1/ How about a little $ALPHA leak?

People think that @AlphaFinanceLab is a leveraged yield farming protocol and its core that's true, but I think they are building and will develop into something much bigger. Their upcoming v2 launch will enable users to yield farm by

2/ borrowing stablecoins from @CreamdotFinance as one of two protocols (the other is @iearnfinance) whitelisted as part of Cream's zero-collateral lending for the Iron Bank. You won't have to yield farm being short eth anymore, you can short the worthless dollar.

3/ The flip side is that depositors into the ibETH pool are earning 11% APY interest on their ETH. I don't recall the utilization ever being below 80% either and I've been tracking since early December. Clearly, there is high demand for yield farming.

4/ Soon users will be able to deposit other assets like USDC, DAI, LINK, YFI, AAVE, and earn interest on those. I anticipate this will suck up a ton of capital from the market and Alpha will morph into a quasi-lender, that also provides leveraged yield-farming among other

5/ products. Look at who is using Alpha to do some of their farming, while also earning interest on their ETH. Yep that's right it's [redacted].

6/ They are also building an on-chain perpetual product that will be the first of its kind as it will have a built-in funding rate. Users only need to know of the price - with built-in funding - when they buy or sell a position. This perp product will also be traded on a

7/ secondary market, enabling DeFi users to develop more hedging or derivative strategies. This may or may not be priced in yet. A peak at their GitHub also reveals an IL product that is in development. https://github.com/AlphaFinanceLab/alpha-asguard

8/ So how does the token have value? Well, it can likely be voted by governance (token holders) to siphon earnings from ibToken interest, swap fees, Alpha X fees, their IL product fees, to Alpha token holders making it an income producing asset. They don't have any earnings

9/ released so any modeling I would do is far to speculative to share. But another, more crude metric may be to look at Mcap/TVL ratios. No direct competitors but looking at AAVE (0.94), UNI(1.29), SUSHI (0.52), Compound (0.35) Alpha has among the lowest of such ratios (0.53).

10/ This excludes assumption that TVL is about to explode when users can deposit other assets besides ETH to earn interest, and yield farming on stablecoin pairs. I'm expecting TVL to at least double in the medium term and should exceed $1b.

11/ While increasing the marketcap/tvl ratio. The team is very strong and @nipun_pit their CTO ranked 4th in the International Mathematical Olympiad Hall of Fame winning 4 gold medals. I've spoken with @tascha_panpan several times and I'm

12/ impressed with her work ethic, and desire to innovate and push the envelope for DeFi forward. If France doesn't turn out to be Germany and DeFi continues to move upwards I still by my assertion that

13/ Alpha has a good shot of being the AAVE of 2021. You were warned. https://twitter.com/DeFiGod1/status/1347167016428466177

14/ This is not financial advice. And the price is significantly up, DYOR and don't get rekt.