What exactly is Stella (previously known as Alpha Finance Lab) (ALPHA)?
Stella is a platform that offers leverage strategies without any borrowing costs. Its goal is to transform the way leveraged Decentralized Finance (DeFi) operates. For DeFi to thrive, an efficient leverage system is crucial, as it enhances the utilization of decentralized exchanges (DEXes) and money markets, which are the foundational elements of DeFi. As these core components grow, they pave the way for more protocols and innovations to emerge, benefiting from a strong liquidity base and solid structure.
Stella aims to be the top choice for DeFi enthusiasts looking to maximize their yield potential. Any on-chain strategies that users wish to leverage (assuming they are safe enough), Stella will support with zero borrowing fees.
The protocol consists of two main components: Stella Strategy and Stella Lend.
- Stella Strategy: This allows users to engage in various leveraged strategies without paying interest on borrowed funds, enabling them to earn enhanced yields.
- Stella Lend: This is where lenders can provide assets to lending pools on Stella and earn genuine returns. The profits generated from Stella Strategy are shared with the lenders.
Who comprises the core team behind Stella?
1. Tascha Punyaneramitdee: Project Lead
Previously served as the Head of Strategy at Band Protocol, worked as a Product Manager at Tencent, and was an Investment Banking Analyst at Jefferies.
2. Nipun Pitimanaaree: Tech Lead
Former Chief Research Officer at OZT Robotics.
3. Arin Trongsantipong: Product Lead
Worked as a Software Engineer at SCB 10X, SCBC, and Cleverse.
What sets Stella apart from others?
- Stella Strategy offers users the ability to expand their positions by borrowing from Stella Lend at no interest cost. This means they can hold larger positions, thus increasing their potential returns from trading fees, token rewards, or market movements.
Instead of traditional interest rates that accumulate based on usage, Stella implements a 0% borrowing interest policy. It follows a Pay-As-You-Earn (PAYE) model, where, if a leveraged position ends with a positive yield, a portion of the profit is taken as a fee for using borrowed liquidity from Stella Lend.
- Stella Lend is ideal for users who wish to lend assets and earn annual percentage yields (APY) through in-kind token rewards, without a ceiling on lending APY. Borrowers from Stella Strategy can utilize these lent assets to create leveraged positions. The earnings from these borrowers are shared with lenders as lending APY thanks to Stella's PAYE approach.
How many Stella (ALPHA) tokens are currently in circulation?
The ALPHA token serves as Stella's native cryptocurrency. It was introduced with an initial circulation of 174.1 million tokens, out of a total supply of 1 billion ALPHA.
According to information from Binance's Stella paper, the total allocation of ALPHA tokens is as follows:
- Binance Launchpad Sale: 10.00% of the total token supply
- Binance Launchpool: 5.00% of the total token supply
- Private Sale: 13.33% of the total token supply
- Liquidity Mining: 20.00% of the total token supply
- Team & Advisors: 15.00% of the total token supply
- Ecosystem: 36.67% of the total token supply
Tokens designated for the team are locked until August 2021 and will be fully vested by March 2024.
How does the Stella network ensure security?
As an ERC-20 token, ALPHA benefits from the security provided by Ethereum's robust and widely-used blockchain. The network's security is maintained by an extensive proof-of-work (PoW) mining network, which deploys numerous dedicated miners to uphold its integrity.
While Stella has a team of dedicated developers and researchers, it also depends on external audits to guarantee the safety of its smart contracts. Stella is currently completing the final phase of its smart contract audit with PeckShield and is collaborating with Trust 90, aiming to finish by June 1, 2023.
For the latest updates on our audit status, please refer to our Gitbook.
What can holders of Stella (ALPHA) tokens do?
The value generated within the Stella ecosystem will be shared with those who stake ALPHA tokens. Upon staking, ALPHA holders will receive:
- Protocol fees from the Stella network, regardless of which chains or layer-2 solutions Stella is deployed on.
- Tokens from previous incubated projects once they become publicly available, allowing stakers early access to high-quality projects.
- Voting rights to participate in Stella's governance through protocol proposals.
