The September 7th Twitter Spaces session was an amazing opportunity for us to learn more about our Alpha Wolves community and what is still clouded. For some of you who may have missed that session, read this summary article to catch up with the rest!
In order to expand the Alpha Homora V2 to other chains and layer two solutions, the Alpha Team prioritizes the most efficient and resource-intensive way as much as possible.
Hence with the proper infrastructure of Alpha Homora V2 already built out, we are glad to announce that the Alpha Homora V2 is ready to expand to multiple chains and layer two solutions.
We are on the brink of the launch of AlphaX. The Alpha Team is close to completing the frontend development, in which they will deploy a private testnet for fine-tuning the product before launching public testnet.
AlphaX will not be like any products that exist in the market. It is not an exchange but instead allows users to long or short a position by creating a new set of primitive tokens. More on that during the AlphaX deep dive week.
Our first incubated product from the Alpha Launchpad has gained enormous traction from the community leading to more than 200 million TVL on the platform. Nevertheless, our Alpha Launchpad mentorship does not stop there since the Alpha Team continues to provide consultation to the Beta team on the ‘next step’ to grow the platform even more.
This shows how much we pay attention to our incubated projects bringing them to their fullest potential. There are 5 more projects that we are still incubating, in which the second incubated project will be launched soon!
Alpha Expanding to Metaverse and NFT Landscape
By expanding into the Metaverse, Alpha Finance Lab is extending beyond DeFi by building upon the shared space and value of the community.
Moreover, expanding into this landscape gives Alpha an advantage, as we can bring lessons we’ve learnt in DeFi over to building products in new areas as well as integrate our products in DeFi with those in NFTs and the Metaverse. For example, the Alpha Buy Wall can be considered as an NFT product or a DeFi product at the same time. This is because when users bid for the NFT collection’s price floor, this allows us to use that price as a reference onto the DeFi realm, such as lending, or liquidity providing.
The value that the Alpha Buy Wall gives to the Alpha Wolves community can seen from a short and long-term perspective
- Short term plans include giving users the ability to transfer ETH locked from bidding to Alpha Homora V2, so bidders can earn yields while bidding for NFTs.
- Innovating on a liquidity mining framework for Alpha Buy Wall. This framework can set a new standard for liquidity mining for NFTs.
- The mid-term tackles the part that Alpha Finance Lab can collect fees from each transaction similar to Open Sea, which can be turned on once the product is bootstrapped.
- The long term plays the role in driving the use cases of the floor price on the Alpha Buy Wall. For instance, we can have perpetual swap product on NFTs.
- With all this, the NFT landscape is still very young, and we are early in innovating and driving the future of NFTs and the Metaverse.
This project is a revolutionary product for the gaming industry. This is because, in traditional games, the developers would create a complete road map that invites the community to play along with what they have built. However, Loot, Bloot, work from the opposite direction. These products give the community “fundamental items”, and with the shared space, they can collaborate to build something valuable. For instance bootstrapping games that work on top of these valued items, which opens up a new area of how the gaming and entertainment industry can evolve to become. Hence the Alpha Team wanted to expand on the fundamental items by giving them boosting power of the Provably Rare Gems.
These gems in some sense can be proven on their rarity, which is “totally new to our world, as normally, in typical MMORPG games, you can't prove an asset’s rarity, you just have to believe that it is rare”, said Tascha. This is a prime example of how we can expand a whole use case of what blockchain can do.
Alpha Finance Lab is also opening up Alpha Grants, The Excavator Grant and The Stonemason Grant, for the Provably Rare Gems projects. This is for anyone in the community to suggest ideas on the use case for these Gems or build software that can help mine these gems.
Q & A Session
Question 1: Can someone manipulate the Alpha Buy Wall floor price?
Answer: We will make sure that these prices cannot be manipulated by -
- Taking a TWAP of Alpha Buy Wall to get price floor from multiple places and take the average of those prices
- As this is not a new problem that DeFi haven't seen before, hence we can apply what we learned from DeFi to the Alpha Buy Wall to ensure the prices cannot be manipulated
Question 2: How are you going to increase the traction of the Alpha Buy Wall?
