New Ethereum yield farm backed by Binance, top crypto VCs just launched

Ethereum yield farming has declined dramatically over recent weeks as retail investors have seemingly sidelined their capital and as the price of leading DeFi coins has moved dramatically lower.

Yield farming is far from dead: a new yield farming project backed by top investors in the space, along with leading crypto exchange Binance, just launched.

It promises to allow users to bolster the yields they can access while dabbling in DeFi.New Ethereum yield farm backed by top firms goes live.

Just hours ago, Alpha Finance's "Alpha Homora" product went live with liquidity mining.

A user depositing 10 ETH to farm Unswap's ETH/WBTC pool through Alpha Homora can pay an interest rate and borrow 20 ETH from a public pool to bolster their yields by 200 percent.

Borrowers and lenders of the pool of ETH earn regular rewards paid in the project's native ALPHA token.

Alpha Homora manages liquidation risks by allowing "Liquidators" to easily liquidate leveraged yield farming positions that are at risk of being undercollateralized.

Behind this new product is Alpha Finance Lab, an ecosystem of DeFi products focused on Ethereum and Binance Smart Chain.

"Alpha Finance Lab is focused on building an ecosystem of automated yield-maximizing Alpha products that interoperate to bring optimal alpha to users on a cross-chain level."

Alpha Finance Lab's ALPHA token is being listed by Binance while the company itself has received financial support from three top venture capitalists in the DeFi space: Spartan Group, Multicoin Capital, and DeFiance Capital.