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What is Alpaca Finance (ALPACA) | What is Alpaca Finance token | What is ALPACA token

Alpaca Finance

Fair-launch leveraged yield farming protocol on Binance Smart Chain

Let this majestic South American mammal take your yield to a new height!

Alpaca Finance is the first leveraged yield farming protocol built on the Binance Smart Chain (“BSC”). We are a fair launch project with no pre-sale, no investor, and no pre-mine. It is truly a product built by the people, for the people.

Why did we build Alpaca Finance?

Pioneered by Compound during the DeFi Summer, yield farming on Ethereum has become a widespread method for projects to bootstrap their liquidity and acquire new users. However, as of late, the rising costs of the process have become more and more prohibitive for the majority of people. In fact, Ethereum has become a whale game because the gas fees are just too damn high!

As a result, Binance Smart Chain (BSC) has experienced an exponential boom in popularity, and in this emerging ecosystem, we noticed a gap amongst the applications offered there compared to other chains such as Ethereum. To be specific, one of the largest missing pieces–was an on-chain leverage protocol!

Thus, Alpaca Finance was born, seeking to provide value to the BSC community through leveraged yield farming.

How you can participate in Alpaca Finance

As a user, you can participate in Alpaca Finance in four different ways:

Lender: Alpaca Finance allows you to earn income on your base assets by depositing them into our vaults. These assets will then be offered to yield farmers for leveraging up their positions.

Yield farmer: As a farmer, you can earn a higher yield by opening a leveraged position on Alpaca Finance. Of course, this comes with bigger risks: liquidation, impermanent loss, etc.

Bounty hunter: Calling a contract to claim pending rewards and reinvesting them back into the pool, receiving part of the reward in return.

Liquidator: Monitoring the pool for underwater positions and liquidating them when they become too risky.

At launch, we will support two base assets — BNB and BUSD — and integrate our leveraged farming with PancakeSwap.

In this example below, we show how each participant works together in our ecosystem:

  • Alice the lender deposits her BNB into our deposit vault; her asset becomes available for a yield farmer to borrow; she earns interest for providing this liquidity
  • Bob the yield farmer wants to open a leveraged yield farming position on the BTC/BNB pair; he borrows BNB from the vault and enjoys higher yield farming rewards
  • Alpaca Finance smart contract takes care of all the mechanics behind the scenes — optimally switching assets to the right ratio, providing liquidity to the pool, staking LP for Pancake Rewards
  • Carlos the bounty hunter monitors the amount of rewards accrued in each pool and helps reinvest it back, compounding returns for all farmers. For this service, he takes 3% of the reward pool
  • Erin the liquidator monitors the health of each leveraged position, and when it goes beyond designated parameters, she helps liquidate the position, making sure lenders such as Alice do not lose their capital. For this service, she take a 5% reward on the liquidated position amount

Stake

We offer many staking opportunities to participants that contribute to the growth of our ecosystem. These opportunities will change from time-to-time. For now though, we have three staking opportunities for users:

Follow the steps below to start earning ALPACA tokens

Staking ibBNB / ibBUSD token

  • Go to the Alpaca stake page (https://app.Alpacfinance.org/stake)
  • Connect to your Web3 wallet (such as MetaMask) and make sure your network is set to Binance Smart Chain. Click here if you do not have the network in your wallet yet.
  • Select the ibBNB/ibBUSD staking pool
  • Specify the amount of tokens you want to stake - if you do not yet have ibBNB or ibBUSD token, you must first deposit BNB/BUSD into our vaults​
  • Click “Stake”

  • After clicking “Stake”, You should get a pop-up notification in your MetaMask to accept the transaction
  • Wait for the transaction to be processed
  • Once the transaction has gone through, you should see the amount of staked ibBNB/ibBUSD tokens
  • You are now earning ALPACA rewards!

