Alpha Begins its “Multi-Chain Ecosystem” with the Launch on Binance Smart Chain (BSC)
Alpha Homora is now also running on Binance Smart Chain (BSC), besides the second largest network Ethereum.
“The beginning of a multi-chain Alpha ecosystem and the value accrual mechanism across multiple chains starts now,” stated the Alpha team.
This launch on BSC happened today, and in a matter of three hours, the DeFi protocol had about $117.5 million in total value locked (TVL).
Already, Alpha Homora is among the top ten projects on BSC in terms of TVL. Another lending project, Venus, is the leading one with $5.11 billion in TVL, followed by popular PanakeSwap with $3.65 billion, as per BSCProject.
Alpha’s BSC launch means users can now lend BNB, yield farms on the AMM PancakeSwap with leverage, and receive liquidity mining incentives for both activities.
Leveraged pools that went live with the launch are BNB-ALPHA (2.5x), BNB-CAKE (2.5x), BNB-BUSD (3.0x), BNB-BTCB (3.0x), BNB-ETH (3.0x), and BNB-USDT (3.0x).
Alpha Finance Lab is an ecosystem of cross-chain DeFi products backed by The Spartan Group, Multicoin Capital, DeFiance Capital, and Delphi Ventures.
Alpha Homora is its first product which is a leveraged yield farming and leveraged liquidity providing protocol. The lending DeFi protocol has more than $900 million in TVL on Ethereum.
The token ALPHA is a $465 million asset trading at $1.83, up 763% YTD.