|All Time High:|
|Market Cap: |
|The price of #ALPACA today is $0.30 USD.|
The lowest ALPACA price for this period was $0, the highest was $0.301, and the current live price for one ALPACA coin is $0.30061.
The all-time high ALPACA coin price was $4.28.
Use our custom price calculator to see the hypothetical price of ALPACA with market cap of BTC or other crypto coins.
|The code for Alpaca Finance crypto currency is #ALPACA. |
Alpaca Finance is 1.6 years old.
|The current market capitalization for Alpaca Finance is $46,043,244.|
Alpaca Finance is ranked #325, by market cap (and other factors).
|There is a big daily trading volume on #ALPACA.|
Today's 24-hour trading volume across all exchanges for Alpaca Finance is $3,525,815.
|The circulating supply of ALPACA is 153,166,846 coins, which is 100% of the total coin supply.|
State of the Farm — September 2022: Roadmap Update and New Product Announcement!
State of the Farm — September 2022: Roadmap Update and New Product Announcement! - Dear alpacas, Even though it’s crypto winter, our Herd continues to survive and even thrive. Why? Because we wear wool… … … … Today, we’ll update you on the latest fashions. We’ll first go over the state of the market and how the Alpaca Finance platform has been faring in it, then share news on all our initiatives, including new projects. — State of the Farm - While the entire DeFi industry has seen lower yields due to suppressed token prices and trading volume, Alpaca Finance continues to generate strong revenue because our products allow users to earn profits in all market conditions. Since the launch of our Governance Vault, we have paid out over $3Mn USD to Governance Vault stakers, with a current yield of ~20% APY. As you can see above, in this year, the bear market has barely touched the steady uptrend of our net revenue shared with users. Compared to other DeFi projects, we have also gained significant market share. Our TVL now ranks us in the top 20 of all DeFi protocols across all chains.Alpaca Finance ranks 18th in Total Value Locked (TVL) as of September 2022 (DeFillama) When others shake from the frigid market, we alpacas sweat from the heat of the yields burning holes in our pockets. Yet winter doesn’t mean it’s time to hibernate. When others go to sleep, we collect firewood, and though we’ve kept some of our projects in strategic stealth, our team has remained as busy as ever. Below, we’ll share information on what we’ve been working on and our upcoming roadmap. — 📈 Automated Vaults - We continue to test the new repurchase method. The result has been positive with the pilot vault (n3x-BNBBUSD-PCS1) outperforming the reference vault by ~40 bps (0.4%) since the beginning of the pilot period. Given that the pilot program has run for only ~3 weeks, this extrapolates to an extra ~7% APR (on an annualized basis). We have also just expanded the pilot to a BNB savings vault (l3x-BUSDBNB-PCS1.) Once we’re satisfied with the results, we’ll further roll out the pilot to 8x vaults. Our research team tentatively plans for a full rollout of the repurchase function in October if the results remain positive. It’s worth noting that even without repurchasing, most of our Automated Vaults have been performing well over the past month. In addition to the repurchase methods, we have been working on several new optimizations to make AVs more profitable. — 0️⃣Invest / Withdraw with ZERO swap fees. — Due to the high leverage nature of Automated Vaults, there is currently a corresponding swap fee from the DEX to create or close a position. However, with the recent code upgrades to allow for repurchasing, we now have a way to invest and withdraw from vaults with ZERO swap fees! This improvement means ZERO swap cost and ZERO price impact when investing in or withdrawing from AVs! Moreover, the $-limit per transaction will also be removed. All in all, this will be a major UX improvement, especially for 8x vaults, and it will result in higher yields for investors! The improvement will apply for both current and new positions, and will go live on 27 September, 2022 around 10 AM UTC. (During this upgrade, we will disable the invest / withdraw functions for about 1 hour. Your existing positions remain safe and there is nothing you need to do.) — ⏳ Emissions Adjustment - ALPACA emissions are scheduled to end in February 2023. Since launching the token, our published schedule has always been time-based. The reality of the blockchain, however, is that emissions are based on block propagation. That means that as time passes, there is often a growing discrepancy between actual vs. planned emissions for a token, and this has also been the case with ALPACA. So, in order to adhere to the planned schedule, we must make some adjustments to the emissions rate. Starting in October, the emitted ALPACA per month will be reduced relative to the prior schedule. The reduction will be gradual so as not to have a large impact on yields, and there are multiple positive aspects to this adjustment. The first is that for ALPACA holders, lower emissions means less selling pressure on the ALPACA token. Since this adjustment will not decrease the weekly burns, ALPACA will become more deflationary. The other good news is that unlike many DeFi platforms, the majority of yields on Alpaca Finance are real-yields from organic lending activity. ALPACA rewards do not constitute a large percentage of yields for lenders or borrowers, so this adjustment is insubstantial for lenders’ or borrowers’ APYs. You could say that’s the beauty of sustainability. And the beauty of LYF and AVs. Even, the beauty of alpacas. *Disclaimer: Unlike our yields, we cannot guarantee life outcomes if you choose to copy the above hairstyle. The new emissions schedule will be as follows: — 💼 Institutional Product - Creating a tailored platform for institutional clients has been something we’ve been working on for a long time. Our team brainstormed numerous ideas and went through many iterations while getting constant feedback from