ALPHR FINANCE AUGUST MONTH WRAP-UP
Alphr Finance had a strategic kick start for the month of August, starting off with launching the Alphr ‘Build With Us’, a detailed guide that contains Alphr’s vision, DAO structure, DeFi thesis, the community first approach to building, Alphr labs, and their organizational structure.
The mission of creating a DeFi for everyone was indicated, alongside how they hope to achieve it which includes; removing the barrier to entry caused by the fear of losing money or the experience of losing money whilst dabbling in crypto, Providing industry leading onboarding and customer support by re-imagining the customer support experience in De-Fi and Providing a familiar user experience through Alphr social media platform, where users can follow a wallet and see their trades in real time in their feed, to make copying them easier.
In the Alphr 18th week report, 20 ambassadors were on board and the official discord was updated with additional channels like the Live Alphr Twitter Feed, Ideas and suggestions, Memes and art, Alphr Media kit, Platform, Governance, Protocol and New international channels. The Alphr DAO got set up, it is operating with token holders voting and the first three proposals were worked on.
Approval for Alphr labs burn rate up to a maximum of $100k per month was made and testing and fixing of bugs for launch was done the next week.
Alphr Finance paved the way towards fair distribution of funds by choosing to reward liquidity providers with ETH as well as the ALPHR token. Both the farming and protocol usage rewards went live this August. Alphr started a new marketing campaign with a growing number of active ambassadors and key opinion leaders discussing their breakthroughs, press covering their updates, daily video and article content being posted, as well as community competitions and giveaways.
On the first day in beta, they recorded a volume of $100k. In a but to allow users to purchase $Alphr via Alphr and earn protocol usage rewards without getting rekt from slippage due to insufficient liquidity, the team migrated some liquidity from Uni V3 to Uniswap V2 because at the moment Alphr contracts only work with V2.
On the 22nd of August, the Eth and Alphr APY on the platform did over $400k in volume with fees increasing + annualized yield for ETH is increasing and increased to 136% ETH with 304% of APLHR. For users that farm, a daily reward of 89% APY on their Eth was introduced.
A Meme contest was released with winners to be announced on September 6th. The EPED MEME competition requires participants to Show their MEME skills and enter to win up to $400 in ALPHR tokens! The rules and requirements of the competition are simple, the meme should not contain any links, No NSFW memes. No discrimination, Alphr Finance will not be responsible for any copyright infringement, deadline do submission is 3rd September.
To submit the MEME, participants are to tweet their MEME with ‘#EPED $alphr #eth #AlphrAstronauts #meme’, Like and retweet the contest announcement tweet, Tag three of their crypto friends and submit their MEME in the #meme channel on Discord.
You would agree that August was a fulfilling month for Alphrfinance with growth and great activities going on. Stay tuned for the September update, it’s definitely going to be a bigger bomb.
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