Alpha Homora to Launch on Binance Smart Chain
- Alpha Homora’s launch on Binance Smart Chain is part of its plan to embrace a “multi-chain future.”
- The blockchain-agnostic protocol already runs on Ethereum, but is considering other networks and Layer2 solutions as well.
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According to the official announcement, the company’s yield farming product will enable users to take leveraged positions on BSC’s PancakeSwap. While a concrete schedule is yet to be announced, Alpha Finance Lab said its V1 protocol will launch on Binance Smart Chain (BSC) in the coming weeks.
The company has set out to capture the growing BSC ecosystem, as it identified a high demand from BSC users to take leveraged yield farming positions. Alpha Finance currently runs on Ethereum, whose mounting gas fees have been pushing protocols to migrate to more efficient networks.
Binance Smart Chain isn’t the only blockchain Alpha Homora is considering. The company said the Alpha Finance Lab will continue to evaluate various market gaps on other blockchains aside from Ethereum and BSC. Upcoming Alpha products such as AlphaX might also launch on Layer2 solutions.
Alpha Homora currently has $792.7 in total value locked (TVL) and has launched the second version of its protocol earlier in February. V2 supports leveraged yield farming of Curve and Balancer pools, alongside Uniswap and SushiSwap pools.
- Decentralized finance (DeFi) has become one of the hottest trends in the crypto world as it’s more transparent and decentralized than traditional finance.
- Here are our top picks of DeFi projects that have a good potential growth, and some of the protocols that did not made the list, such as RING Financial.
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- 2022 is on the verge of becoming the largest year for crypto crime ever, with close to $3 billion being stolen so far.
- The majority of the hackers focused on cross-chain bridges and decentralized finance apps.
- Investment opportunities in defi are innumerous, but finding the best hasn’t been an easy task thus far.
- Yield Samurai is a decentralized finance data aggregator that helps investors find the highest-yielding pools in a few clicks.