Alvara Protocol Testnet Goes Live

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.