Yield farming on Ethereum, pioneered by Compound during the DeFi Summer, has become a widespread phenomenon for organizations looking to jumpstart their liquidity and gain new users. However, the rising expenses of the process have grown increasingly expensive for the majority of individuals in recent years. As a result, Alpaca Finance was created as a solution to be a fair-launch leveraged yield farming protocol on the Binance Smart Chain (BSC) and Fantom Chain.
Alpaca Finance is the largest lending protocol allowing leveraged yield farming on Binance Smart Chain. It was developed to help lenders earn safe and stable yields, and also offers borrowers undercollateralized loans for leveraged yield farming positions, to multiply their farming principles and earn more profits.
Alpaca finance increases the liquidity layer of integrated exchanges by facilitating their capital efficiency by connecting LP borrowers and lenders, making it an enabler for the entire DeFi ecosystem. This empowering function has become a fundamental building block within DeFi that helps bring the power of finance to each person’s fingertips.
The Alpaca Insurance Plan, a sub-feature of the Alpaca Finance platform exists to provide some peace of mind to would-be investors in any of the products within our platform. Although in the unlikely case of a shortfall event, the presence of the Alpaca Insurance Plan will have a greater positive effect. It will encourage more users to deploy capital into the Alpaca platform, particularly high net worth individuals and institutions. As a result of their participation, the Insurance Plan will deliver higher Protocol Revenue to governance stakers, as well as boost the price of their ALPACA tokens through more buyback & burn. The insurance plan covers any shortfall event for which Alpaca Finance’s code or infrastructure is responsible, including bad debt for lenders, smart contract risk, exploits, economic design failure, severe oracle integration failure, etc.
Who are the founders of Alpaca Finance (ALPACA)?
The founders of Alpaca Finance are Hitoshi Harada, Yoshi Yokokawa, and Yuki Hayashi.
Before Alpaca, Hitoshi Harada worked in the database business and community for 10 years, gaining extensive knowledge in data science, machine learning, and image processing for industrial applications. Yoshi Yokokawa is the Co-Founder and CEO of Alpaca. He has had 2 past jobs including Associate – Capital Markets at Lehman Brothers Holdings Inc. Yuki Hayashi is also the Co-founder & CTO at Alpaca. He has had 3 past jobs including working as a Software Engineer at Nintendo.
What is Alpaca Finance (ALPACA) used for?
Yield farming is an innovative DeFi concept where users stake or lend their crypto assets, providing liquidity to receive returns. In Alpaca Finance, the source of one’s yield will depend on how one participates in the protocol, either as a lender or borrower.
Lending in yield farming
As a lender, the yield comes from the interest paid by borrowers to open leveraged yield farming positions, incentive rewards paid in ALPACA, and tokens of platform partners (in featured pools). Lenders can also earn safe and stable returns on their tokens by depositing them into the lending vaults. These assets are then offered to yield farmers for leveraging up their positions.
Borrowing in yield farming
As a borrower, incentive rewards from the AMM and underlying trading fees of the pool like trading fees from the PancakeSwap pools. Borrowers can borrow tokens from our lending vaults, allowing them to open a leveraged farming position, multiplying their farming APR by up to 6x.
Alpaca Finance also allows users to monitor the pool for leveraged farming positions with Safety Buffers at 0 and liquidates them, using bots only.
What makes Alpaca Finance (ALPACA) unique?
Following the features of Alpaca, known for being a virtuous breed, Alpaca Finance ensures the project will have no pre-sale, no investor, and no pre-mine, making it a digital product built by the people and for the people. Also, Alpaca Finance’s unique features know no bounds as they offer many farming pools for users to choose from, and help send transactions on BNB Chain as it is incredibly efficient and will cost much less gas than on other chains, therefore maximizing yields. The protocol’s leveraged positions will allow users to amplify their profit potential, providing higher yields on less capital. Also, the platform currently supports the following base assets: BNB, BUSD, USDT, TUSD, ETH, ALPACA, and BTCB and has its leveraged farming integrated with PancakeSwap & WaultSwap.
How many Alpaca Finance coins are in circulation?
Alpaca Finance has a circulating supply of 141,603,872 ALPACA coins and a max. supply of 188,000,000 ALPACA coins.
How is Alpaca Finance Network secured?
In the BNB Chain community, Alpaca Finance is widely regarded as one of the most secure platforms because of its spotless track record of never having had a security issue. They also operate using multi-layered security processes that provide the ultimate security. One of many is the platform is regularly being screened and audited by industry-leading 20 security audits, from top firms such as PeckShield, Certik, Inspect, and SlowMist. To verify their high security, in June 2021, Alpaca received the highest security rating on BNB Chain from Defi Safety which was advertised by BNB Chain itself, and the 3rd highest Security Score from Certik.
In regards to the ALPACA token being used by token sharks, the ALPACA token has been made dump-proof as 87% of the total supply goes to platform participants. The platform’s code is open-source, with every line having been combed through by hundreds of independent developers, and has also been reviewed by e a professional Bug Bounty Program with Immunefi to offer high rewards if anyone spots as little as a minor issue.
In addition, all the extensive code reviews have been conducted both internally and externally, and all smart contracts are owned by a Timelock contract. Thus, any changes made by the developers will have a 24-hour lag before becoming effective, allowing users have ample time to withdraw their funds and exit safely in the case of any questionable update to the code.
How do I buy Alpaca Finance (ALPACA)?
Alpaca is one of a few BNB Chain and Fantom protocols covered by Nexus Mutual, as well as a premium DeFi cover provider. The ALPACA token can be used for a wide range of uses including lending, farming, the Grazing Range, and staking.
ALPACA tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy ALPACA through your trading account.
Which Cryptocurrency Wallet Supports Alpaca Finance (ALPACA)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Alpaca Finance (ALPACA). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their ALPACA wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.