In today’s article, we’ll learn about a project that has expanded its price more than 100 times since being listed on Binance Launchpad and has piqued the community’s interest recently, Alpha Finance.
So, what exactly is this project? How does it function? What is the purpose of Alpha’s token? This article will provide you with all of the information before making an investing decision. Now let’s get started.
What is Alpha Finance Lab?
Alpha Finance Lab is a cross-chain DeFi platform that allows users to use the service on a variety of networks, including Binance Smart Chain and Ethereum. Today, the project offers popular financial services in DeFi, with loan servicing as the business’s first product.
In addition, Alpha Finance also provides various services such as Alpha Launchpad and Alpha Metaverse to fulfill the needs of users as the DeFi world is becoming more diverse.
The project’s major goal is to provide users with a platform that includes all DeFi-related services in the most user-friendly and innovative way possible.
How does Alpha Finance Lab work?
As explained previously, Alpha’s ecosystem includes DeFi-related products with the main goal of maximizing profits for users, which includes the following major components:
- Alpha Tokenomics.
- Alpha Launchpad.
- Alpha Homora.
- Alpha Metaverse.
- Alpha X.
Each Alpha product will be examined in detail, as follows:
Token holders can stake their ALPHA tokens on the platform. Stakers in ALPHA will receive a portion of the protocol fees collected from Alpha Universe, as well as tokens from the incubated initiatives of the Alpha Launchpad.
Currently, there are more than 220 million Alpha being staked by users with at around 3.6% APY.
Alpha Homora can be considered the main product of Alpha Finance when the project is established. Alpha Homora is a lending protocol that enables users to benefit from lending or mortgaging assets or from using leverage Yield Farming.
Currently, Alpha Homora has 2 versions:
- Homora v1 on Binance Smart Chain and Ethereum.
- Homora v2 recently being live on Ethereum.
Instead of having to develop both Lending and Yield-farming arrays on Homora v1, the project launched Alpha Homora v2 separately to boost Yield-farming in the ecosystem. However, Alpha Homora is reliant on market lending projects like Compound or Aave for liquidity, while the v2 version is only available on Ethereum for now.
In general, Homora’s operation is similar to other projects in the same field. However, as the project noted, cross-chain interaction with other networks would provide Alpha Homora an advantage as the number of blockchains grows.
Because of the market’s increasing demand for NFT and Metaverse and to fulfill the demands of users in this category, Alpha Finance Lab launched the following features in September 2021:
- Alpha Buy Wall: A product that allows users to use smart contracts to bid on any NFT product or collection. According to the project’s details, buyers will be able to access liquidity instantly and without slippage. Alpha Buy Wall now supports the following NFT collections: Loot, Bloot, Pudgy Penguin, 0N1 Force, Cool Cats, and Mutant Ape Yacht Club.
- Probably Rare GEMs: This is a Proof-of-Work feature used to mine distributed GEMs for users, similar to how Bitcoin works for miners. Anyone can mine GEMs and sell them for a profit. After each minting, the difficulty of minting GEM will grow dramatically, pushing users to spend more time if they wish to discover rare GEMs.
The Alpha Launchpad project seeks to motivate developers to develop new projects in Alpha Universe, as well as to provide opportunities for investors.
By staking ALPHA tokens, users can receive protocol fees and participate in the listing of new projects.
Recently, Beta Finance as one of the first listings on Alpha Launchpad has attracted many users with a total of 50M Beta available for sale. Users were required to stake ALPHA from Alpha Tokenomics to participate in the IDO.
AlphaX is now in the testnet stage and will be launched soon by Alpha Finance Lab. This is a feature that allows users to trade derivatives effectively by combining a perpetual swap and a leverage token.
What is ALPHA token?
Alpha Finance Lab’s native token, ALPHA, is utilized for the following purposes:
- Liquidity Mining: Users will be able to earn ALPHA tokens by providing liquidity in the Alpha Lending platform (Lending and Borrowing).
