Binance has just announced that it will soon launch Alpha Finance Lab (ALPHA) and the special thing is that this time it will be a dual launch – both issuing ALPHA on Binance Launchpad and setting up a farm for tokens on Launchpool. According to the announcement, Binance will use a lottery to issue ALPHA, the time to record users’ BNB balance will last within 8 days from, 07:00 on September 30, 2020 to 07:00 on 10/08/2020.

What is Alpha Finance Lab (ALPHA)?

Alpha Finance Lab is a multi-chain DeFi platform, focused on building an ecosystem of ALPHA interoperable and transferable products 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 network fees 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 earn interest by providing assets supported on the protocol. The assets deposited by the lender will be transferred into a smart contract that aggregates the total liquidity of each asset into a common fund, which is available to the borrower. The interest that the borrower has to pay is allocated proportionally to the lending liquidity providers.

IEO ALPHA sale opening details

• Token name: Alpha Finance Lab (ALPHA)
• Launchpad hard cap: $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 USD (price in BNB will be determined before the draw date)
• Token Sale Format: Lottery
• Maximum number of winning lottery tickets: 10,000 VND
• Allocation for each winning ticket: $200 USD (10,000 ALPHA)
• Token used to buy: Only BNB

Lottery time

• From 07:00 on September 30, 2020 to 07:00 on October 8, 2020: During this period, users’ BNB balances will be calculated using hourly snapshots for each day over an 8-day period. Your last daily average BNB balance for these 8 days will determine how many tickets you can claim.
• From 13:00 on 08/10/2020: Ticket claim period will open at this time to all eligible users for a 24-hour period (ticket allocation and BNB holding rules). Users must also sign the Token Purchase Agreement at the same time, before completing the ticket purchase request. Please note that users will only be able to claim tickets once.
• From 13:00 on October 9, 2020: Ticket claim ends and the lottery begins.
• From 15:00 on 09/10/2020: Winning ticket is announced and corresponding BNB will be deducted from each winning user’s account.

Details of ALPHA tokens in Binance Launchpool:

• Token name: Alpha Finance Lab (ALPHA)
• Launchpool Token Reward: 50,000,000 ALPHA (5% of total supply)
• Farming time: 07:00 on September 30, 2020 to 07:00 on October 30, 2020
• Staking terms: No upper limit. No KYC required.

Supported Pools:

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

You can learn more about Alpha Finance Lab (ALPHA) here.

Veronica

According to AZCoin News

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