industry-leading institutions. The concept we chose to develop was a structured products platform with some innovative products, which had generated optimistic results from our market research and stakeholder feedback during our research phase between Q3 2021 and Q1 2022. After receiving that data, we moved along at full steam, and even hired a new team of 10 developers to work exclusively on this. However, following the market downturn in Q2 2022, we did new market research for the sake of prudence. At that time, the new data suggested that this institutional platform’s flagship product would not have a strong fit with the vastly changed demands of institutional customers during the newly emerged bear market. As a result, last month, we decided to pause the initiative mid-development. Yet, we believe there is still a lot of potential in the product concepts we created, and that sooner or later, we’ll be able to bring them to market in one form or another. The current status of the work on this institutional platform is that we’re waiting for market conditions to improve. At that time, we will re-evaluate the platform’s market potential, and seek a better timing for launching it. — 🎮Alpaca Gaming - Gaming has been a big part of our focus this year, although much has been done in stealth for reasons which we’ll elaborate on here. The good news is we’ve made much headway. On the studio structuring side, we’re halfway through finishing contract signings with an experienced game studio partner to add 20 veteran developers, artists, and game designers to our existing staff. In fact, they have already been working with us for weeks. They’ve been creating concept art of our character designs, which we plan to finish within 1–2 weeks, while we do market testing of the different character types and artstyles with potential players. After that’s complete, we will share the concept art with the Herd. This is currently scheduled for October. Our original staff at Alpaca Gaming has also been working on a full-scale mobile 3D prototype of our combat system and engine for many months, which is the core technical and UX part of our game, and we’ve made a lot of progress. We started playtesting with users a month ago and the feedback so far has been more positive than even we had expected. Next quarter, we’ll release a more accurate roadmap which will communicate when you can anticipate viewing various deliverables from the game. In the meantime, we wanted to thank you for your patience. We understand that our methodical approach isn’t what some of you may be used to in Web3. In Web3, game development usually happens in the order of (1)Throw up some concept art, (2)Raise funds, (3)Build the game as described. In most cases, this doesn’t work because game design is a very iterative process, full of creating, testing, failing and iterating. So committing to a vision right at the beginning often ends up being the wrong path. This is one of the reasons most Web3 games have failed. This is also why we don’t like to share info about our game or even art until we’re sure we’ll be going in that direction. The problem is that if users relate to a particular concept we’ve shared, and even vote with their funds to support it, they will inevitably be disappointed if there is a pivot from that concept. This has proven true time and time again in the gaming industry even if that pivot means a better, more sustainable game and return for their investment. Our approach is the type built around constant testing and improvements, which we’ve learned from studios like Zynga and Supercell through our advisors and experienced staff. So thanks again for your patience in giving us the time to build the best game we can, and supporting our goal of launching a Web3 game that’s actually super fun, and is capable of not only becoming the largest Web3 game, but maintaining that position for many years. As soon as we complete our contracts with the studio, which should be weeks away, we will share a new update article with you about the gaming side, which will have profiles of all our staff and advisors that have been working with us on this journey. The game studio we’re integrating with was chosen by us after many rounds of interviews with dozens of candidates, a process we’ve been actively working on since Q1 of this year. It’s a choice we’ve made extremely carefully, so we’re confident in the abilities of our staff, and you’ll soon see this yourselves in the concept art and the game we deliver. Now, that covers the initiatives we’ve publicized in the past. Below, we’ll announce what’s new! — 🙋Attracting more users to Alpaca Finance - Since there is arguably potential market share we can gain in other chains, we are always monitoring for good opportunities to go cross-chain. However, the current market is not conducive for an all-out expansion like we did on Fantom. Still, there are things we can do now to facilitate capital deposits from other chains into our existing platform. Our strategy for this has multiple parts… — 🌉Bridging assets to Alpaca. — We are working on adding a bridging widget to our in-app UI. The new widget will provide an easy way for users to bridge tokens from any EVM-compatible chain directly to BNB Chain & Fantom, all on Alpaca’s website. Following that, they’ll be able to deposit these funds in our products. This should help improve the conversion rate of user deposits in our platform and reduce drop-offs from users who don’t own any tokens on the chains we’re on. This will go live in October 2022. On top of that, we are also exploring “deep bridging” solution where users can do a “one-click” investing to zap any asset they hold directly into the asset they need to deposit into an Alpaca product that caught their eye😎. This effort will take longer as there are many security and UX issues to think through such as provision for gas and exceptions handling (transaction reverting due to slippage, etc). — 🏦CeDeFi License for wider initiatives. — As much as we’re woolish