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- Project Name: Alpha Homora v2 on Terra
- Team Name: Alpha Finance Lab
- Payment Address: terra1e2e73c5gm00uk39hzgf46ajvedmwm59w6y5xem
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Alpha Finance Lab came up with the leverage yield farming concept and launched Alpha Homora as the first leverage yield farming product, allowing users to take leverage positions when yield farm and provide liquidity to gain higher return for the same initial capital amount.
Alpha Homora V2 is the first product to use LP token as collateral and the first product to implement and use a concept of collateral credit and borrow credit (different from LTV content used in other lending protocols).
- Alpha Homora v2 Terra will be the first and only leverage yield farming platform on Terra.
- Yield farmers and liquidity providers can get even higher 1) farming APY and 2) trading fees APY from taking on leveraged yield farming positions.
- Lenders can lend many assets, e.g. UST, MIR, ANC, mAssets, and more, to earn high lending interest rates from leveraged yield farmers/liquidity providers borrowing these assets to open leveraged positions
- Liquidators can earn some bounty by liquidating positions that are at 100% debt ratio.
An indication of how your project relates to / integrates into Terra.
Alpha Finance Lab developed Alpha Homora v2 on Terra, the first leverage yield farming platform with auto-compound features. Users will be able to gain higher yields through leverage while being able to maintain lower risks. The platform offers various strategies for Terra-native assets like UST, MIR, ANC, mAssets. On top of that, Alpha Homora v2 Terra would be integrated with Mars Protocol to facilitate assets available for borrowing.
An indication of why your team is interested in creating this project.
- Alpha Finance Lab has seen great success and high adoption rate from Alpha Homora and Alpha Homora v2 launches on other chains (Ethereum, Binance Smart Chain, and Avalanche) and believe that there is also market demand for leverage yield farming on Terra chain.
- Terra has a very strong community and the spirit to strengthen its ecosystem. Alpha Homora v2 Terra will become a new use case for UST as well as Terra native assets with great potential to expand and integrate with other protocols in the future.
We’re developing Alpha Homora V2 on Terra so the concept and core functionalities are the same as on ETH and AVAX which you can look for the example in the following urls :
Where and how does your project fit into the ecosystem?
Alpha Homora v2 will bring leverage yield farming to DeFi space on Terra blockchain network. This will help answer undressed demand for higher yields from both asset holders (who then can lend) and yield farmers/ liquidity providers. Moreover, with Alpha Finance Lab’s know-how from product development and previous success, the team is certain that the product would fit into Terra with high user adoption.
Who is your target audience (parachain/dapp/wallet/UI developers, designers, your own user base, some dapp's userbase, yourself)?
- DeFi users (both Alpha Homora users from other chain and DeFi users in Terra)
- Other protocols interest in partnership because we care not only about end users but also other builders
What need(s) does your project meet? Every product from Alpha Finance Lab aims to maximize returns for users while offering a synergistic solution to minimize downside exposure, and Alpha Homora v2 on Terra is no exception. Using LP token as collateral and implementing a concept of collateral credit and borrow credit, not LTV, would make the product more secure.
Are there any other projects similar to yours in the Terra ecosystem? No, but there are a few other leverage yield farming platforms available on different networks like Alpaca Finance on BSC, Tulip Protocol on Solana etc. However, unlike both protocols mentioned, Alpha Finance Lab is the only one offering cross-chain DeFi products.
- Name of team leader
- Tascha Punyaneramitdee
- Names of team members
- Nipun Pitimanaaree
- Arin Trongsantipong
- Contact Name:
- Tascha Punyaneramitdee
- Nipun Pitimanaaree
- Arin Trongsantipong
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Contact Email:
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Website: https://alphafinance.io
- Registered Address: Portcullis Chambers, 4th Floor, Ellen Skelton Building, 3076 Sir Francis Drake Highway Road Town, Tortola VG1110, British Virgin Islands
- Registered Legal Entity: Alpha Finance Lab Limited
Alpha Finance Team: Since the launch of Alpha Homora, the first leverage yield farming platform, in October 2020, Alpha Finance Team aims to bring a superior value proposition compared to existing solutions in the market and never ceases to stop improving.
Despite the success of Alpha Homora, the team analyzed feedback received and later on launched the improved version, Alpha Homora v2 (now available on Ethereum and Avalanche) with unique functionalities to elevate user experience. To further establish Alpha Homora v2 as a go-to leverage yield farming/ liquidity providing protocol, the team has expanded the current product to cover various chains including Ethereum, BSC and Avalanche achieving TVL of over $1 billion dollar.
As the space has evolved, the team saw the opportunity and potential in derivatives and came up with the second product, AlphaX, an on-chain derivative trading platform. Furthermore, with goals to encourage other builders to jointly drive the blockchain space, Alpha Finance Lab launched Alpha Launchpad, an incubator program targeting to bring accrual value to Alpha Stakers.
- https://github.com/AlphaFinanceLab
- https://github.com/spectrumprotocol
- https://github.com/spectrumprotocol/alpha-contracts
- https://github.com/spectrumprotocol/alpha-frontend
Please also provide the GitHub accounts of all team members. If they contain no activity, references to projects hosted elsewhere or live are also fine.
- https://github.com/n1punp
- https://github.com/arintrongs
- https://github.com/spectrum-lumiere
- https://github.com/hikari042
- https://www.linkedin.com/in/tascha-panpan
- https://www.linkedin.com/in/nipunpitimanaaree
- https://www.linkedin.com/in/arintrongs
We're at the last stage of the development, the codes in the following repos include both contract and frontend parts.
- https://github.com/spectrumprotocol/alpha-contracts
- https://github.com/spectrumprotocol/alpha-frontend
Alpha Finance Lab developed contract, back-end and front-end components for Alpha Homora v2 on Terra.
Estimated Duration: 3 months (Nov 2021-Jan 2022) FTE : 9 Total Cost: $20,000 (Development Cost)
After development, Alpha will send the contract to Mars for a review and submit the project for contract audit. Right now, the team is in contact with Oak Security and Halborn.
Estimated Duration: 1.5 month FTE: 3 Costs: $180,000 (Audit Cost)
FTE: On-going monitor, maintenance and growth strategies from Alpha Finance Team
At launch, Alpha Homora v2 Terra will be integrated with Mars Protocol by applying for asset credit lines. This would help enable more available assets to borrow for opening positions. Mars protocol plans to initially launch with UST and Luna lending options, but would later expand to offer more assets. At launch, the team plans to drive a marketing launch campaign by co-working with Mars Protocol.
- Offer in-demand strategies
- Offer high yield strategies for borrowers (i.e. leverage yield farmers) and high lending interest rates for lenders
- Bring in Alpha Homora Users/ community from other chains to Terra blockchain network
- Make Alpha Homora v2 Terra the go-to platform for leverage yield farming/ liquidity providing on Terra
- Become a platform where builders and other Terra protocols would be inclined to integrate with
- Become strong fundamental for Terra growing DeFi users/community