Homora V2, the largest multi-chain lending and leveraged yield farming protocol, is now available on Fantom! Initially deployed on Ethereum in October 2020, Homora is the first flagship product incubated by Alpha Finance Lab. Homora V2 has since achieved close to $1 billion TVL across different chains, including Ethereum, BSC, and Avalanche.
Many of you may be familiar with yield farming, but Homora V2 will allow you to earn even more rewards with leveraged yield farming opportunities.
Homora V2 allows borrowers to open undercollateralized leveraged positions and supply liquidity with flexible combinations of assets, creating opportunities with excellent APY. To kickstart the launch on Fantom, Homora has handpicked several high-quality, and high-yield pools from top DEXs like Spookyswap for users to farm!
The advantage of Homora V2 on Fantom
Homora V2's vision is to be the one-stop-shop for all DeFi users, meaning that regardless of your risk profile and your level of DeFi knowledge, you’ll still be able to safely earn steady yields.
Lending for high APY offers users an attractive way to earn more than by just HODLing. Leveraged yield farming on Homora V2 incentivizes users to borrow, thus bringing higher interest rate returns to lenders. Initially, Homora will offer FTM, BTC, ETH, USDC, fUSDT, and DAI for users to lend.
On the other side of the trade, Homora V2 leveraged yield farms offer borrowers rewards that are unmatched anywhere else. These earning opportunities easily offset lending interest rates and make it advantageous for users to open leveraged positions.
Users have a variety of pools to choose from with different risk profiles; these include secure, quality pools like stablecoin/FTM, BTC/ETH, and FTM/ETH. More pools will be added as Homora V2 grows on Fantom.
Leverage yield farming for any market
One of the key strengths of Homora V2 is its ability to be adaptable to any market situation depending on the risk level preferences of users.
During bear markets, users will be able to short assets by leveraging over 2X. This is achievable on Homora V2 as users can supply any combination of assets when opening new farming positions, thus converting the additional borrowed assets into a synthetic short position (added to the supply-side).
For example, to short the stablecoin/FTM pool, users can supply only the stablecoin side and borrow FTM. The extra amount borrowed to reach over 2X leverage will be swapped automatically into the stablecoin to ensure a 50:50 ratio when supplying the liquidity pool.
In bullish situations, users can open long positions by supplying the bullish token instead and leveraging the stablecoin over 2x.
Yield farmers looking for medium/low-risk strategies can instead leverage up to 2X and only borrow stablecoins for farming. Since stablecoin volatility is always lower than altcoins, users farming with leveraged stablecoins will be more likely to remain below the debt ratio.
Regardless of volatility, however, users should check their positions regularly to minimize liquidation risk.
More announcements and updates are coming soon. Follow Alpha Finance Labs on social media for the latest updates.
About Homora V2
Homora is the first flagship product incubated under Alpha Finance Lab deployed on the Ethereum network in October 2020. It is the largest multi-chain lending and leveraged yield farming protocol. Our long-term vision is to be the go-to protocol across key chains and L2s that offers the highest yields and the safest environments. Homora V2 is currently available on Ethereum, Avalanche, Fantom, and more coming soon.