Alpha finance announced a new way for liquidity providers to earn SUSHI. ibETHv2/ALPHA pool is now supported on SushiSwap. It means liquidity providers can earn the primary token of SushiSwap by staking their LP tokens there. It’s excellent news for those liquidity providers that have lent ETH on the Alpha platform. They can access the pool via SushiSwap or Alpha Homora V2.
More Earning Opportunities
Liquidity providers are essential actors in the DeFi world. They make it possible for decentralized exchanges to offer trading opportunities easier. All of the DeFi platforms provide incentives for users to attract them to providing liquidity. By increasing the choices for them, each DeFi platform tries to find more investors.
The recent announcement from Alpha says that liquidity providers now have more options for lending ETH and earning interest. They can now use both SushiSwap or Alpha Homora V2 for contributing to ibETHv2/ALPHA pool.
Alpha published a blog post to describe the latest collaboration with SushiSwap. The post includes the steps for migrating ibETH/ALPHA to ibETHv2/ALPHA and how to provide liquidity on Alpha Homora V2 and SushiSwap.
Migrating is very easy on the Alpha platform. Users should sign-in to their ALPHA Pools page and choose the “Migrate your liquidity to v2” option. The important note here is that the APY V2 is lower than APY V1. Alpha describes this difference:
“Note that the APY V2 is significantly lower than APY V1 because the Trading Volume Mining program on ibETHv2/ALPHA pool has not started. Currently, APY V2 comes from SUSHI rewards only. As a part of SushiSwap’s Onsen program, the rewards will also increase as liquidity in the pool increases.”
There are some next steps in the migration process. Alpha wants to start the Trading Volume Mining program on ibETHv2/ALPHA pool on SushiSwap this month. It means more ALPHA tokens will be distributed to liquidity providers.
Alpha focuses on providing a comprehensive solution for DeFi lovers. The platform is a combination of multiple DeFi products that are fully interoperable. It means users can easily access various pools and tokens and lower the risk of their investment. The partnerships with famous DeFi products like SushiSwap makes Alpha a better choice among competitors.
Every new service or product aims to make it easier for users to enter the DeFi world and experience the new investment opportunity. Alpha Finance Lab is at the core of these efforts. They focus on innovative services to solve the unaddressed demand in the DeFi world in an ecosystem of multiple products.
If you found this article interesting, here you can find more DeFi News
