Dear Alpha community, our partners, and DeFi users, we'd like to share a post mortem on the recent Alpha Homora V2 exploit.

We’d like to sincerely thank everyone who has helped us, both on the technical and non-technical sides.

TL;DR 👇

blog.alphafinance.io/alpha-homora-v…
2/ The debt is not between users and Alpha Homora v2, but between Alpha Homora V2 and Cream V2.

This is because Alpha Homora V2 is integrated with Cream V2 (Iron Bank) in a protocol-to-protocol lending way. Thus, the debt is between the two protocols and not the users.
3/ Alpha team will work with @AndreCronjeTech and @CreamdotFinance team to find remedial actions to resolve the debt.
4/ Currently, borrowing (new leveraged positions and borrowing more to the existing positions) are now paused.

Lenders can still lend.

Leveraged yield farmers can still repay their debt, add collateral, and close the positions.
5/ This exploit is complicated, involving more than 9 transactions. We hope this thorough post mortem will not only be helpful to the Alpha community and our partners, but also to other projects and builders in DeFi.
6/ This moment shows how important it is to continue helping each other out and building a safer DeFi ecosystem for everyone, and Alpha team is committed to building and helping builders in the space to create a stronger and safer DeFi ecosystem.
7/ This incident has helped us and will continue to help us bond stronger as a community, and we look forward to building a brighter and safer future.
8/ Details of the post mortem below.

blog.alphafinance.io/alpha-homora-v…

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More from @AlphaFinanceLab

11 Feb
It’s been a busy January & first few weeks of Feb. Though January was a few weeks ago, we would like to still share

👉 a full recap of this eventful month
👉 and a sneak peak of what we are working on and what is coming up in the Alpha ecosystem. 🔥

blog.alphafinance.io/alpha-finance-…
2/ TL;DR

#AlphaHomora
1⃣Alpha Homora V2 was announced and launched

2⃣Total value locked on Alpha Homora V1 + V2 has grown from $188 Million on Jan 1st, 2021 to more than $1 Billion today

3⃣The migration process from Alpha Homora V1 to Alpha Homora V2 has started

👇
3/ #AlphaX
4⃣AlphaX private testnet round 2 was launched

$ALPHA Tokenomics
5⃣Designing and implementing ALPHA tokenomics 👀

Alpha project
6⃣Various media coverage and AMA
7⃣Welcoming @Delphi_Digital as our investor

Partners
8⃣Welcoming more partners to the Alpha ecosystem
Read 8 tweets
10 Feb
Since Alpha Homora V2 was launched on February 1st, we have been collecting and iterating on the feedback from our users and community members.

Today, we have launched new features and functionalities on Alpha Homora V2 user interface! 🚀

blog.alphafinance.io/new-features-o…
2/ TLDR
1⃣Leveraged users can re-leverage open positions.

2⃣Users can easily view total value locked by pool to evaluate their farming strategy.

3⃣Users can easily view asset prices on Alpha Homora V2. This is important as liquidation events are based on these prices.
3/ Feature 1⃣: Leveraged user can re-leverage open positions by borrowing more assets to yield farm/provide liquidity.

By doing so, user’s debt ratio will be closer to 100%, as more debt is added to the open position.

For a step-by-step guide, refer to blog post in last tweet.
Read 6 tweets
30 Dec 20
As 2020 is coming to an end, let us share with our community a reflection of 2020 and a preview of what is to come in 2021 for @AlphaFinanceLab!

Let’s dive in 🔥👇

#AlphaHomora #AlphaHomoraV2 #AlphaX #MoreAlphaProducts $ALPHA

blog.alphafinance.io/alpha-finance-…
2/20) Let us divide the 2020 review in multiple sections, starting from

Section 1: @AlphaFinanceLab project 🔥

1⃣ The project was launched in 2020 to build an ecosystem of innovative and user friendly #DeFi products
3/20) 2⃣ Secured funds from top-tier DeFi investors such as @TheSpartanGroup, @multicoincap, and @DeFianceCapital

3⃣ $ALPHA was listed on @binance in early October 2020 through the Launchpad program
Read 20 tweets
28 Dec 20
@AlphaFinanceLab would like to now welcome
@BoringDAO_Defi community to #AlphaHomora by supporting $ETH / $BOR and $ETH / $oBTC pools that are on @SushiSwap!

What does this mean to $BTC supporters? 👇

blog.alphafinance.io/alpha-homora-a…
2) ETH/oBTC will join a family of Bitcoin-based pools, including $ETH / $WBTC and $ETH / $renBTC, that #AlphaHomora has been supporting.

#Bitcoin supporters can easily participate in #DeFi and
#YieldFarming on #Ethereum with a single-asset supply functionality on #AlphaHomora.
3) This means anyone who owns $oBTC, $WBTC, or $renBTC

can earn from #DeFi and #YieldFarming by simply supplying these tokens to the relevant pools on #AlphaHomora without needing to have $ETH.

What do users gain from ETH/BOR and ETH/oBTC pools? 👇
Read 5 tweets
16 Dec 20
$ALPHA team would like to now share more details on #AlphaX, the decentralized, non-orderbook perpetual swap trading market and a new class of trading product previously unavailable on-chain.! 🔥

Let’s take a look inside #AlphaX!👇

blog.alphafinance.io/inside-alphax/
2) First and foremost, for those who have not signed up for access to beta private testnet, you can still sign up via the link below until Dec 17th, 5AM UTC.

We'll grant access in the coming days. Stay tuned!

👉Sign up: forms.gle/USgX6yMEQtm8VB…

Continue for UI sneak peek 👇
3) This screenshot is how #AlphaX private beta version looks like! $ALPHA team has built #AlphaX UI to be as user friendly as possible.

We believe a great #DeFi product doesn't only need to be innovative, but also need to be user friendly to existing and new #DeFi users. Image
Read 10 tweets
14 Dec 20
Liquidity providers of $ibETH / $ALPHA will now be able to earn $SFI on top of $ALPHA starting on Dec 15th, 6AM UTC! 💥

Special thanks to @saffronfinance_ on this collaboration

How to earn $SFI and $ALPHA? 👇

blog.alphafinance.io/saffron-will-n…
2) $ALPHA is already being distributed to LPs of $ibETH / $ALPHA in a form of high trading fees APY no matter where you are provide the liquidity from.

You will receive these $ALPHA rewards when you remove the underlying liquidity (not airdropped to your wallet).
3) In order to receive $SFI in addition to $ALPHA, you need to either provide the following on Saffron:

--> Provide $ibETH and $ALPHA
--> Or provide UNI-v2 LP token of ibETH/ALPHA pool for those who have already provided liquidity to the pool
Read 8 tweets

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