DeFi protocol, Alpha Homora has announced the relaunch of the Alpha Homora v2 on Ethereum. The relaunch will involve features that lenders and yield farmers can leverage in the Alpha ecosystem.
The team announced the relaunch on Twitter:
“Alpha Finance Lab is ecstatic to announce the long-awaited upcoming relaunch of #AlphaHomorav2 on #Ethereum! This is one of the milestones towards our mission to build and incubate an innovative #Alpha ecosystem in #DeFi.”
The innovative features aim to boost the adoption and growth of the Alpha Homora v2 platform, expand the Alpha Homora v2 protocol through various partners in the pipeline, and accrue more protocol fees for ALPHA stakers.
Benefits For Yield Farmers
Yield farmers will leverage pools on Uniswap, SushiSwap, Curve Finance, and Balancer Labs. There will be more assets available for borrowing by using $UNI, $SUSHI, $CRV, and $BAL LP (liquidity provider) tokens as collateral.
The leveraged pools will utilize the innovative architecture of Alpha Homora v2 as the platform will handle more leveraged pools than v1. The leveraged pools will not just be Ethereum based and will have stablecoin-based pools too.
The relaunch will also bring more assets for leveraged yield farmers to borrow in along $ETH and stablecoins. Liquidity providers and yield farmers will also be able to use LP tokens as collateral. Alpha Homora v2 has a ‘Bring Your Own LP’ (BYOLP) token feature that supports LP tokens from Uniswap v2, SushiSwap, Curve, and Balancer.
Features For Lenders
Users on the lending side of Alpha Homora v2 will lend additional assets on top of the ibETHv2 (interest-bearing tokens) and stable coins (ibDAIv2, ibUSDCv2, ibUSDT) already supported by the protocol.
The relaunch will provide more assets that users can lend, with even more ibTokens to accrue value. Lenders can earn high and pure APY on the soon-to-be supported assets. Alpha Homora is collaborating with various partners to increase the utility of ibTokensv2, creating more opportunities to improve capital efficiency.
Alpha Homora v2 Innovates On The Oracle Front
Among other unique features for leveraged farmers and lenders, the relaunch has innovated on the Oracle front. The team states,
“Alpha Homora v2 will be the first DeFi protocol to build and adopt an oracle aggregator contract, aggregating prices from multiple trusted oracle providers.”
Alpha Finance Lab is an ecosystem of DeFi products that will interoperate to maximize returns while minimizing risks for users. The team conducts thorough research and analyses to ensure the products brought to DeFi add real value to the ecosystem, are tech-focused and secure to protect users.
Alpha Homora’s Plans Post Relaunch
Upon the launch of v2, the team will start migrating positions and liquidity from Alpha Homora v1 to Alpha Homora v2, ensuring a smooth and easy process for users. The upgraded functionalities in v2 will provide users with an enhanced experience, improved security, and more opportunities to provide liquidity in a capital-efficient manner.
The team further adds,
“While this marks a significant milestone for the Alpha Finance Lab project, it is an early chapter on our mission to build and incubate an ecosystem of DeFi products that capture unaddressed demand in the key pillars of the incumbent financial system. As we continue our quest to heighten user yield and experience, the Alpha ecosystem will remain an innovative and capital efficient banking system in DeFi.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.