Alpha Finance Lab (ALPHA) rises 923% in 30 days
Do you know there is a new crypto asset around the block, which surged by about 923% in less than a month? Alpha Finance (ALPHA) is the name of the coin that surged in a couple of weeks and has since left people wondering.
The Alpha token’s current price is $0,288168 with a 24 hours price rise of 6 percent. From November 3 to December 3, Alpha increased from a low of $0.02 to $0.30 despite the spikes in the trading volume.
Alpha decentralized lending protocol
Alpha has a decentralized lending protocol that is supported by the Spartan group and Multicoin capital. It connects businesses and consumers seeking to borrow money and investors looking to earn higher fixed interest-like returns than possible in traditional fixed interest instruments.
For a broad range of purposes, borrowers may access funds, ranging from debt restructuring, home renovation, car financing, bridging finance, and business loans. The amounts lent range from as little as $500 for citizens to $300,000 for corporations. Using advanced computer algorithms, the P2P network secretly matches buyers and lenders, and some are considering using blockchain for the security and transparency that this technology offers.
.@AlphaFinanceLab is a team of young and driven DeFi coders + operators focusing on shipping synergistic products.— Jason Choi (@mrjasonchoi) December 2, 2020
Imo this is where many DeFi protocols are heading, culminating in the rise of DeFi "super apps".
More on this in a bit.
Jason Choi, the head of research at the Spartan group, described Alpha Finance Lab as:
A team of young and driven Defi coders and operators focusing on shipping synergistic products. In my opinion, this is where many Defi protocols are heading, culminating in the rise of Defi ‘super apps”.
In just a little time, Alpha has also had some significant milestones.
3 Major Milestones of Alpha Finance Lab (Alpha)
- Launching of Alpha Homora: Alpha Homora has now launched yield farming on the Ethereum Mainnet for UNI and INDEX. 2.5M ALPHA, which was distributed during the 30-day ALPHA liquidity mining period.
- Launching of Public Testnet: In Decentralized Finance, Alpha Lending is the first of many financial primitives to solve the bridge between supply and demand. To bring accessed liquidity across cross-chain DeFi, the aim of months of development, product scoping, testing, and protocol design coming to life.
- Alpha pools locked on Binance Launchpool: Alpha pools had its value locked on Binance Launchpad on September 30, and it has already locked assets and accumulated more than 4.2M BNB, 47M BUSD, and 5.8M BAND.
ALPHA, involving staking, sharing rewards through adding liquidity to or securing the protocol, as well as governance processes, would serve as the central utility token across a portfolio of Alpha products.