Listing Proposal: Add ALPHA as an asset to lend/borrow on Aave

Listing Proposal: Add ALPHA as an asset to lend/borrow on Aave

Hi Aave! I’m Amp Burapachaisri from Alpha Finance Lab and this is my proposal for adding ALPHA as an asset to lend and borrow on Aave.

Overview

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.

Key Facts

  • 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 #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, 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 Aave

  • Increased TVL for Aave: 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 $401)
  • Increased brand-awareness: Listing Alpha as collateral would cause a stream of marketing activities that will bring new users to Aave. 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

Token

  • Symbol: ALPHA
  • Blockchain Type: ERC20, BEP20
  • Role of Token: Utility

Exchanges

Relevant Links & Resources:

At the time of writing, ALPHA has a market cap of $401m

9 Likes

Support for a protocol token that is seeking to implement uncollateralized loans that has already been exploited… I don’t see any scenario where the tail risk is worth the reward.

1 Like

A great team with quality products, I believe it would be perfect fit with Aave.

3 Likes

100% agree. Alpha team has been heads down innovating for the past 3 months.

4 Likes

Alpha has responded quite well to the hack and they’ve been demonstrating that they’re taking serious steps to ensure that they’ve removed any risk as much as is possible. There have been reviews by Peckshield as well as ReviewsDAO. Tokenomics and staking launches are soon and token is expected to see good price appreciation due to these. Definitely worth adding alpha imho.

4 Likes

Support this fully. They’ve rebounded well from the exploit

4 Likes

Partnership would be great for both parties.

3 Likes

I think it would be a great addition.

3 Likes

Alpha announced that its tokenomics goes live in few days: https://twitter.com/AlphaFinanceLab/status/1374185205611696130

3 Likes

Would love to see this partnership

Excited to see Alpha is relaunching AlphaHomoraV2 with additional features, leveraged pools and assets to borrow.