about DeFi, it’s a fact that our industry is still in its infancy. After all, the vast majority of people in the world, even including many who have held crypto or NFTs, have never used DeFi. Yet, many of these people are keen to utilize products that lack centralization risk (it’s no fun when you can’t withdraw) and most importantly —can provide higher returns than banks and other institutions. In summary, there is a huge untapped market. That’s why in the longer term, we see a colossal opportunity in onboarding users from outside the currently small DeFi communities. To reach this goal of activating these potential users, we’ve started working on some initiatives in product strategy and marketing. These are still in the early stages, but we’re also taking more immediate steps. The biggest one is that we are currently applying for a financial license in a tier-1 country in preparation for these initiatives. This license will facilitate our future endeavors, and better signal our legitimacy to non-DeFi users and institutions. As for the existing Alpaca platform’s products and users, this license will not change anything. The platform will remain fully decentralized and will not fall under any new oversight. The license is primarily for the new products we are exploring, and can only add value to the Herd when we launch them. — 🌈Announcing a new product — Perpetual Swaps - Since its invention by Bitmex in 2016, Perpetuals (futures contracts w/o expiration) have been very popular in the crypto space. In the past, Perps have mostly been offered and traded on CEXs, but recently, DEX versions of Perps have gained traction in the DeFi space. Given our userbase’s high level in DeFi knowledge, and our developers’ deep experience with leveraged products, we believe offering Perps would be a natural extension of our offerings and will complement our current product suite greatly. So we’ve decided to prioritize this as the next major product release! Our goal is to launch a safer and cheaper platform than what’s currently on the market, and ideally, create synergies between perps and AVs & LYF to develop second-stage products. We are currently in the process of scoping the product requirements and features, and will make a formal announcement in the near future with more details. We’re excited about it and hope you are too, so please stay tuned.😙 As always, we thank you for you continued support. Please follow us on Twitter for the latest updates. If you have any ideas or suggestions, please visit our Forum to discuss them with your fellow alpacas. As for us, with the targets pointed out on the treasure map, we’re already sailing towards them. As we navigate the massive DeFi ocean together, you can rest assured that we senior alpacas are well equipped to take on any challenges and bring home legendary treasure! All fur one! One fur all! State of the Farm — September 2022: Roadmap Update and New Product Announcement! was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
Alpaca Finance Institutional Newsletter #6
Having made a landmark statement made against the Ethereum network, US regulators continue to encircle separate areas of the crypto market. Through leaked documentation in the long-forgotten case of ICO-promoter Ian Balina, it was found that the SEC had stated that due to the clustering of ETH transactions being validated on US soil post-merge, the SEC believes it has oversight over the entire Ethereum network. This could put ETH firmly in the crosshairs of the SEC, which is becoming increasingly assertive and may look to wield the Howey Test as a regulatory sniper rifle. In parallel, a draft stablecoin bill and ongoing CBDC analysis clearly illustrate the top priority of US regulators, which is increased control. Yet, despite or perhaps due to the increased regulatory activity, large banks continue to announce products that will set the foundation for institutional and retail adoption. This week, Nasdaq announced the preparation of a custody solution and French multinational Societe Generale launched a similar service for crypto fund managers. Reading between the lines, our industry seems to be betting on the emergence of a clear set of regulatory guidelines that will enable companies to tap into pent-up demand, which to date has had no satisfying onramp into the crypto markets. — News. — Ripple, SEC case heads for conclusion after ‘summary judgment’ filed, Coinbase enters the Netherlands with central bank approval, White House OSTP department analyzes 18 CBDC design choices for the US, Nasdaq reportedly preparing crypto custody services for institutions, — Regulation. — SEC lawsuit claims jurisdiction because ETH nodes are ‘clustered’ in the US, British regulator lists FTX crypto exchange as ‘unauthorized’ firm, US Treasury plans to ask the public if crypto-related regulations are ‘no longer fit for purpose, Draft US stablecoin bill would ban new algo stablecoins for 2 years, — Products. — Metaverse firm implements NFTs into its Minecraft and GTA 5 servers, Societe Generale launches custodial services for crypto fund managers, Staking providers could expand institutional presence in the crypto space, Colorado is now accepting tax payments in cryptocurrency, as Gov. Polis promised, — Funding. — FTX in talks with investors to raise $1B for further acquisitions, GEM Digital commits $50M to ParallelChain Lab for L1 protocol development, Crypto bug bounty platform Immunefi raises $24M led by Framework Ventures, Japanese banking giant Nomura launches digital ecosystem VC arm, Follow this medium account to get notified when we release more of this newsletter. To learn more about Alpaca Finance, you can visit our official communication channels: Website · Telegram · Twitter · Discord Alpaca Finance Institutional Newsletter #6 was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
Alpaca Finance Institutional Newsletter #5
