Today, we’re pleased to announce that lending ETH on Alpha Homoro (v1) is now available on Enzyme! Lending ETH and earning no yield on this. ETH lending rates on Alpha have reached a staggering 45% this week. This gives Portfolio Managers within the Enzyme ecosystem some new options to play with!
What is Alpha Homora?
Alpha Homora is a leveraged yield farming and leveraged liquidity providing protocol launched on Ethereum main-net. ETH lenders can earn high interest on ETH. The lending interest rate comes from leveraged yield farmers/liquidity providers borrowing these ETH to yield farm/provide liquidity.
What problem does Alpha solve?
1: There are many ETH holders bearing low lending interest rate on ETH.
2: There are many yield farmers searching for higher yield farming APY that need to borrow ETH.
3: There continues to be more projects that want to bootstrap liquidity in their pool on a selected AMM protocol, giving rise to more yield farming opportunities.
Find out more about how Alpha works in their documentation here.
How to access Alpha on Enzyme?
Easy! Make sure you have ETH in your account. Go to Trade/Swap, select the Alpha adapter and convert ETH into iBETH.
Any questions? Join the Enzyme team on Telegram.