Alphr Attains The No1 Spot For ETH Staking
Holding cryptocurrencies has been taunted as the best route to financial freedom. The result is more people enthusiastic about holding these digital assets.
Staking was borne out of the need to incentivize holders while securing the network or protocol, as the case may be. DeFi protocols are the rave of the moment due to their staking service. It’s similar to how banks offer savings account packages with incentives for saving.
Since most dApps run on the Ethereum chain, ETH staking is popular on DeFi protocols available on the blockchain. You can choose to stake ETH alone or pair it with another allowed asset through LPs.
Though staking using LP tokens is often preferred due to the mouthwatering APY available, you have to be wary of impermanent loss. Cryptocurrency prices are volatile, so the value of your LP token is subject to change as well. Double asset staking rewards often come in both ETH and the native token of the dApp used. For instance, if a double asset staking is done on PancakeSwap, LP farmers get $CAKE and ETH fees.
Where Alphr Comes In
Alphr is a decentralized platform that offers mirror trading on DEXs. The protocol relies on liquidity providers to add liquidity for the ETH-ALPHR pair on Uniswap.
Alphr is an Eth-based platform, so the ALPHR-ETH liquidity pool is the obvious choice. Nevertheless, liquidity providers for the Alphr-ETH pair get 75% of the fees. This fee redistribution combined with the ALPHR staking rewards collected stacks up nicely.
How Alphr Compares With Other Double Asset Staking Options
Most DeFi protocols offer double asset staking.
On Sushiswap, you can stake LP tokens of ETH-USDT at an APY of 11.21% as of August 29th, 2021. Though small, the reward type is in the Sushiswap native token, SUSHI.
The ALPHR-ETH LP farming offers a bummer APY, larger than what you’d get on other LP farms. And it’s even more enticing since you get both ETH and ALPHR. The 75% fees redistribution put together by Alphr makes this possible.
Where other decentralized platforms offer 0.3% of the fees to liquidity providers, Alphr reserves a whopping 75% for liquidity providers; that difference accounts for the greater APY enjoyed by ETH-ALPHR LP holders.
What Else Does Alphr Have Going For It?
Alphr’s focus isn’t the double asset staking set to put liquidity providers in the ‘green’. That’s merely an incentive to encourage those that provide liquidity for transacting ETH-ALPHR on Uniswap.
The social trading platform is best known for the most profitable trading strategy: copying the pro.
Alphr organizes wallets that trade on decentralized exchanges based on certain criteria. These attributes include trade history, balance and more
To understand better how game-changing this is, picture copying the trades of the best traders you can think of. Often, most self-acclaimed gurus will only give you signals they don’t use.
Thanks to Alphr, you can follow their trade, not their words. Of course, you can’t exactly tell the exact person whose trade you’re mirroring. The social trading platform doesn’t link names to the wallets.
Choosing what wallet to follow is totally at your discretion. But the task is made easier due to the wallet hierarchy Alphr applies. You can tell what wallet is profitable to mirror its trades.
Conclusion
Alphr redefines how lucrative double asset staking can be. The decentralized platform offers the highest APY obtainable in liquidity mining. Liquidity providers have never had it so good.
There’s more: the Alphr mirror trading opportunity helps amateur traders make a profit in the highly unpredictable crypto market.
You may want to read up more on Alphr Finance by following their official websites below:
Website: alphr.finance
Medium: https://medium.com/alphr-finance
Twitter: https://twitter.com/AlphrFinance?s=09
Telegram: https://t.me/alphrfinance