Binance, the world's largest cryptocurrency exchange by trading volume, has just announced it has added support for the ecosystem of DeFi products Alpha Finance Lab to its Launchpad and Launchpool platforms.
Alpha Finance Lab is focused on researching and building in the decentralized finance (DeFi) space. Alpha Lending, the first product developed by Alpha Finance Lab, is a decentralized lending protocol with algorithmically adjusted interest rates built on Binance Smart Chain (BSC). The product will serve as an important building block for DeFi apps on the BSC.
The ALPHA token, the native utility token of the platform, includes several use cases such as liquidity mining, governance voting and staking. It must be noted that all Alpha products will tie back to ALPHA and reward users for using Alpha’s products.
The $2M token sale of the ALPHA token is expected to begin on October 8, 2020 at 6:00 AM (UTC).
Alpha Finance Lab is the fourth project to be launched in the Launchpad this year. Three other projects have been successfully launched on the Binance Launchpad platform and have raised more than $6M in total.
Binance users will also be able to stake their BNB, BUSD and BAND tokens into separate pools to farm ALPHA tokens over 30 days using the new Launchpool format, with farming starting on 30 September at 0:00 AM (UTC).
Binance will also list the ALPHA token on October 10 at 5:00 AM (UTC) and open trading for ALPHA/BTC, ALPHA/BNB, ALPHA/BUSD and ALPHA/USDT trading pairs.
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