Alvara Protocol Testnet Goes Live
May 16 2024 - 9:00AM
Alvara Protocol, a decentralized platform that utilizes the
ERC-7621 (Basket Token Standard) to create and manage funds on the
blockchain, today announced the official launch of its testnet,
marking the most significant milestone yet in its development of
the ultimate DeFi-based system for fund management.
With the testnet now live, users will have the opportunity to
explore the platform firsthand in a sandbox environment that allows
them to interact with the protocol, provide feedback, and help
shape the future and impact of Alvara on both the DeFi and TradFi
industries.
“We value the insights and suggestions from our community as we
strive to refine and enhance our product, preparing an eventual
mainnet that can serve both retail and institutional use,” said
Alvara Co-Founder Dominic Ryder. “Decentralized fund management is
a key driver in the ongoing mission to create a financial system
that truly belongs to the people, and we look forward to the help
of our community in building the best tool yet for a new,
individual-centered, and decentralized world of finance.”
All Alvara Factory and Basket Token Standard smart contracts
have undergone thorough audits by industry-leading cybersecurity
firm Quill Audits, and additional audits and comprehensive
pentesting will be conducted in anticipation of the mainnet launch.
Also as part of the testnet launch, Alvara is migrating all its
contracts to the Sepolia test network as Ethereum’s Goerli testnet
will soon be deprecated. Users will need sepETH for gas fees and
contributions to a basket (BTS) on the platform.
Alvara Protocol democratizes the world of fund management,
providing an innovative tokenized fund factory that leverages
decentralized finance, maintaining transparency, increasing
liquidity, and providing a more cost-efficient solution than
traditional hedge funds and exchange traded funds (ETFs). Built on
the newly developed ERC-7621 token standard, Alvara provides an
innovative tokenized fund factory that paves the way for anyone to
become a fund manager. This unique ecosystem maintains complete
transparency, allowing other investors to confidently contribute to
the fund. For more information about Alvara Protocol, please
visit https://www.alvaraprotocol.io.
About Alvara Protocol
The Alvara Protocol is a decentralized platform that utilizes
the ERC-7621 (Basket Token Standard) to create and manage funds on
the blockchain. Alvara offers a comprehensive fund Factory and
Marketplace, with a transparent leaderboard showcasing the
performance of every BTS created. ALVA and veALVA tokens assume
crucial roles in driving the ecosystem’s growth and governance with
veALVA holders wielding significant influence over the substantial
ALVA reward stream. Removing traditional barriers, Alvara fosters a
democratic meritocracy in crypto investing, enabling full lifecycle
fund management, from creation to ownership transfer, within its
seamless framework. For more information about Alvara Protocol,
please visit https://www.alvaraprotocol.io.
mike.evans (at) transformgroup.com