Alpha Homora is the second product developed by Alpha Finance Lab. It provides exposure to users to leverage their liquidity mining. Furthermore, Alpha Finance Lab has launched its native coin called ALPHA. Also, Alpha Homora has attracted users through its magical graphical user interface, which is based on the Harry Potter theme.
This article is designed to provide you an overview of Alpha Homora guide, Alpha Homora review/future predictions, and more. So, let’s dive in to learn all the aspects of Alpha Homora.
What Is Alpha Homora?
Alpha Homora is a decentralized application, which has been launched on Ethereum mainnet. Also, it is a protocol that offers yield farming and leveraged liquidity provisions.
Who Created Alpha Homora?
The creator of Alpha Homora is Tascha Punyaneramitdee.
Alpha Homora Investors
Alpha Homora investors include The Spartan Group, DeFiance Capital, Delphi Digital, and Multicoin Capital.
Alpha Homora Farm Pools
Alpha Homora users can participate in the farm pools. It includes Yield Farmers, liquidity providers, Bounty Hunters, Liquidators, and ETH Lenders.
What Is ALPHA Token?
ALPHA is the governance token for both Alpha Homora and the suite of DeFi applications. It is created by Alpha Finance Lab and powered by an ERC-20 ALPHA token. ALPHA token allows the holders to vote on the opened proposals, updates, and fund allocations on specific platforms.
ALPHA Token Binance Launchpad
The Binance Launchpad is the premier token launch platform. The platform is designed for entrepreneurs to get transformative crypto projects. Moreover, projects that are launched on Binance Launch pad become a reservoir for access to resources. It also provides greater support across the Binance ecosystem.
ALPHA Token Binance Launchpool
The Launchpool platform is Binance’s yield farming platform. It is the platform where you can farm DeFi based tokens including ALPHA tokens.
Pros And Cons Of Alpha Homora
Here’s the list of pros and cons of Alpha Homora. Let’s explore them.
Alpha Homora Benefits
- The merging of Alpha Homora and Alpha Finance ecosystem yield synergy for the ALPHA token. The ALPHA tokens work as part of the governance of the Alpha Homora protocol.
- Alpha Homora unlocks innovative ways to engage in yield farming. Furthermore, it offers advantages to yield farmers and the broader DeFi industry. Also, Alpha Homora reviews suggest that its user could earn higher APYs without relying on any intermediary.
- Alpha Homora offers smart contracts. It has been audited by Peckshield. Also, the main area of concern of investors includes smart contract audits. Therefore, it is a beneficial aspect for investors in Alpha Homora.
Alpha Homora Risks
- Liquidity providers and Yield farmers are exposed to impermanent loss of risk.
- If liquidators do not liquidate in the specified time then ETH Lenders are exposed to the risk of debts accrued by underwater position. However, it is important to note that it has not happened before.
- Audited code does not guarantee risk-free contracts. As bugs and potential vulnerabilities are mostly a part of any software. Therefore, you have to be cautious while dealing with any smart contract.
- Invest in funds only if you completely understand the risks of liquidation. However, yield farmers take the risk of liquidation. Alpha Homora reviews state that if the users stay above 60% solvency for IndexCoop and 80% solvency for Uniswap, they won’t get liquidated.
Alpha Homora Bank – Interest Bearing Ethereum (ibETH)
You could earn interest on ETH (ether) holdings in Alpha Homora. It could be implemented through an interest-bearing position. Furthermore, the user has to deposit ETH to Alpha Homora Bank and in return receive the ibETH token.
The ibETH tokens are the tradable assets. It allows users to continually gain interest and showcase user’s shares of the ETH in the Bank pool. Moreover, the utilization rate of the bank helps to determine the interest rate. It is directly proportional to each other. It means that if the interest rate is higher then demand for borrowing will also be higher.
Is Alpha Homora A Good Investment?
This January, ALPHA has boomed in its prices from USD 0.17 to USD 2.4. Furthermore, in the ongoing bull market, ALPHA could increase. However, if the prices fall, it would possibly be a trend reversal signal. Also, it is important to note that if you are looking to trade in ALPHA, you need to use a ‘stop-loss’ order.
How Does Alpha Homora Work?
Here we have mentioned how the key factors of Alpha Homora guide work. Let’s explore them:
Alpha Homora Liquidators
The Alpha Homora platform provides unique features. The special users of Alpha Homora are known as liquidators. They can liquidate positions at risk. However, if the user’s position falls below the liquidation ratio for the respective platform, liquidation occurs. Besides, the liquidators earn 5% of the position value as commission for liquidation positions at risk. Therefore, it is called a liquidation bonus. Following are the steps to liquidate a position at risk:
Step1: Visit Alpha Homora homepage.
