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.