Alpha Homora from Alpha Finance, using the decentralized finance (DeFi) protocol, announced the upcoming launch of its staking opportunities and new tokenomic model.
In an announcement made on March 23, Alpha Finance stated that ALPHA token holders will benefit from the growth of their products. These include Ethereum-based Alpha Homora, Binance Smart Chain version of the platform, Alpha Homora v2 and AlphaX.
Alpha Homora, the DeFi leveraged lending protocol, was launched on February 1 in v2. Integrated a number of existing DeFi protocols such as Curve, Balancer, Yearn Finance, SushiSwap, and Uniswap for leveraged yield farming.
The announcement did not mention a launch date for the new staking incentives. However, the team added that they would provide more information “in the coming days”.
Alpha Homora allows DeFi farmers to earn leveraged returns. This step currently yields higher returns than a number of available pools and vaults in other protocols.
APLHA Price Update
The ALPHA token was trading at $ 1.75 at the time of writing, up 3.3%. It increased 9% compared to the same period last week and 14.5% last month. Its total market value is $ 453 million.
Reaching an all-time high of $ 2.90 on February 5th, ALPHA has declined 37.5% since then. According to DeFi Pulse, the total value locked on the platform is $ 800 million. It also fell from the $ 1.2 billion peak on February 13th.
New staking opportunities can give this DeFi token another opportunity for increased price momentum.