Archimedes said, give me a lever I will move the whole world.
Alpha Homora’s magician will say, give me a lever, I can help BOR holders eat the whole plate of sushi
BOR/ETH, oBTC/ETH, the two most important assets of BoringDAO ecosystem, were officially added to Sushiswap’s Onsen List last week through a community proposal. Anyone can provide liquidity for BOR/ETH and oBTC/ETH pairs, and farm sushi at the same time!
In addition, liquidity migration from Uniswap to Sushiswap can be a very good choice. Sushiswap’s TVL has broken through 1B USD, which is on the same order of magnitude as Uniswap. And the Sushiswap community is quite active.
Of course, we have another good news to announce to everyone.
BoringDAO has officially reached a cooperation with Alpha Finance. The BOR/ETH pair will be able to achieve a better yield-farming experience through Alpha Homora protocol, the first Alpha product among an ecosystem of Alpha products that are being developed by Alpha Finance Lab.
Alpha Finance Lab has a long-standing reputation around DeFi community. Their first product, Alpha Homora, is particularly impressive. Through the Alpha Homora protocol, anyone can leverage his/her position in yield farming pools.
At the same time, it can also allow users to add liquidity by single asset and automatically reinvest “harvest” to maximize the alpha income of yield-farming.
So, what is the principle behind using Alpha Homora? Here is a brief introduction.
First of all, whether Alice holds BOR, ETH or BOR+ETH, she can deposit these assets in Alpha Homora ETH/BOR pool at any ratio. For Alice, this is her last and the only step. The follow-up all steps will be taken care of by Alpha Homora.
Similarly, whether Alice holds oBTC, ETH or oBTC+ETH, she can deposit these assets in Alpha Homora ETH/oBTC pool at any ratio. Everything else will be taken care of by Alpha Homora.
After Alpha Homora’s smart contract receives the funds, it will automatically swap to 1:1 equivalent BOR+ETH or oBTC+ETH, and then add it to the BOR/ETH or oBTC/ETH Sushiswap liquidity pool. At the same time, Alpha Homora will get the SLP. Then, the smart contracts will deposit SLP into Sushiswap’s Onsen to farm Sushi.
Besides, Alpha Homora can also automatically swap sushi for ETH to reinvest into the BOR-ETH or oBTC/ETH liquidity pool, and then repeat the above steps.
If farmers used sickles to harvest in the past, obviously Alpha Homora is the latest smart combine harvester!
Apart from BOR/ETH and oBTC/ETH pools, everyone can also lend ETH on Alpha Horoma protocol and earn the highest lending interest rate on ETH in DeFi market.
Risk warning: Yield farmers are exposed to impermanent loss risk. This is the same risk as participating in other yield farming or liquidity providing opportunities in AMM pools.
Let’s taste the magic sushi!