Alpha Finance Lab January 2021 Summary
It’s been a busy January and first few weeks of February at Alpha Finance Lab. Though January was a few weeks ago, we would like to still give a full recap of this eventful month along with a sneak peak of what we are working on and what is coming up in the Alpha ecosystem.
January Summary
In January and the first few weeks of February, we’ve been working on a number of things in addition to Alpha Homora V2. The summary below sheds more light on those items.
Alpha Homora
1️⃣ Alpha Homora V2 was announced and launched
2️⃣ Total value locked on Alpha Homora V1 + V2 has grown from $188 Million on Jan 1st, 2021 to more than $1 Billion today
3️⃣ The migration process from Alpha Homora V1 to Alpha Homora V2 has started
AlphaX
4️⃣ AlphaX private testnet round 2 was launched
ALPHA Tokenomics
5️⃣ Designing and implementing ALPHA tokenomics
Alpha Finance Lab project
6️⃣ Various media coverage and AMA
7️⃣ Welcoming Delphi Digital as our investor
Partners
8️⃣ Welcoming more partners to the Alpha ecosystem
Before we dive into the details of the items above, let us share more on what we are working on and what is coming up.
Looking Forward
Alpha Homora V2: We look forward to adding more leveraged pools, lending assets, and partners on Alpha Homora V2. Alpha Homora V2 will continue to establish itself as the go-to leveraged yield farming and lending protocol in DeFi.
AlphaX: Based on the data we have received from the 2 private testnet rounds, we are evaluating and adjusting parameters on AlphaX to achieve maximum security, scalability, and user friendliness. Additionally, we are working towards launching the public testnet of AlphaX.
ALPHA tokenomics: The design of ALPHA tokenomics has been finalized! Currently, Alpha team is implementing the technical details. We look forward to sharing more details with our community about the tokenomics structure we have come up with. 🔥
Deeper Dive into January Summary
Alpha Homora
1️⃣ Alpha Homora V2 was announced and launched
With Alpha Homora V2, yield farmers can
- open leveraged yield farming positions on liquidity pools that are on Curve, Balancer, SushiSwap, and Uniswap
- take leverage on many assets including ETH, stablecoins, and other assets
- open up to 9x leveraged yield farming positions for selected pools
- easily manage open positions
On the other hand, lenders will be able to lend many assets that are supported on Alpha Homora V2 and earn high yields. For instance, lenders can now lend ETH, USDT, USDC, and DAI. Going forward, more assets will be supported on the lending side, allowing lenders to lend and earn high yields on other assets, such as YFI, SNX, etc.
Since Alpha Homora V2 was launched, we had been collecting and iterating on the feedback from our users and community members. Recently, we have launched new features and functionalities to address the feedback received.
2️⃣ Total value locked on Alpha Homora V1 + V2 has reached more than $1 billion
The total value locked on Alpha Homora V1 + V2 has grown significantly from $188 Million on January 1st, 2021 to $1.10 Billion today.
While Alpha Homora continues to generate high yields to our users, we make sure to bring this benefit to our partners. For instance, Alpha Homora V2 is now generating high yields on ETH for Rari Capital’s ETH pool. This means the majority of the ETH lent on Rari Capital is now lending on Alpha Homora V2.
3️⃣ The migration process from Alpha Homora V1 to V2 has started
To learn more about migrating yield farming/liquidity providing positions, please refer to here.
Lenders can refer to this document on guide to migrate ibETH to ibETHv2.
Similarly, the migration process for ibETH/ALPHA pool on Uniswap to ibETHv2/ALPHA on SushiSwap has also started. Liquidity providers can learn how to migrate here.
Currently, there are no additional incentives on the ibETH/ALPHA pool on Uniswap. ibETHv2/ALPHA pool on SushiSwap now receives SUSHI rewards and will be receiving additional ALPHA rewards later this month in February.
AlphaX
4️⃣ AlphaX private testnet round 2 was launched
With private testnet round 2, community members were able to take a more active role in helping to test AlphaX and working closely with the core Alpha development team.
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)
ALPHA Tokenomics
5️⃣ Designing and implementing ALPHA tokenomics
As Alpha Finance continues to grow, we make sure that ALPHA tokens will continue to be the key component of this growing Alpha ecosystem. Thus, we have been actively designing and implementing a unique structure for ALPHA tokenomics. We are more than excited to continue sharing more details on the structure we have come up with.
Alpha Finance Lab project
6️⃣ Various media coverage and AMA
During this time, Alpha Finance Lab and Alpha products have been covered on various media coverage and AMA (Ask Me Anything) sessions. Below is an aggregate of the coverage since beginning of January 2021.
- BlockBeats AMA
- Alpha Homora V2 live demo with DeFi Dad
- Alpha Homora V2 live demo with DeFi Slate
- DeFi Pulse Alpha Homora V2 coverage
- DeFi Prime Alpha Homora V2 written interview
- Bankless Alpha Homora V2 written interview
- Alpha Homora V2 AMA in Alpha Finance Lab discord
- Alpha Homora V2 AMA for Index Coop community
- Alpha Homora V2 AMA for Yearn Finance community
- Institutional Crypto AMA by Spencer Noon
- Alpha Finance Lab AMA with Bankless
- Notable coverage from community members include Jack Purdy, DeFi God, Keyahayek, and DappRadar.
7️⃣ Welcoming Delphi Digital as our investor
Delphi Digital is a research-driven investor with a long-term perspective. Delphi Digital has invested in various notable projects including Axie Infinity, DeBank, Nexus Mutual, Terra, Thorchain, SushiSwap, Uniswap, and Zapper.
Partners
8️⃣ Welcoming more partners to the Alpha ecosystem
While we continue to grow Alpha project and products, we have also been actively working with more partners to bring growth to the whole DeFi landscape. With that said, we’d like to give a warm welcome to all the partners below to the Alpha ecosystem.
ArchX
CREAM
- Increasing the collateral factor of ALPHA to 50% on CREAM (BSC)
- Proposal to add ALPHA on CREAM (Ethereum)
DeBank
Rari Capital
Thorchain
Zapper
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.
We are moving at a rapid pace, so we encourage everyone to follow us on Twitter, join our Telegram / Discord for the latest updates, or read more about us on Alpha Finance Lab document and blog!