In headline news this week, the founder of Terra Do Kwon, who saw a spectacular fall from grace, has been served his first formal legal challenge by his home nation of South Korea. In truth, most expected this to come sooner considering that when the algo-stablecoin fell into a death spiral, the $40B+ dollar meltdown affected predominantly retail users. Major players are pushing further into Web 3, most notably Starbucks which is tapping Polygon to support an NFT-focused overhaul of their loyalty program. Others such as Fidelity announced a potential retail offering expanding crypto services to 34M customers and KKR tokenizing a health-specific fund on Avalanche. On the regulatory front, Canada could see more favorable regulations in the near term future with the pro-crypto politician Pierre Poilievre winning the CPC leader spot, with some seeing him as a natural successor come the next federal election. — News. — The Conservative Party of Canada Elects Pro-Bitcoin Leader Pierre Poilievre as Party Head, Fidelity Considering Offering Crypto Trading to Brokerage Customers, Investment Giant KKR Puts Portion of Private Equity Fund on Avalanche Blockchain, Crypto Custody Firm BitGo Files $100M Lawsuit Against Galaxy Digital for Breaching Merger Agreement, — Regulation. — First Guilty Plea in Coinbase-Related Insider Trading Charges, South Korean Court Issues Arrest Warrant for Terra Co-Founder Do Kwon, Thailand’s SEC Bans Crypto Firms From Offering Staking and Lending Service, SEC’s Gensler Signals Extra Scrutiny for Proof-of-Stake Cryptocurrencies, — Products. — Starbucks to Offer NFT-Based Loyalty Program Using Polygon’s Blockchain Technology, Bored Ape NFT Band to Make Music With Beyoncé, Timberlake-Linked Producers, DeFi Lender Compound Takes Bite of Institutional Crypto Loans Pie, Fortnite Developer Epic Games’ Marketplace Lists First NFT Game, — Funding. — Blockchain Supporter NEAR Unveils $100M VC Fund Targeting Web3 Culture and Entertainment, NFT Collection Doodles Raises $54M at $704M Valuation, JPMorgan Backs $20M Round for Blockchain Infrastructure Startup Ownera, Venture-Capital Firm Northzone Raises $1B Fund for Fintech, Web3 Investments, Follow this medium account to get notified when we release more of this newsletter. To learn more about Alpaca Finance, you can visit our official communication channels: Website · Telegram · Twitter · Discord Alpaca Finance Institutional Newsletter #5 was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
Alpaca Finance Institutional Newsletter #4
Large corporations continue their push into various sectors of Web 3, but the question of market readiness persists. One major event was the NBA launching NFT fantasy-based basketball with Sorare, which many will be observing as a real-time case study to understand if NFTs will continue to scale as a value add to sports markets. Another event of note was LG tapping Hedera for an NFT marketplace instead of Ethereum, which raised eyebrows but arguably makes sense for them. Yet, as the people do their busy-work on the ground, the sky overhead grows ever more cloudy. Last week’s regulatory pressure is progressing, with exchanges under continued pressure from local authorities. It does not seem to be scaring off sizeable deal flow, however. Major L1 fundraising rounds from Aptos and now Mysten Labs, have the crypto industry on tenterhooks to see where they will find traction and if they are following the Solana playbook. — News. — Binance, Issuer of Third-Biggest Stablecoin, to Stop Supporting Larger Rival USDC, 3 Senior Executives Jump From Crypto Lender BlockFi, Blockchain Australia Lands Former BlackRock Director as New CEO, Crypto Exchange Binance Hires Former Brazilian Central Bank President as Adviser, — Regulation. — Crypto Exchange Bybit Barred From Brokering Securities in Brazil, Thai SEC Files Police Complaint Against Crypto Exchange Zipmex, Canadian Crypto Exchange Coinberry Files Lawsuit Against 50 Users After Losing 120 BTC, Fed Vice Chair Brainard Calls for Crypto-Specific Regulations, Notes Stablecoin Risks, — Products. — LG Shuns Ethereum, Picks Hedera for Television NFTs, NBA to Develop NFT-Based Fantasy Basketball Game With Sorare, Investment Management Giant Franklin Templeton to Offer Digital Asset Strategies to Wealth Managers, There’s a New Platform for Bitcoin-Backed Borrowing and It’s Courting Banks to Lend, — Funding. — Crypto Investment-Product Firm 21Shares’ Parent Raises $25M, Pushing Valuation to $2B, Crypto Startup Mysten Labs Raises $300M From Industry Heavyweights at $2B Valuation, Crypto Startup Slide Raises $12.3M to Connect New Users to Web3 Apps, Follow this medium account to get notified when we release more of this newsletter. To learn more about Alpaca Finance, you can visit our official communication channels: Website · Telegram · Twitter · Discord Alpaca Finance Institutional Newsletter #4 was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
Alpaca Finance Institutional Newsletter #3
NFTs led the news cycle this week with considerable steps being taken by major players in ticketing and global investment management. Ticketmaster, which has a near monopoly on event ticketing, will pilot NFTs for live events. Singaporean-based global investment manager Temasek is leading Aminoca Brands’ 100M round, arguably the largest player in NFT and Gaming. Through its impressive TMT portfolio, Temasek may reach massive segments not yet permeated by Web3 companies. Crypto and DeFi followed the path of further institutionalization with regulatory bolstering led by FTX and Galaxy Digital, all under the watchful eye of the FBI as it requests increased security measures for DeFi investors. With week-on-week regulatory headlines, it is hard not to envision a scenario where many state-side blue-chip DeFi protocols will be wrapped under an existing or soon-to-be-developed regulatory framework. — News. — Indonesia’s Biggest Tech Firm Enters Crypto With Purchase of Local Exchange, S. Korean City Busan Taps FTX to Develop Crypto Exchange, Promote Blockchain Businesses, Crypto Financial-Services Firm Galaxy Digital Hires Andrew Lace for Its London Trading Division, Credit