- Staking: By staking ALPHA Token, users will be able to receive a portion of the platform’s revenue.
- Alpha Launchpad: Users can also stake ALPHA tokens to receive an allocation of IDO listings on the Launchpad.
- Governance Voting: ALPHA Token holders can vote on governance ideas in the Alpha Lending Platform.
Detailed information about ALPHA token
ALPHA Token Metrics
- Token Name: ALPHA Token.
- Ticker: ALPHA.
- Blockchain: Binance Smart Chain & Ethereum.
- Contract: 0xa1faa113cbe53436df28ff0aee54275c13b40975
- Token type: Utility, Governance.
- Token Standard: BEP-20 & ERC-20.
- Total Supply: 1,000,000,000 ALPHA.
- Circulating Supply: 406,330,126 ALPHA.
ALPHA Token Allocation
- Ecosystem: 36.67%.
- Liquidity Mining: 20%.
- Team & Advisors: 15%.
- Private Sale: 13.33%.
- Binance Launchpad Sale: 10%.
- Binance Launchpool: 5%.
ALPHA Token Sale & Release Schedule
How to mine ALPHA
Users can stake ALPHA tokens on Alpha Tokenomics with 3.6% APY.
How to buy ALPHA
Coin98 Exchange is a decentralized exchange (DEX), a Multi-chain liquidity aggregator that offers users a wide variety of DeFi services (swap, stake, lend, borrow,…) through intuitive and simple interfaces.
You can use Coin98 Exchange to swap other tokens for the ALPHA token by following these simple steps on: https://exchange.coin98.com/
Step 1: Connect Coin98 Extension Wallet.
Step 2: Select Pancakeswap.
Step 3: Choose coins/tokens for trading:
- Search ALPHA
- If the result does not come up, you can paste the contract of ALPHA into the search box: 0xa1faa113cbe53436df28ff0aee54275c13b40975
Step 4: Adjust the amount you want to swap.
Step 5: Adjust the gas fee, then click Approve.
How to store ALPHA
You can store ALPHA token on Coin98 Wallet with these steps:
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search ALPHA Token.
Step 3: Click on the correct result, copy the wallet address and send ALPHA to this address.
Roadmaps and Updates
Due to the growing demand for derivatives trading in the market, the project will focus on developing and perfecting AlphaX in the near future.
In addition, the project will update new items in the near future to further develop its Alpha Universe.
Team, Investors, and Partners
Tascha – Project Lead: Tascha earned her BA in Economics from UC Berkeley and began her career in Investment Banking at Jefferies in San Francisco and London. She was the Head of Strategy at Band Protocol before launching Alpha Finance Lab.
Nipun – Lead Blockchain Engineer: Nipun graduated from MIT with a master’s degree in Electrical Engineering and Computer Science. He has experience working in fields like stock, trade arbitrages and machine learning.
The project is invested by big investors in the market such as: Spartan Group, Multicoin Capital, Defiance Capital & Delphi Ventures.
Is ALPHA a good investment?
This article has provided some of the main ideas related to the ALPHA token and its implications. There is no financial advice in this post because it is intended to give you a thorough understanding of the project
Still, it is important to note that there are a few key points that investors should take into account before making investment decisions:
- Alpha Finance is a financial service ecosystem for users in various blockchains. With the growing demand for numerous blockchains, Alpha’s cross-chain approach will become extremely beneficial in the near future.
- Alpha Finance’s solutions such as the launchpad provide users with a variety of options as well as attractive rewards. With newly launched features like Alpha Buy Wall and Probably Find GEM, the project is getting close to the market and listening to customer demands. This has a significant benefit in terms of retaining customers on its platform as the market evolves on a daily basis.
I hope you have gained all of the important information about ALPHA including its features and highlights throughout this topic.
If you have any questions about ALPHA or want to know more about ALPHA, please feel free to leave a comment below and join Coin98 Community for further discussions about Crypto.
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