Answer: Since people will have to pay gas fee to bid on the Alpha Buy Wall, there must be some incentive for users to do this -
- We can come out with a generic liquidity mining framework that will work for NFT similar to our DeFi pool 2 with Yield Farming
- At the very high level, this can also allow NFT creator to determine the parameters, like for instance every one thousand of bids will get NFT from that collection
- By having incentives for people to place bids it leads to the end goal of the NFT creators as well, since it will create a healthy NFT market for that artist’s collection
- Lastly, these incentivizing method will also benefit small to medium NFT creator artists to easily grow that community a lot faster than today’s method
- We are coming up with these framework right now, so once it is ready it will be the Alpha Buy Wall’s next step
Question 3: What will be the future of Loot and Bloot?
Answer: These are very interesting projects and we are watching them and the community around it grow. At the same time we also support their community by adding them on the Alpha Buy Wall and integrate them with what we are doing in our future projects.
Question 4: What will be the price of ALPHA in the future?
Answer: Definitely cannot give guidance on the ALPHA price, but I wish I know as well.
Question 5: How are you thinking of growing in the oracle space given that you have the Alpha Oracle Aggregator and NFT price floor from Alpha Buy Wall?
Answer: Alpha Finance Lab will not monetize from these oracles, as we want to focus on building applications in multiple segments such as DeFi, NFTs, and Metaverse. However, we will open source the Alpha Oracle Aggregator, so other projects can adopt it since it is very scalable and can save a lot of time for new engineers forming a team.
Question 6: What will be the main revenue generating model for Alpha Finance Lab? Is it AlphaX?
Answer: AlphaX will be one of the main revenue generators, as it works in the derivatives and the perpetual swaps areas, alongside Alpha Homora in the DeFi segment.
- Try to expand Alpha X into multiple chains
- Drive use cases on primitive tokens generated by the Alpha X
On the other hand, the Metaverse landscape that we are experimenting with our products is less about generating revenue from capturing fees, but instead it allows us to lead in the new area that blockchain is entering.
- Nobody knows what the NFT market will be like in a few years or how the Metaverse will look like.
- Nevertheless, as long as we have an output in this realm we can definitely move as fast as the industry does.
- When there is enough opportunity for us to capture fees from this space, that will hugely benefit the ALPHA stakes and the Alpha Wolves community.
Question 7: Will Alpha Homora V2 enter a new blockchain?
Answer: Alpha Homora V2 for the past few months has been upgrading the whole infrastructure from the liquidity mining to the Graph issue that we’ve been having. So that when we expand to other chains and layer two solutions, we can do them effectively and efficiently.
- The first three main platforms we are trying to expand AHV2 to are Binance Smart Chain and Polygon.
Question 8: Will Alpha Homora V2 enter the Cardano blockchain?
Answer: Not at the moment. When we look for a chain that we want to expand into, we take into account a couple of factors -
- Whether there is enough farming activity or at least liquidity providing activity going on.
- If that chain does not contain a large enough pool, the gain from going into that chain vs. the technical debt for maintaining the product will not be beneficial for us.
- The security of that chain
- The Developer tools available on chains
So from these reasons combined we do not plan to go on Cardano Chain.
Question 9: Will Alpha Homora V2 enter the Solana blockchain?
Answer: Solana is a tricky decision for us since it is not EVM compatible.
- But there are other ways for us to expand, maybe through Alpha Launchpad where we can work with another project to launch Alpha Homora non-EVM version on the Solana chain for instance.
The Twitter Spaces is one of many communication paths we provide to the community. It is a two sided tool for us to learn more about each other. The Alpha Wolves community can expect a Bi-Weekly Twitter Spaces every month. If you want to suggest any topics we talk about on Spaces, suggest them here.
About Alpha Finance Lab
Alpha Finance Lab is a blockchain Lab, and on a mission to build Alpha Universe. Alpha Universe includes the Alpha DeFi ecosystem (Alpha Homora, AlphaX), Alpha Metaverse (Alpha Buy Wall, Provably Rare Gems), and Alpha Launchpad incubator program.