Step2: Connect Wallet
Step3: Click on the Positions tab. Click Liquidate on the position at risk.
Step4: Confirm the transaction.
Alpha Homora Bounty Hunters
Another kind of special user includes Bounty hunters. They call the reinvest function in the contract that sells all yield-farmed tokens in the portfolio of Alpha Homora for ETH. Furthermore, bounty hunters gain 3% of the total reward. Below is the list of steps to reinvest and earn bounty:
Step1: Visit Alpha Homora homepage.
Step2: Connect Wallet.
Step3: Click the ‘Pool Status’ tab. Click ‘Reinvest’ on the desired pool.
Step4: Confirm the transaction.
Alpha Homora V2
With the various improvements in the first release comes out the new version called Alpha Homora V2. Also, this version allows users to hold up to 9x leveraged positions, lend or borrow other assets (apart from Ether (ETH)), and to borrow multiple assets.
Alpha Homora V2 adds more pool support on top of Uniswap. It includes Curve, SushiSwap, and Balancer. Also, it enables users to benefit from a diverse medium of pools to yield farms.
Alpha Homora V1 Vs Alpha Homora V2
Alpha Homora V2 is a new upgrade version from Alpha Homora V1. Moreover, It is a leveraged yield-farming product that allows users to nine-times leveraged positions. Besides, in the V2 version, other assets could be borrow-able (unlike ETH in the V1 version). It includes USDT, DAI, USDC, and other stable coins.
Furthermore, reward tokens could be reinvested and sold to user’s positions in V1. It includes UNI, SUSHI, and more. However, users could now claim their reward tokens.
Moreover, the ‘spell’ in V1 is different from V2. In simple terms, spell defines how protocol interconnects with farming pools. It includes the Uniswap spell, Curve spell, and Sushiswap spell. However, in V1, each pool has its own spell such as goblin.
Alpha Finance Lab
It is a DeFi product ecosystem. Furthermore, it is focused on automated yield-maximizing Alpha products. Alpha Homora guides you to interoperate to maximize returns and minimize risks. Moreover, it helps to offer innovation and a user-friendly way to its users. Also, it is associated with multiple industry-leading partners that would be a gateway to cross-chain liquidity and DeFi.
Is Alpha Homora Safe?
Alpha Homora is safe and secure to use. However, Alpha Homora reviews suggest that there are certain risks involved in liquidation. So, you need to analyze all the aspects before investing.
Alpha Homora Price Prediction
According to the wallet investor price prediction, the current price of Alpha Homora is USD 2.192. Furthermore, the price can go high from USD 2.192 to USD 6.748 in the period of one year. Also, the future predicted in the next 5 years of Alpha Homora coin could touch USD 25.193
Alpha Homora Login
Here are the login steps for every area
Step 1: Visit Alpha Homora homepage.
Step 2: Connect Wallet.
Let’s check other things you can do with Alpha Homora
Steps to start yield farming:
Step 1: Visit Alpha Homora homepage.
Step 2: Connect Wallet.
Step 3: Select your choice of yield farming pool.
Step 4: Input desired amount of assets. And, Leverage to farm
Step 5: Click OK. Confirm transaction.
Moreover, you can look for your opened positions under the ‘Positions’ tab. Also, you can refill or close the position to avoid liquidation if your ‘Kill Buffer’ is in the red zone.
Steps to providing Liquidity:
Step 1: Visit Alpha Homora homepage.
Step 2: Connect Wallet.
Step 3: Select your choice of Liquidity providing tool.
Step 4: Step4: Input desired amount of assets. Also, input Leverage level.
Step 5: Click OK. Confirm transaction.
Steps to lend ETH:
Step 1: Visit Alpha Homora homepage.
Step 2: Connect Wallet.
Step 3: Tap the‘ Earn on ETH’ tab. Input the desired amount of ETH to lend under the ‘Deposit ETH’ section.
Step 4: Click on the ‘Convert’ tab. Confirm the transaction.
Alpha Homora Alternatives
Platforms that are alternatives to Alpha Homora include DEUS and UMEX. Both of these platforms offer leveraged yield farming. However, compared to Alpha Homora, they are less advanced.
Takeaway
Alpha Homora has carved out a significant breakthrough for the Alpha Finance ecosystem. Furthermore, yield farming is the center of interest from a selling point perspective. Also, recently skyrocketed prices in Alpha Homora grabbed huge attention. Moreover, certain ways for the blockchain community have become a gateway to interaction.
Also, for the advanced Alpha Homora Medium users, Ethereum accounts also capture their interest. With innovative and transformative user-friendly features, Alpha Homora has reached an important DeFi space.
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