Yield farming in the DeFi industry is often done by providing liquidity to a decentralized exchange (DEX) like Uniswap. In return for doing so, users can earn a share of the fees generated by the trading pair they are providing liquidity for. On the other hand, Alpha Homora makes it possible to leverage your yield farming position up to 2.5x. It also allows you to earn based on your personal preferences and risk appetite. This way, you can increase your overall liquidity mining earnings.
Alpha Homora is like a DeFi Turbocharger
Alpha Homora is the second working product developed by Alpha Finance Lab. It’s designed to let users leverage their liquidity mining exposure. More specifically, those engaging in DeFi yield farming can “amplify” their positions. This is probably the first time that leverage comes into the picture for DeFi yield farmers, which makes the platform a unique project in Decentralized Finance.
Yield farming is not the only option to explore, either. The platform supports ETH lending and also lets participants become special users called liquidators and bounty hunters. We’ll get into what these mean later on. The bottom line is that all of these options let users earn money depending on their personal preferences and risk appetite. All of these options can allow for high APY rewards, making Alpha Homora appealing to DeFi enthusiasts.
Diverse Yield Farming Options of Alpha Homora
The first option to explore in Alpha Homora is yield farming. Once a user connects their wallet, they can deposit funds, determine their leverage, and begin farming immediately. Alpha Homora V2 now welcomes the Index Coop, Uniswap, and Sushiswap communities to explore leveraged yield farming opportunities, including the ETH-DPI pool on both Uniswap and Sushiswap. Additionally, users can now engage in lending and borrowing of DPI, UNI, and SUSHI tokens. Explore leveraged pools such as WETH/WBTC, WETH/USDT, WETH/USDC, WETH/DAI, and WETH/DPI to maximize yield farming potential.
Benefits of Yield Farming with Alpha Homora’s Boost
Alpha Homora Introduces new ways to engage in yield farming, which is beneficial to both yield farmers and the broader DeFi industry. Moreover, the platform allows users to earn higher APYs without having to trust any middlemen. On the other hand, Smart contract audits are a major point of concern for investors.
There have been numerous DeFi projects that launched without a proper security audit. In contrast, Alpha Homora’s smart contracts have been audited by Peckshield, which is a blockchain security company that provides comprehensive security audits.
The addition of Alpha Homora to the Alpha Finance ecosystem introduces additional synergy for the ALPHA token. As with other Alpha products, the tokens are also used as part of the governance of the Alpha Homora protocol. Involving the community is an important step towards achieving long-term sustainability.
