Hi Compound 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 Compound.
Alpha Finance Lab is focused on building an ecosystem of innovative 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.
- ALPHA is a governance token for Alpha Finance Lab 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, the first leveraged yield farming product in DeFi. 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 #12).
- Upcoming products include AlphaX, a decentralized, non-orderbook perpetual trading platform with tokenized positions and funding rate baked into the price of the asset, and more Alpha products in the making.
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. Prior to Alpha, Nipun worked as Chief Technology Officer at a major robotics company.
Motivation & Benefits
Currently, ALPHA is only listed on CREAM, 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 Compound
- Increased TVL for Compound: Listing the ALPHA token 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 $444m)
- Increased brand-awareness: Listing Alpha as collateral would cause a stream of marketing activities that will bring new users to Compound. Alpha Finance Lab’s community includes 4100 members of Telegram Group, 5900 members on Discord, 42k Twitter followers.
- Access to Alpha token holders: 8400 holders + over 20k users participated in the Binance Launchpad
- Symbol: ALPHA
- Blockchain Type: ERC20, BEP20
- Role of Token: Utility
- ALPHA is listed on a number of popular exchanges (Alpha Finance price, ALPHA price index, chart, and info | CoinGecko) including Binance (margin enabled, futures enabled).
- Current daily trading volume is hovering around $358m according to CoinGecko (https://www.coingecko.com/en/coins/alpha-finance/historical_data/usd?end_date=2021-02-06&start_date=2020-11-06#panel).
Relevant Links & Resources:
At the time of writing, ALPHA has a market cap of $444m