Suisse Held $31M in ‘Digital Assets’ for Clients Last Quarter, FTX.US Derivatives Deepens Board With Addition of Ex-CFTC Commissioner, — Regulation. — FBI Asks DeFi Platforms to Increase Security Measures, Warns Crypto Investors Against Vulnerabilities, Crypto Lender Hodlnaut Placed Under Interim Judicial Management by Singapore Court, Coinbase Gets Hold-Equivalent Rating From Barclays on Crypto Regulatory Risk, — Products. — Crypto Custody Technology Firm Fireblocks Adds Support for Solana Blockchain’s DeFi, NFT, Gaming Apps, Ticketmaster Partners With Blockchain Firm Dapper Labs to Issue NFTs for Live Events, Brazilian Crypto Asset Manager Hashdex Authorized to List ETPs in the European Union, — Funding. — Crypto.com Pulls Plug on $495M Champions League Sponsorship Deal, NFT Collective Proof Raises $50M in Funding Round Led by a16z, Stacked, the Web3 Version of Twitch, Raises $12.9M, Temasek to Lead $100M Funding Round in NFT and Metaverse Investor Animoca Brands, Follow this medium account to get notified when we release more of this newsletter. To learn more about Alpaca Finance, you can visit our official communication channels: Website · Telegram · Twitter · Discord Alpaca Finance Institutional Newsletter #3 was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
August 2022 Recap
In August, we continued to add new leveraged yield farming pools to our platform. On top of that, we also improved Automated Vaults by introducing the repurchasing strategy which is currently piloted on the n3x-BNBBUSD-PCS1 vault. We also added another Grazing Range partner, boosting yield for those who staked ALPACA in our Governance Vault. Alpaca Finance has also climbed in the the DeFi TVL ranking at DeFillama to the 20th rank (from 26th last month). We published our first Institutional Newsletters where you can read the summary of major headlines in the crypto market related to regulations, products, and funding. The newsletters will be published weekly. You can check out the first two editions, Edition 1 and Edition 2, which were released in August. The Alpaca Gaming Q&A Video now includes subtitles for 18 languages. Read below for the details of our developments this month. — 🌾New Lending Pools and Farms - In August, we added two new farms to the platform: STKBNB-BNB (4x, PancakeSwapV2, BNB Chain) earning 37%+ APY, pSTAKE-BUSD (2x, PancakeSwapV2, BNB Chain) earning 389%+ APY, With this recent Grazing Range partnership, leveraged yield farmers on the two new pools will be able to earn an additional ~200k USD in PSTAKE bonus rewards which will be distributed at the end of the eight-week campaign period. You can read more details here. We will continue to add new farms with our existing DEX partners (PancakeSwap, MDEX, BiSwap, SpookySwap) and future ones too. — 🏦 Automated Vaults - In August, we started piloting a major improvement on the Automated Vaults by introducing Asset Repurchasing. Normally, the vault will have to swap the token through DEXs (e.g. Pancakeswap, Biswap) which will incur a price impact and 0.25% swapping fees. Now, with repurchases, AV investors will benefit from lower swap fees, no price impact on large swaps, and more frequent rebalancing. The repurchaser who swaps the vault’s assets can benefit by doing an arbitrage strategy — i.e., buying an asset from the AV(with less than 0.25% swap fess) and selling on CEXs. We are currently piloting the repurchase method on the Market Neutral BNB-BUSD PancakeSwap (n3x-BNBBUSD-PCS1) vault. This particular pool’s performance will be monitored closely, and once the new method has been verified to work as expected, we will roll out the implementation to other remaining vaults. You can read more here. — 🔥 ALPACA Buyback&Burn - Each week, we share our revenue and ALPACA buyback & burn statistics on Twitter. In August, a total of 1,445,552 ALPACA (~$385,000) was burned over 4 weeks, or an average of 361,388 ALPACA per week. The total cumulative burn is now ~25.5 million ALPACA (13.6% of total supply). ALPACA has been deflationary for 35 of the last 42 weeks. We hope to again refer our readers to this article by a community member, explaining ALPACA’s deflationary nature and how it will lead to a natural rise of the ALPACA token’s price over time. — 🗽 Alpaca Governance - Any user can stake ALPACA in the Governance Vault to (1)earn a share of our platform’s revenue, (2) earn ALPACA emission rewards, (3)get Grazing Range rewards, (4)receive xALPACA to vote on Alpaca Improvement Proposals (AIPs), and (5)have private access to high leverage (>4x) Automated Vaults. Currently, users can earn 22.8% APY on the BNB Chain and 23.6% APY on Fantom. In total, 51.1% of circulating ALPACA has been locked (up from 49.3% last month), and we have paid over >$2.9 Mn to ALPACA governance stakers. Read all about Alpaca Governance in our Part 1 and Part 2 Medium articles or visit our docs’ Governance section. Our Discord now has a private channel for xALPACA holders where governance members can discuss topics and discover/share alpha. There is a bot automating membership and the minimum required to gain entry is 100 xALPACA in a wallet. Grazing Ranges: Users who stake ALPACA in our Governance Vault can earn Grazing Range tokens. Grazing Range tokens are tokens of protocols we have partnered with (bold indicates new partners this month): 23,300 PSR (~$90k USD; from 6/30 to 8/25), 55,550 HIGH (~$90k USD; from 7/28 to 9/22), 980,000 PSTAKE (~$200k USD; from 8/11 to 10/6), Users who stake at least 500/5000/50,000 xALPACA (3 tiers) during the first 4 weeks of a Grazing Range campaign can earn a Grazing Range NFT. In August, the HIGH (Ext.2) NFT became claimable on Project Galaxy. Details of each Grazing Range campaign are available on our Medium. — 👨👨👧👦 Community Events - We host several community events each month, where users can earn NFTs, community badges, and tokens. We make these events easy to participate in, so spend a few minutes to claim these rewards! In August, we had an AMA session with the Bitget community