We’re pleased to announce that Alpha Homora V2 has been audited by OpenZeppelin! As security and transparency are two of the cornerstones of all Alpha products, we will be releasing the full audit report to our community in the coming weeks.
This marks another step taken towards the relaunch of Alpha Homora V2, which will see the re-enabling of borrowing/opening new leveraged positions, additional leveraged pools and lending assets added, and new special features.
Alpha Homora V2’s most recent audit by OpenZeppelin was conducted on top of previous audits done by Quantstamp and Peckshield. Multiple audits are one key component in our multi-facet security model. Alpha is committed to not only securing our ecosystem, but setting a new standard for building robust DeFi protocols: and our multi-faceted approach to security is the key.
Security Model at Alpha Finance Lab
Alpha Finance Lab’s security model includes:
- Multiple audits from industry leading firms
- Continuous external peer reviews
- Continuous internal reviews
- Constantly utilizing internal monitoring tools
- Active bug bounty program
Alongside audits, internal reviews and external reviews by top security researchers are being conducted on Alpha’s entire ecosystem.
Additionally, internal monitoring tools are utilized across Alpha Homora V1 and V2 on Ethereum and V1 on Binance Smart Chain (BSC). These tools help us maintain a high security standard and experience for Alpha Homora’s users, and will similarly aid all future Alpha products as we expand our product suite. To round off our security model, we’ll be kicking-off an active bug bounty program - which is being finalized as we speak.
As the DeFi market just surpassed $100 billion in total value locked on Ethereum and BSC, security of the entire ecosystem has never been more crucial. Alpha will continue to view security in an innovative fashion and pave the way for other DeFi protocols through our multifaceted lens.
By engaging in multiple external audits, continuous internal and external peer reviews, and implementing internal monitoring tools and bug bounty programs, Alpha is staying committed to placing security at the forefront of our growing ecosystem. OpenZeppelin’s most recent audit of Alpha Homora V2 is just one example of the importance we place in security across all our products.
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.