Binance announced that it is launching support for Alpha Finance Lab and its products via the exchange’s incubator program, Launchpad, and its newly launched DeFi yield farming protocol Launchpool. Alpha Finance Lab offers a slew of DeFi-related services and the first one highlighted in Alpha Lending, a protocol that runs on the Binance Smart Chain (BSC) and features interest rates which are automatically adjusted via an algorithm.
Running on both BSC and Ethereum networks, Alpha Finance Lab allows users to maximize their yields across variegated DeFi products across both chains. Users will use the ALPHA token for staking, rewards and governance when more products are rolled out to the public via Binance.
“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”, said Tascha Punyaneramitdee, Alpha Finance Lab Project Lead.
The ALPHA token will be listed on Binance on October 10, when it will also be available for trading with Tether (USDT), Bitcoin (BTC), Binance stablecoin (BUSD) and Binance Coin (BNB). Prior to this, Binance users can initiate ALPHA farming over a period of 30 days starting from September 30 by staking their BUSD, BNB or DeFi token BAND.