and gave out some NFTs during the session. You can check your eligibility here. — Alpaca of the Month - Congratulations to the community members — Dominator008, Enddypaca, Chip, GD, and Linh Dep — for winning Alpaca of the Month for July! They received these great custom avatars from @MerZair: To win Alpaca of the Month, just be active in our Discord or Telegram, helping other users or contributing to the community. Details are here. — 📃 Platform & UI/UX Updates - We delivered some UI/UX improvements this month: Long/Short messages when opening 2x farm position now show “Neutral” exposure, Fixed Stake page bugs and added Stake/Unstake, Improved text in content & tooltips on Alpies NFT Staking & other pages, Improved load time of P/L charts on AV Invest pages, stkBNB-BNB and $PSTAKE-BUSD farmers can now check their earned $PSTAKE rewards, — 👨👨👦 Twitter Spaces Fireside Chats and Podcasts - We released 2 podcasts in August. Listen to insightful thoughts on key blockchain developments with our Head of Strategy and Marketing Sam and our Head of Institutional Growth Pete: 24th Fireside Chat (August 10th, 2022) — CeFi Situation, Tornado Cash Ban, Coinbase Deal with Blackrock, Solana Hacking Incident, NFT space at the moment, ETH PoW vs PoS after Fork, the flow of Capital in crypto, New Rebalacing Strategy for AV, and Alpaca Gaming., 25th Fireside Chat (August 25th, 2022), Tornado Cash Incident Development, Solana’s Dev Faking Activities, NFTs, BendDAO, Dogechain, FEI, ACALA Situation, and Q&A on Alpaca., — ❤️ Charity - We are happy to announce that with the donation of $8.9k to Llama Sanctuary, a not-for-profit dedicated to caring for homeless, sick, and neglected llamas an alpacas located in Canada, Alpaca Finance has now donated all the donation funds from Alpies sales revenue. The total donated amounts came out to $270,100. This effort could not happen without the Alpies holders. Thank you for your contribution and supporting a good cause. — 📰 Other News - In August, Alpies Holders were whitelisted by two NFT projects Myth.Art, NFT IP Distribution Platform, Ziggyverse, NFT project with an in-game utility, Dauntless Alpies has been listed on NFTKEY Marketplace — twitter.com Alpaca Finance’s Leveraged Yield Farming was introduced on Biswap’s Education Hub — twitter.com DEFIYEILD.app, a notable Asset Management Dashboard, presented the Ultimate AlpacaFinance Yield Farming guide — Feedback - We greatly value our users’ feedback, which you can give at: docs.google.com — Next Steps - We will continue to build and meet the list of goals detailed on our roadmap. The upcoming updates that you can look forward to include an expansion of the Repurchase Strategy on AV and Alpaca Gaming updates. We announce updates on our Twitter first, so follow us and be the first to know! August 2022 Recap was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
Alpaca Finance Institutional Newsletter #2
During the Jackson Hole summit, the Fed’s hawkish statements saw crypto markets breaking below the $1 trillion total market cap milestone for the first time in a while, signaling there may be more uncertain times ahead of us. Regardless of the market headwinds though, under the surface, prominent players are positioning themselves for power in various ways. Global traditional and investment-focused banks are making key personnel and business acquisitions, indicating to the market their beliefs about the importance crypto will play in the short-term future. However, the knock-on effect of bad actors is keeping centralized entities under scrutiny, which will likely continue until large insolvencies such as Three Arrows Capital and Celsius come to resolutions. Even so, funding remains strong with more tradfi announcements such as public listings and SPAC deals, alongside the seemingly weekly 8-figure Web3 announcement. — News. — Ethereum Could Get Kicked Off Cloud Host That Powers 10% of Crypto Network, Crypto Exchange Binance to Help S. Korean City of Busan Develop Its Blockchain Industry, Investment Bank Cowen Nabs 2 Crypto Hires for Digital Asset Team, Cboe Digital Names Jump Crypto, Robinhood and DRW Among Expected Equity Partners, FTX Posted $1 Billion in Revenue Last Year Amid Crypto Rally, — Regulation. — Australia to Use ‘Token Mapping’ as Framework for Crypto Regulation, Crypto Exchange CoinSwitch Kuber Searched by Indian Authorities, Celsius Depositors Fracture Again on Legal Strategy as ‘Withhold’ Group Lawyers Up, Singapore High Court Recognizes Three Arrows Capital Liquidation Order, — Products. — Reddit Starts Airdrop of Polygon-Based ‘Collectible Avatars’, Coinbase Adds Nano Ether Futures to Derivatives Platform for Retail Traders, China’s Ant Group to Work With Malaysian Investment Bank Kenanga on Crypto ‘SuperApp’, Wall Street Giant DTCC Launches Private Blockchain in Big Crypto-Milestone for TradFi, — Funding. — Siam Commercial Bank Scraps $500M Purchase of Stake in Thailand’s Largest Crypto Exchange, Crypto ATM Operator Bitcoin Depot to List on Nasdaq in $885M SPAC Deal, Animoca Brands’ Japan Unit Raises $45M for NFT Licensing, Investment, Polygon Founder’s Crypto VC Firm Raises $50M Fund, Follow this medium account to get notified when we release more of this newsletter. To learn more about Alpaca Finance, you can visit our official communication channels: Website · Telegram · Twitter · Discord Alpaca Finance Institutional Newsletter #2 was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
Automated Vaults Improvement Plan
