Alfprotocol CEO: “Alf Aims to Become a Homepage for DeFi on Solana”

The DeFi industry has become one of the sectors that recorded and still recording significant growth. Each day, more financial institutions are embracing DeFi as a huge percentage plans to do so in the future.

The reason behind this rise is a result of the endless opportunities DeFi provides for developers and users alike. DeFi’s overall market value is more than $105 billion, according to CoinGecko, compared with the early start of 2021 when its market cap was around $21 billion.

With that said, Matas Sauciunas, CEO of Alfprotocol recently granted an interview where he talked about Alfprotocol becoming a homepage for DeFi on Solana. As well as, securing significant Venture Capital funding that they have used to develop a protocol for liquidity provision and yield farming.

Speaking on what Alfprotocol is about, Matas says that the protocol is a decentralized application built on the Solana blockchain. It allows users to supply their tokens to earn interest and borrow some funds by providing collateral. 

Alfprotocol also lets users use its in-house built decentralized exchange to become liquidity providers by supplying tokens to the farms. Thus, they earn yield rewards and token rewards in return. Explaining further, he mentioned that Alfprotocol aims to provide leverage for users to utilize to increase their position size while investing in the liquidity provision.

Matas claims that he and his team chose Solana because they are building a super-fast, leveraged protocol. He believes that Solana can provide them with a blockchain that is fast with transactions and also cheap to use. Besides, the DeFi protocols within the Solana network are still at the early stages.

Matas highlighted some of the advantages of the Alfprotocol. He asserts that the first benefit is that users will have an all-in-one place. Secondly, those who are risk-seeking investors will have an opportunity to use higher leverage (in some cases up to 200x)  for liquidity provision.

Thirdly, he affirms that the entire team building and collaborating on the protocol is transparent.  That is to say, they provide regular updates on the development status, educational material, and more.

Alfprotocol is still at the early stage of development and its public IDO is scheduled to hold within Q2 of 2022. Subsequently, a fully working protocol will be launched in late Q3, 2022, he reveals. He also disclosed that the current backers of the project are Zen Capital, Dust Ventures, DIB Ventures, SRT Ventures, Alpha Hunt, and Scorpio VC.

Matas establishes that users do have an opportunity to apply an allocation of Alfprotocol tokens at the early stage of the protocol. He states that this round is a Pre-IDO round and it is available on their website.

He adds that alternatively, users can send us an email via [email protected] with the headline — “Pre-IDO round.” Once an email is sent, its dedicated person will reply and help with the allocation process.

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