Alpha Finance Lab will be able to work in harmony with more than one blockchain at the same time as of next weeks. Alpha Homora will be moved to Binance Smart Chain as part of its expansion efforts.
Developed as a competitor to Ethereum, Binance Smart Chain has grown its user base with promises of low transaction fees and waiting times. BSC, which has become popular with platforms such as PancakeSwap, will also host the Alpha Homora project.
A “DeFi ecosystem” with multiple compatibility
Alpha Finance Lab wants to spread the products it developed to several different blockchains. The Homora project, which is part of the Alpha ecosystem, will be moving to the BSC network in the coming weeks. This is expected to grow the user base of Binance Coin and PancakeSwap.
It is stated that Alpha’s mission is to establish a “DeFi ecosystem” that is compatible with multiple blockchains. “Whether its base is Ethereum, Binance Smart Chain, or any other platform; We will continue to look for gaps in the market, ”said Alpha management, explaining that the growth of this ecosystem will affect the ALPHA token.
Alpha Finance Lab’s investors include The Spartan Group, Multicoin Capital and DeFiance Capital trio.
Binance Smart Chain wins another member
The number of Ethereum projects connecting with BSC is increasing. Ethereum-based 1inch started working with Binance Smart Chain on February 25th. 1inch CTO Anton Bukov told CoinDesk that the decision was made due to the high transaction fees on Ethereum.
The Graph, an indexing platform, posted an announcement the day before Alpha Finance Lab. The Graph, which is Ethereum based like 1inch, can now support Binance Smart Chain.
Binance Coin, another element of the Binance ecosystem, gained 453% in 30 days. BNB is trading at $ 243.45 as of March 3.