The Alpha Finance network is a DeFi platform operated on a cross-chain that is aimed at bringing users to the Alpha platform on a collection of different blockchains, some of which include the Binance Smart Chain and the Ethereum blockchain. Alpha is directed towards producing an ecosystem of decentralized financial products which are created to address a series of problems facing the industry while its use still retains its simplicity and access. The first creation of the Alpha Finance network was Alpha Lending which is a decentralized lending facility that adjusts interest rates by a specific algorithm.
The second product launched by the Alpha network is a leveraged yield-farming known as the Alpha Homora. Additionally, a secondary product is known as the AlphaX which is a perpetual swap product on a non-order book that is expected to be launched in 2021.
The platform plans to implement a governance system through a decentralized autonomous organization that allows holders of the ALPHA token to vote on the future Alpha products specifically, and by extension determine how they interoperate. The governance process in the system is divided into two parts which are finance-level governance processing and product-level governance requiring the holders of the token with major control over what the future holds for Alpha.
Who are the Founders of Alpha Finance (ALPHA)?
The Alpha Finance Network was launched in 2020 after a public sale for its tokens was held on the Binance platform.
Alpha Finance was established by the leader of Alpha Finance Labs’ project Tascha Punyaneramitdee, who also held the position as the previous head of strategy at the Brand protocol. Before landing in the Alpha Finance ecosystem, Punyaneramitdee got most of her field experience from working with several global financial corporations. In her most recent endeavor, she worked as an investment analyst in the banking sector of Jefferies for a year between 2017 and 2018. Later she went on to serve at giant Tencent as its product manager from 2018-2020.
Apart from Punyaneramitdee, the core members of the network also cut across professionals from several fields such as blockchain researcher and engineer, Nipun Pitimanaaree. Pitimanaaree holds a degree from the Massachusetts Institute of Technology in Mathematics and Computer Science. Apart from the plethora of discoveries and papers, Pitimanaaree also won a gold medal for four years in a row from competing in the International Mathematics Olympiad. In all, Alpha Finance is made up of at least seven members according to the LinkedIn profile of the network.
What is Alpha Finance (ALPHA) used for?
The Alpha Finance platform is working towards bringing about a major change to the existing model of operation in the world of blockchain technology. The application of its cross-chain technology bringing its tokens to its users via different blockchains might just be the next big thing. The ALPHA token is the dedicated utility cryptocurrency of the platform which is used for the facilitation of transactions. Users that hold this token also have the right to a share of the fees earned by the network via the process of staking ALPHA to make up for any loan defaults. Other uses of the token also cut across voting for its governance and mining for liquidity.
What Is the Unique Point of Alpha Finance (ALPHA)?
The Alpha Finance system is focused on differentiating itself from the contemporary Defi systems through its actions of searching, identifying, and dealing with unmet shortcomings in the world of decentralized finance with a specific type of development cycle known as the breakneck system.
Unlike the majority of these other Defi platforms, Alpha Finance network is working towards providing solutions that don’t just provide in-demand utility but also incorporate used-friendly provisions to help the Defi space become generally more accessible to the public. As such, each of the products created by the Alpha Finance network is directed towards enhancing the entire ecosystem through its provision of utility for users that hold ALPHA tokens.
All the first generation of products delivered by the Alpha Finance network individually claim to be aimed at bringing specific solutions to problems facing the market. The first release was the Alpha Homora which brought about the concept of leveraged field farming. Upon the launch of its V2 in 2021, the product promises to deliver an innovative system that facilitates borrowing from a different smart contract in a way that does not require collateral.
How many Alpha Finance (ALPHA) coins are in circulation?
Upon the launch of the dedicated utility token of the Alpha Finance network, ALPHA its total supply was pegged at 1 billion ALPHA. Out of that amount, a total of 174.1 million tokens have become its circulating supply. Based on information from the Alpha Finance research paper on Binance, the allocation of the ALPHA token supply followed a specific procedure. Its launchpad sale took a total of 10% of the total supply, ifs launchpool was assigned 5% of the supply, a private sale was held that cost 13.33%, liquidity mining took 20%, the ecosystem was assigned 36.67% and finally the advisors and team took 15% of the supply.
Is the Alpha Finance (ALPHA) Network secured?
Given that the ALPHA token was designed under the ERC-20 specification implies that it is run on one of the largest and most secure blockchains available in the world. The Ethereum network ensures the highest level of security in its ecosystem through the use of its dedicated proof-of-work mining mechanism. The system makes use of a network of miners who are tasked with maintaining the network’s integrity.
Even though the Alpha Finance network has a collection of dedicated researchers and developers, the system still banks on audits from external sources to guarantee the security of its smart contract system. For instance, The Alpha Finance system has employed the services of both Quantstamp and PeckShield to audit the code for the system’s Alpha Homora V2 smart contract.
How do I buy Alpha Finance (ALPHA)?
As a top-shelf platform, the Alpha Finance network is able to meet a series of solutions to problems that have faced the world of decentralized finance and blockchain technology as a whole. While this promotes the use of cryptocurrency in general, it has also helped the platform gain popularity. Now, more and more people are charging into the network to purchase its tokens and this can be easily achieved. To buy ALPHA tokens, all that is required is to:
- open an account on a platform that supports Alpha Finance Wallet and specializes in cryptocurrency trading
- Find the account with fiat currency and wait for confirmation of the transaction.
- Upon confirmation, you can then buy ALPHA tokens through the trading account.
Which Cryptocurrency Wallet Supports Alpha Finance tokens?
PTPWallet Is a platform that supports transacting simultaneously with different cryptocurrencies such as Alpha Finance and some other coins and tokens. As a result of its provision of top-tier services, its rate of adoption has hit the roof. Apart from its most basic function of facilitating crypto transactions, it also allows its users to discover other cryptocurrencies. All of these with a state-of-the-art user interface is what sets it aside from other platforms.