhere (example: ETH-USDT).
Alpha Homora, as already mentioned, is only one of the products developed by Alpha Finance Lab, so we may soon see the birth of many new features. The backers of the project are some of the biggest names in the crypto world and beyond: The Spartan Group, MultiCoin Capital and DeFiance Capital.
$ALPHA – the Alpha Governance Token
The Alpha token, according to CoinGecko’s data, has less than 200M tokens in circulation with a maximum supply of 1 billion. It was added to CoinGecko in November and hit an All Time Low of just $0.026 before soaring to record high prices (ATH) just one month later on December 3rd with a price of $0.319. At the moment, the value is around $0.19, with a market cap of $33.5 M or a fully diluted market cap of $192 M (including all the tokens of the MAX Supply). Even though Alpha was immediately added to Binance, at the moment the largest trading volumes can be found on the decentralized exchange Uniswap. Alpha tokens can also be traded on smaller platforms such as Bilaxy and BKex.
Alpha Finance Lab is led by Tascha Punyaneramitdee and Nipun Pitimanaaree. To find out more about the team there is a dedicated page with a short biography of both of them. To follow the project more closely here are the official links: