Listing Proposal: Add ALPHA as an asset to lend/borrow on Venus
Hi Venus community! I’m Amp Burapachaisri from Alpha Finance Lab and this is my proposal for adding ALPHA as an asset to lend and borrow on Venus.
Background
Alpha Finance Lab is focused on building an ecosystem of DeFi products that will interoperate to maximize returns while minimizing risks for users. Alpha products focus on capturing unaddressed demand in DeFi in an innovative and user-friendly way.
Key Facts
ALPHA is a governance token for Alpha Finance Labs ecosystem and portfolio of products - token holders can vote on the opened proposals for key product metrics.
- The first product from the portfolio is Alpha Homora, a protocol that enables leveraged yield farming. It captured $1 billion of TVL within 4 months since its launch in October 2020, bringing Alpha Homora to top 15 of DeFi Pulse (at the time of writing #13).
- Upcoming products include AlphaX, a decentralized, non-orderbook perpetual trading platform with tokenized positions and funding rate baked into the price of the asset.
Alpha Finance CEO, Tascha Punyaneramitdee, has an extensive worldwide banking background with a vision to reform traditional finance in a decentralized manner. She was also former Head of Strategy at Band Protocol. Building with Tascha is Alpha’s lead engineer, Nipun Pitimanaaree, an MIT graduate with degrees in mathematics and computer science, and 4x International Mathematical Olympiad gold medalist. His blockchain research centers on developing algorithms to detect and trade arbitrages in cryptocurrency markets.
Motivation & Benefits
ALPHA is not listed as collateral on any platforms so far, yet its liquidity pools with ETH tend to be highlighted as trending on many AMMs. With its outstanding achievements, Alpha attracted the attention of the whole DeFi space including the recent announcement of Delphi Digital’s investment in the project. Other notable investors include The Spartan Group, Multicoin Capital, and DeFiance Capital.
Benefits for Venus
- Increased TVL for Venus: Listing ALPHA token as the primary place would bring a flow of TVL in form of Alpha tokens as collateral to borrow against it (current market cap according to CoinGecko at time of writing is $424m)
- Increased brand-awareness: Alpha Team is already collaborating with Venus, borrowing liquidity for its leveraged positions in Alpha Homora v2. Listing Alpha as collateral would cause a stream of marketing activities that will bring new users to Venus - 4100 members of Telegram Group and 44k Twitter followers.
- Access to Alpha token holders: 7500 holders + over 20k users participated Binance Launchpad
Token
- Symbol: ALPHA
- Blockchain Type: ERC20, BEP20
- Role of Token: Utility
Exchanges
- ALPHA is listed on a number of popular exchanges including Binance (margin enabled, futures enabled).
- Daily trading volume averages to $7.22 billion over the last 3 months according to CoinGecko.
Sources & Relevant Links
At the time of writing, ALPHA has a market cap of $424m.