Dear Alpacas, The past few weeks have seen crypto markets becoming more stable, with less volatility and a general rise in the asset prices of major tokens, which has resulted in better performance for our Automated Vaults. However, we senior alpacas have been hard at work with our engineering and research teams, exploring different ways to improve the Automated Vaults’ performances. After many long discussions, simulations, and backtests, we‘re happy to announce that we now have an implementation plan which we’re confident will drastically improve the performance of AVs. For those in the Herd that are not familiar with how the Automated Vaults currently work, you can read this first before diving into the details of this article. — 📈 Challenges with the Current Automated Vaults. — In order to maintain the desired exposure level on an asset (e.g., 0 exposure on the market-neutral vault), a vault needs to rebalance its positions periodically when its asset prices move. Every time a rebalance transaction occurs, a vault incurs 1) trading fees & price impact from swapping on a DEX; and 2) equity impact from realizing the impermanent loss (IL). These two expenses from rebalancing are the biggest costs when running AVs. Deciding when to rebalance is a balancing act (no pun intended 😄.) By setting a narrow threshold (i.e., rebalancing often), the swap amount required would be low which means lower trading fees and price impact incurred. Unfortunately, frequent rebalancing risks unnecessarily realizing IL if the asset price retraces back after the rebalance. On the other hand, if the rebalance threshold is wider (i.e., less frequent rebalance), the IL and the swap amount required per transaction could be exponentially larger, but you pay the costs less often. To overcome this challenge, for the current implementation, the team ran multiple backtests using actual historical data to determine the optimal threshold for triggering a rebalance. However, market conditions and asset price behaviors change over time, and it’s possible a threshold eventually becomes sub-optimal. The current lower-yield environment also makes the issue even more crucial as the margin to operate AVs profitably has become more compressed. What if there is a better way to solve these issues? — 💸Introducing Asset Repurchasing. — Instead of swapping assets on a DEX, incurring price impact and the 0.25% swap fees, we will allow a “repurchaser” to trade directly with the assets in our vaults without facing these fees. To clarify what a repurchase transaction will look like, let’s walk through an example: 1.) Assuming a 3x BNB-BUSD market-neutral vault currently sits at a net zero-exposure state: BNB price: $300, Position value: 100 BNB + 30,000 BUSD, Debt value: 100 BNB + 10,000 BUSD, Net Exposure: 0 BNB ; long 20,000 BUSD, 2.) Let’s say BNB price then moves up 20%, the state becomes: BNB price: $360, Position value: 91.29 BNB + 32,863 BUSD, Debt value: 100 BNB + 10,000 BUSD, Net exposure: Short 8.71 BNB; Long 12,863 BUSD, 3.) We see now that the vault has a short exposure of 8.7 BNB. With the repurchase logic, the vault would allow a repurchaser the ability to give the vault 8.7 BNB in exchange for BUSD. In other words, in a repurchase for this position, the vault will create a buy order for 8.71 BNB in exchange for 3,136 BUSD. The acquired 8.71 BNB will be used to partially repay back debt while the 3,136 BUSD given to the repurchaser(in exchange for the BNB) would be borrowed from the vault. 4.) Let’s look at the new state of the vault after the repurchase tx Repurchase tx: BUY 8.71 BNB for 3,136 BUSD, Position value: 91.29 BNB + 32,863 BUSD (unchanged), Debt value: 91.29 BNB + 13,136 BUSD, Net exposure: 0 BNB ; Long 19,727 BUSD, We can see that the net exposure on BNB has become zero, and the pool is balanced again! An interesting point to note here is the transaction only involves a change in debt denomination. During the transaction, we did not have to touch the farming LP at all and it remained unchanged. The benefits of this repurchasing system to AV investors will be: Lower swap fees: a configurable bounty fee offered to the repurchaser will be significantly lower than the 0.25% a vault currently pays for swapping on a DEX. Repurchasers will even be able to arb between ALPACA’s AVs and CEXs., No price impact on large swaps: In addition to lower swap fees, we will not incur any price impact when doing a repurchase tx. The price offered to repurchasers will be a flat price base on an Oracle feed., More frequent rebalancing: given the lower tx cost, the repurchase transactions could happen more frequently making the vault performance more consistent. More frequent rebalancing generally means a lower aggregate IL cost., All of the benefits above will have a direct impact on improving the AVs APR%. We have ran backtests with the new repurchase method, which show markedly improved results: Compared to the current rebalance method, the return from repurchasing is stabler and more profitable. Even during the period of extreme volatility during May-June, repurchasing would have been profitable. You might now ask, “but who will be the repurchasers and why would anyone want to be a repurchaser?” Those are very good questions, young alpacas! A repurchaser could benefit from this scheme by setting up hedging operations on centralized exchange which execute in combination w/ the repurchase tx on AVs. E.g., sell 8.71 BNB to AVs while at the same time buy 8.71 BNB on CEX, to earn the bounty fee. Many arbitrageurs and keepers already have similar operations., By providing a small discount on an asset’s price to a repurchaser, the repurchaser can realize a small gain after operating costs (gas fee, infra, etc.), Even in the case that a repurchase does not execute, the rebalancing system AVs use currently will act as a second layer. What this means is each vault’s performance, at worst, would be the same as now. So as long as the repurchase bounty is < 0.25% + price impact (the rate AVs currently pay by swapping on DEX ), it is a definite win scenario for AVs. Based on our backtests, a bounty of 0.1% seems to be a reasonable value for repurchasers. This value represents a 60%+ reduction in swap fees!, Initially, during piloting and testing, the Alpaca team itself will set up a repurchase operation which will involve hedging on a CEX. So there will always be a repurchaser available., — 🚀Launch Plan. — We will pilot the new repurchasing method on the Market Neutral BNB-BUSD PancakeSwap (n3x-BNBBUSD-PCS1) vault. Repurchasing