What is Alpha Finance Lab (ALPHA)? Overview of ALPHA token and IEO Alpha Finance Lab on Binance Launchpad

Binance has just announced the launch of Alpha Finance Lab (ALPHA) soon, and what’s special is that this time it will be a dual launch – both releasing ALPHA on Binance Launchpad while setting up a farm for tokens on Launchpool. According to the announcement, Binance will use the lottery to issue ALPHA; the time to record users’ BNB balance will last eight days from 00:00 on September 30, 2020, to 00:00 pm. August 10, 2020.

What is Alpha Finance Lab (ALPHA)?

Alpha Finance Lab is a multi-chain DeFi platform, focusing on building an ecosystem of interoperable products and transferring ALPHA to users on different blockchains. The project was started with Binance Smart Chain (BSC) and Ethereum.

The ALPHA token is the platform’s native utility token. Token holders can earn a portion of the network fee by staking ALPHA. Furthermore, ALPHA can also be used for liquidity mining and governance voting.

The project’s first product, Alpha Lending, is a decentralized lending protocol. Users can make a profit by offering assets supported on the protocol. The assets deposited by the lender will be transferred to a smart contract that aggregates the liquidity of each asset into a common fund, which is available to the borrower. The interest payable by the borrower is distributed proportionally with the loan liquidity providers.

The detail on sale IEO Alpha Finance Lab (ALPHA)

  • Token name: Alpha Finance Lab (ALPHA)
  • Hard cap Launchpad: $ 2,000,000
  • Total token supply: 1,000,000,000 ALPHA
  • Total tokens allocated to Binance Launchpad: 100,000,000 ALPHA (10% of Total Supply)
  • Price: 1 ALPHA = $0.02 (price in BNB will be determined before the dial date)
  • Token sale format: Lottery
  • Maximum number of winning lottery tickets: 10,000
  • Allocation for each winning ticket: $200 (10,000 ALPHA)
  • Token used to buy: Only BNB

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Time of the lottery

  • From 00:00 on September 30, 2020, to 00:00 on October 8, 2020: During this period, the user’s BNB balance will be calculated by the hourly snapshot for each day for eight days. Your final average daily BNB balance over these eight days will determine the number of tickets you can claim.
  • From 06:00 on October 8, 2020: The claim ticket period will open at this time to all eligible users within 24 hours (ticket allocation and BNB hold rules). Users must also sign the Token Purchase Agreement simultaneously before completing the ticket purchase request. Please note that users will only be able to claim tickets once.
  • From 06:00 on October 9, 2020: The claim ticket has ended, and the draw will begin.
  • From 08:00 on October 9, 2020: Winning tickets are announced, and the corresponding BNB will be deducted from each winning user’s account.

Details of the ALPHA token in Binance Launchpool:

  • Token name: Alpha Finance Lab (ALPHA)
  • Launchpool token reward: 50,000,000 ALPHA (5% of total supply)
  • Farming time: 00:00 on September 30, 2020, to 00:00 on October 30, 2020
  • Staking Terms: There is no upper limit. No KYC is required.

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Supported pools:

  • Stake BNB: 32,500,000 ALPHA (65%)
  • Stake BAND: 12,500,000 ALPHA reward (25%)
  • Stake BUSD: 5,000,000 ALPHA bonus (10%)

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