Staking Pancakeswap ALPACA-BNB LP token

(If you already have the LP token, you can skip to the next section)

An LP token acts as proof that you are a liquidity provider to the ALPACA-BNB pool. You can use it to stake to earn ALPACA tokens

  • Click “Unlock Wallet”
  • You may have to wait up to 30 seconds for your balance to be loaded

  • Specify the amount of BNB / ALPACA you wish to add to the liquidity pool
  • Click “Supply”

  • Review the information and click “Confirm Supply”

  • After clicking “Confirm”, You should get a pop-up notification in your MetaMask to accept the transaction
  • Wait for the transaction to be processed
  • Once the transaction has gone through, you should receive Pancake LP token in your wallet. You can then follow the steps below to stake the LP token

Staking LP token

  • Go to the Alpaca stake page (https://app.Alpacfinance.org/stake)
  • Connect to your Web3 wallet (such as MetaMask) and make sure your network is set to Binance Smart Chain. Click here if you do not have the network in your wallet yet.
  • Select the PancakeSwap ALPACA-wBNB LP staking pool
  • Specify the amount of LP tokens you want to stake
  • Click “Stake”

  • After clicking “Stake”, You should get a pop-up notification in your MetaMask to accept the transaction
  • Wait for the transaction to be processed
  • Once the transaction has gone through, you should should see the amount of staked ibBNB/ibBUSD tokens
  • You are now earning ALPACA rewards!

To unstake, follow similar steps as described above but instead of “Stake”, click on the “Unstake” button

Claim Rewards

Below are the steps to claim your ALPACA rewards

  • After clicking “Claim”, You should get a pop-up notification in your MetaMask to accept the transaction
  • Wait for the transaction to be processed
  • ALPACA tokens will appear in your wallet

If you do not see ALPACA tokens in your wallet, it might because you have not added it to the token list. Follow the steps here to add custom tokens in MetaMask

ALPACA Tokens

Alpaca Finance is a fair launch project with no pre-sale, no investor, and no pre-mine. Similar to many fair launch projects, we will reward various participants that help bootstrap our ecosystem. This will be the only way to earn ALPACA tokens.

We will soon launch a governance vault that allows community members to stake their ALPACA tokens; stakers will receive xALPACA where 1 xALPACA = 1 vote, allowing them to decide on key governance decisions.

In the initial phase, governance decisions will be made on Snapshot

Capture Economic Benefits of Platform

We will let the community decide how they want the economic incentives to be captured by ALPACA token — for example, it could be similar to Sushiswap where x% of fees generated go to perform token buyback

Note: at launch, 10% of borrower’s interest will be stored in Alpaca’s treasury wallet. Later, the community will decide on its use."

ALPAnomics

(These percentages have been rounded to the nearest whole number for simplicity. The actual figures are 86.17%, 9.57%, and 4.26%)

Fair Launch Token Distribution

ALPACA will be released over a two years with a decaying emission schedule. In total, there will be 188 million ALPACA. To incentivize early adopters, there will be a bonus period for the first two weeks.

Below is our planned block reward schedule. Based on it, the circulating supply profile of ALPACA can be plotted.

Please note that the inflation rate drops off dramatically after the initial periods. In fact, the inflation rate will fall under 5% after 8 periods.

Development Fund

10% of the distributed tokens will go to funding development and expanding the team, and will be subject to the same two year vesting as the tokens from the Fair Launch Distribution.

Warchest

There is an allocation of 8 million tokens reserved for future strategic expenses. These include listing fees, audits, third party services, liquidity for partnerships, etc. These tokens are mined as required. In addition, 250,000 of those tokens were used to seed PancakeSwap’s ALPACA-WBNB pool. To avoid dilution to token holders, we’ve also implemented a restriction. No more than 200,000 tokens (~2.5% of the 8 million) can be withdrawn each month, with the only exception being if there is prior approval from a community vote.

How and Where to Buy Alpaca Finance (ALPACA)?

ALPACA has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy ALPACA

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step - Transfer your cryptos to an Altcoin Exchange

Since ALPACA is an altcoin we need to transfer our coins to an exchange that ALPACA can be traded. Below is a list of exchanges that offers to trade ALPACA in various market pairs, head to their websites and register for an account.

Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase ALPACA from the exchange.

Exchange: PancakeSwap

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once ALPACA gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com

Find more information ALPACA

☞ Website ☞ Explorer ☞ Whitepaper ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap

Would you like to earn TOKEN right now! ☞ CLICK HERE

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What is Alpaca Finance (ALPACA) | What is Alpaca Finance token | What is ALPACA token
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