This Ethereum protocol could deliver high yields

This Ethereum protocol could deliver high yields

In the midst of the recent days’ downtrend, there are still open opportunities for profits in the Ethereum ecosystem. Alpha Finance Lab team has announced its tokenomics with staking rewards for its users and new products based on the Alpha Homora protocol:

ALPHA token holders will benefit from the growth of all Alpha products, which include Alpha Homora (vEthereum), Alpha Homora (vBSC), Alpha Homora (v2), AlphaX, and many more innovative Alpha products that we are working on. ALPHA token holders will be an integral part of the growing multi-chain, Alpha ecosystem.

APLHA token holders will be able to earn “ecosystem-wide rewards” based on the core Protocol. Users will also be able to receive rewards regardless of whether Alpha’s product operates on a Layer 1 or Layer 2 solution.

In the announcement, the Alpha Finance Labs team clarified that stakers will be able to unlock new features and earn more rewards with the different “tiers” they have enabled.

This is one of the very first times that tokenomics is directly integrated with the usage of the core underlying protocols.

Depending on the amount of ALPHA staked, the user will have access to new tiers that will give them access to earn fees from across the entire ecosystem.

ALPHA stakers will also serve as the backbone of the expanding Alpha ecosystem, as the funds staked will help secure the ecosystem in case additional insurance is needed.

Interoperability with Ethereum and Binance Smart Chain

One of the benefits of Alpha Homora protocol’s native token is its interoperability in two major DeFi ecosystems. ALPHA is based on Ethereum’s ERC-20 standard and the Binance Smart Chain’s BEP-20 standard.

Without altering the overall supply of the token, The Alpha Finance Lab team enabled this option in response to the high demand ALPHA has seen. The announcement stated the following:

To meet demand for ALPHA (ERC-20) withdrawal from Binance, we’ll deposit 100M ALPHA (ERC-20) and withdraw 100M ALPHA (BEP-20) through Binance – main bridge between 2 token standards.

In response to the announcements, ALPHA has regained upward momentum and is trading near its all-time high at $2.08. On the one-day chart, ALPHA shows gains of 11.8% with a positive performance of 25.3% in the last week. Capital Allocator for Defiance Capital, Wangarian said on Alpha Homora’s token:

When properly designed, tokens serve to benefit both token holders and the underlying protocol. ALPHA has one of the most promising tokenomics I’ve seen to date. Incentives from all stakeholders are aligned with clear value accrual to the ALPHA token.

ALPHA with bullish momentum in the 24-hour chart. Source: ALPHAUSDT Tradingview

DeFi Pulse data indicates that the Alpha Homora protocol has $679 million in Total Value Locked (TVL) with an all-time high of $1.25 billion in this metric. On the last day, the protocol has lost 19.8% of its TVL, a downtrend that has been ongoing for the last 3 months.

Published at Tue, 23 Mar 2021 19:56:12 +0000

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