Alpha Finance Lab aims to build an ecosystem of DeFi products that maximize returns and minimize risk by arranging interoperability.
Alpha Finance launched its first product Alpha Homora in October of last year, which enables users to yield farm using leverage.
With the growing popularity of yield farming and little competition in the market (no players in the market provide leveraged functionality), Alpha Homora quickly became popular among DeFi users. In fact, the project was the fastest protocol to reach a $600M TVL in DeFi’s history.
After version one, the project quickly launched version two of its product, supporting more automated-market-making protocols and allowing for even higher leverage. The team is also in the process of launching several other DeFi products.
However, not everything went smoothly for the project over its several months of operations. The biggest hurdle that the team was the victim of a protocol hack. The attacker took over $37.5 million through a multi-step process involving a series of flash loans.
Although this was a severe hit, it did not kill the project. The team released a plan for how it will reimburse lost
