Users can participate in Alpha Homora as Yield Farmers, Liquidity Providers, ETH Lenders, Liquidators, and Bounty Hunters.
This is where the magic happens. Yield Farmers and Liquidity Providers select a pool they want to yield farm with leverage or provide liquidity with leverage.
To understand where the APY for each pool comes from, refer to Where Does APY Come From For Each Pool?
For more details on what yield farmers and liquidity providers get, refer to Protocol Users.
For detailed step-by-step guide for yield farmers and liquidity providers, refer to Step-by-step Guide.
This is where Liquidators and Bounty Hunters can earn the rewards.
Liquidators earn 5% of the position value they liquidate.
Bounty Hunters earn 3% of the total rewards (farmed tokens) they help reinvest.
For more details on what liquidators and bounty hunters get, refer to Protocol Users.
For detailed step-by-step guide for liquidators and bounty hunters, refer to Step-by-step Guide.
This is where ETH holders can lend their ETH and earn very high lending interest rate.
The lending interest rate comes from the interest rate that leveraged yield farmers/liquidity providers pay for borrowing these ETH to yield farm/provide liquidity.
For more details on what ETH lenders get, refer to Protocol Users.
For detailed step-by-step guide for ETH lenders, refer to Step-by-step Guide.
This is where current Aave users and those who are looking to lend on Aave can earn even more.
With “Earn on Aave + ETH” feature, users will be able to lend assets on Aave (or skip this for current Aave users), have those assets be used as collateral, borrow ETH from Aave, and lend the ETH borrowed on Alpha Homora.
Since the deposit APY on ETH on Alpha Homora is higher than the borrow APY on ETH on Aave, you will already earn from this difference in addition to the deposit APY of other assets that you lend on Aave.
Everything is simplified for our Aave and Alpha Homora users, and they can follow 3 simple steps all from Alpha Homora frontend.
For more details and step-by-step guide, refer to this blog post.
This is separate from the core functionality of Alpha Homora product offering.
These ALPHA Pools are under the Trading Volume Mining program that we are running.
Trading Volume Mining program allows those who provide liquidity to ibETH/ALPHA either through Alpha Homora or through Uniswap to earn ALPHA. ALPHA rewards are distributed out in a form of high trading fees APY to liquidity providers.
ibETH is interest-bearing ETH that ETH lenders receive upon lending ETH on Alpha Homora. ibETH is similar to cETH in Compound.
To learn more about ALPHA Pools and Trading Volume Mining, refer to Trading Volume Mining (Part 2B).
Since there is only ibETH/ALPHA pool on Uniswap, this is where users can swap between ETH to ALPHA and vice versa.
If you want to swap your ETH to ibETH to earn interest on ETH, you can also do it here.