What is Alpha Coin? This is one of the projects launched on binance’s launchpad and launchpool. If you have heard about alpha coin in the crypto market but you are looking to learn more about this coin then don’t miss today’s article.
1 – What is Alpha Coin?
Alpha coin is actually a native token of the Alpha Finance Lab project that is used for the following purposes:
Liquidity mining: when users provide liquidity in Alpha lending (borrowing and lending), users can earn Alpha Tokens.
Use to pay staking rewards.
Governance voting: alpha token holders can participate in governance voting in the Alpha Lending Platform.
Basic parameters of Alpha token:
Token name: ALPHA Token.
Blockchain platform: Binance Smart Chain.
Token Type: Governance and Utility.
Token Standard: BEP-20.
Total supply: 1,000,000,000 ALPHA.
2 – What is Alpha Lending?
Alpha lending is a protocol that allows users to lend their assets to earn interest or mortgage their coins to borrow.
Simply put, it’s like you depositing money in a bank, then the bank will use your money to lend to others, the borrower pays interest to the bank, the bank will deduct part of the interest paid back to you.
On the contrary, if you want to borrow money from a bank, you will bring collateral such as real estate, car, … to get a loan. Every month you have to pay interest to the bank.
3 – What is Alpha Finance Lab?
Alpha Finance Lab is a Defi platform (Decentralized Finance – decentralized finance). This platform builds an ecosystem of products that interact with each other on different blockchains. The first product in that ecosystem is Alpha Lending, which is a decentralized borrowing/lending protocol. In addition, Alpha Finance Lab also has ALPHA token used as a means of circulation in the ecosystem.