The Binance exchange has a double launch in mind: the Alpha Finance Lab will be placed on both Binance Launchpad and Binance LaunchPool.
Alpha Finance Lab (ALPHA) is a system that is part of the decentralized finance (DeFi) sector and that allows managing assets maximizing their yield automatically.
This protocol will start both on Binance Smart Chain and Ethereum.
This will launch the first product, the ALPHA token lending, already operative on Binance Smart Chain (BSC). The token will allow interaction with various products such as staking, receiving rewards and of course it will also act as a governance token.
Binance has therefore thought well to use it to launch ALPHA on Launchpad for the sale of tokens, which will be 100 million for Binance, which is 10% of the entire 1 billion token supply. The sale will follow the standard format seen on Launchpad with its lottery system. Please note that some countries will not be able to participate in the sale of the token, such as the US for example.
Alpha Finance Lab will also be supported on LaunchPool, where users will be able to put in stake BNB, BAND and BUSD and start farming, for which 50 million ALPHA tokens are available; this is 5% of the total supply.
It’s interesting to note that there are no staking limits and no need to complete the KYC (Know Your Customer) procedure.
The Project Lead of Alpha Finance Lab, Tascha Punyaneramitdee, said:
“We believe cross-chain DeFi and cross-chain liquidity are keys to drive the next stage of DeFi. Alpha products will not only take advantage of Binance Smart Chain’s scalability and the long tail of assets, but also contribute more innovative building blocks to the Ethereum ecosystem and the up-and-coming cross-chain DeFi ecosystem”.
This objective is very similar to that of Binance, as stated by CEO Changpeng Zhao:
“We’re excited to have Alpha Finance Lab join both Binance Launchpad and Launchpool. Alpha’s goal is very close to us – to provide greater access to DeFi to the wider population. And first-ever double launch will afford a promising experience for our users.”