On Feb. 25, Alpha Finance Lab’s governance token (ALPHA) experienced a price surge triggered by its announcement partnership with Compound Finance (COMP). The cross-chain DeFi platform has previously partnered with Binance Smart Chain (BSC). Alpha’s Partnership with Compound Finance Triggers Token Price Surge Following the announcement partnership with Compound Finance (COMP), the ALPHA token surged to $1.78 and is currently trading at $1.30. The partnership will allow the users of Compound to integrate with Alpha Homora and lend assets across platforms. As the deposit APY on Ether (ETH) being higher on Alpha Homora, users of Compound can make the best out of yield farming by borrowing ETH against collateral in their accounts and lending it on the ALPHA protocol. Alpha Lab’s integration with Binance Smart Chain has also proven to be beneficial due to being a cheaper alternative to the Ethereum network. Its Alpha Lending testnet on Binance Smart Chain was initially launched in September 2020. The Alpha team recently tweeted on the progress following integration with Binance Smart Chain (BSC). Impressed with Binance Smart Chain (BSC)'s growth and traction. Hope to join the party soon 😉@binance #BinanceSmartChain https://t.co/9NT7tkAs8q — Alpha Finance Lab (@AlphaFinanceLab) February 20, 2021 Compound Finance is a DeFi lending protocol that allows lending or borrowing of cryptocurrencies. It is currently the third-ranked DeFi protocol by total value locked (TVL). Meanwhile, Binance Smart Chain (BSC) is a blockchain platform that runs in parallel to the Binance Chain. However, unlike the Binance Chain, BSC includes smart contract functionality and compatibility with the Ethereum Virtual Machine (EVM). Alpha Finance Lab Builds Interoperable Blockchain Products Alpha Finance Lab is a cross-chain DeFi platform that intends on building products that are interoperable across a different range of blockchains from Binance Smart Chain (BSC) to Ethereum. Its Alpha Lending is the first product built by Alpha Finance Lab, a DeFi lending protocol with algorithmically adjusted interest rates. The ALPHA token is the native utility token of the platform. The holders of ALPHA token holders can earn a share of the network fees by staking ALPHA tokens to cover any default loans. The tokens can be further used for liquidity mining and governance voting.
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