operation will go live around 25th August 2022. During the pilot, the repurchase logic described above will be implemented only on this vault. Since there are two pools currently running the same strategy on the same underlying LP pool (i.e., PCS1 and PCS2) we will be able to compare the relative performance between the new repurchasing method vs. the current rebalancing method. We will be closely monitoring the vault’s performance and fine-tuning our operations during this time. Once it’s been proven that the repurchasing method is beneficial, we will roll out the implementation to the remaining vaults. — ❓FAQ. — Q: Are my funds safe? Do I need to do anything? A: You do not need to do anything. Your funds will be safe in all vaults. But if you feel uncomfortable about the repurchasing pilot, and have funds deployed in the n3x-BNBBUSD-PCS1 pool, you can temporarily withdraw and redeposit assets into another vault while waiting for the pilot’s outcome. Q: How long is the pilot program? A: We expect we’ll run the pilot for ~4 weeks before rolling out the improved system onto the other pools. We understand many of you have been eagerly waiting for such an improvement and we thank you for your patience and support. As our products become more sophisticated, any changes and fixes take correspondingly more effort, because as always, we put the security of your funds first. For more updates on repurchasing and other news, you can follow us on Twitter. Automated Vaults Improvement Plan was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
Alpaca Finance Institutional Newsletter #1
Polarizing news stories have dominated the headlines providing a difficult time for anyone looking into their crystal ball to speculate on the general direction in crypto and DeFi. Further insolvencies and restructuring, primarily from centralized exchanges, and governmental probes have cast a dark shadow against the backdrop of a less than desirable macro condition. At the same time, we have seen the largest crypto raise ever from Brevan Howard and a $450M fund III close for Variant Fund. A recent market survey cited ~20B of dry powder earmarked for crypto markets over the coming years from the top 15 largest funds. If that wasn’t enough, Blackrock partnered with Coinbase to initially offer direct BTC exposure to their clients. — News. — Coinbase partners with BlackRock to create new access points for institutional crypto investing, German Crypto Exchange Nuri Files for Insolvency, Institutional Investors Are Increasingly Using Crypto Options Trading to Hedge Their Bets in Bear Market, Energy Web Token Jumps 25% After BlackRock Gives Decarbonization Project a Shoutout, — Regulation. — Crypto.com Receives South Korean Regulatory Licenses After Buying Local Firms, Cathie Wood Says Ark Sold Some Coinbase Due to Uncertainty on SEC Probe, Senator Warren proposes reducing Wall Street’s involvement in crypto, UK parliamentary group calls for submissions in new crypto asset inquiry, — Products. — Amber Group Brings Retail Trading Platform to Brazil, Reddit Expands Community Points Offering With FTX Pay Integration, CME Group plans to launch euro-denominated Bitcoin and Ether futures, Reserve Bank of Australia Starts Pilot to Explore CBDC Use Cases, — Funding. — Brevan Howard Scores Largest Crypto Hedge Fund Launch Ever, VC fund Variant raises $450M, Crypto Intelligence Platform Messari Plans to Raise $35M at $300M Valuation, Abrdn Buys Stake in Digital Exchange Archax, Follow this medium account to get notified when we release more newsletters like this. To learn more about Alpaca Finance, you can visit our official communication channels: Website · Telegram · Twitter · Discord Alpaca Finance Institutional Newsletter #1 was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
Grazing Range Pool#55 — Welcome PSTAKE to the herd!
Grazing Range Pool#55 — Welcoming pSTAKE to the herd! - Dear alpacas, We senior alpacas are excited to welcome our newest addition to the range — pSTAKE Finance. With this partnership, all you alpacas will be able to open leveraged yield farming positions up to 4.0x on Pancakeswap’s stkBNB-BNB and 2.0x PSTAKE-BUSD pair, which currently yields ~61.8% and ~77.5% APR in CAKE Rewards respectively! The pool will go live on August 10th, 2022 around 12.30 PM GMT. As part of the Grazing Range program, you’ll also be able to earn $200k USD in PSTAKE rewards by staking ALPACA in the governance vault, which will be distributed over 8 weeks. Additionally, leveraged yield farmers in the stkBNB-BNB and PSTAKE-BUSD pool will also receive 200k+ USD bonus in PSTAKE and ALPACA rewards, on top of the leveraged yield farming rewards and trading fees. — 🎁Benefits to Leveraged Yield Farmers - Leveraged yield farmers will be able to earn ~200k USD in PSTAKE bonus rewards which will be distributed at the end of the eight-week campaign period. The rewards will be distributed as follow: 490,000 PSTAKE(~$100k USD) will be distributed to users that open LYF positions on the stkBNB-BNB pair., 490,000 PSTAKE (~$100k USD) will be distributed to users that open LYF positions on the PSTAKE-BUSD pair., Your personal rewards allocation will be based on your debt value relative to the entire debt of all borrowers farming the pair. Like usual, you’ll be able to open and close your positions any time during the eight-week period, but rewards will only accrue while your stkBNB-BNB or PSTAKE-BUSD position is open.For leveraged yield farmers, you’ll still be entitled to ALPACA rewards from opening a position on stkBNB-BNB and PSTAKE-BUSD. As usual, you’ll be able to claim your ALPACA rewards at any time, but the PSTAKE rewards will be claimable at the 8-week period. Leveraged yield farming for stkBNB-BNB and PSTAKE-BUSD will open on Aug 10th, 2022 around 12.30PM GMT., Bonus PSTAKE rewards will run for 8 weeks ending on Oct 6th, 2022 at 10 AM GMT., Users will be able to claim the bonus PSTAKE rewards at the end of the 8 weeks period on our Claim Page. In other word, you can claim the PSTAKE rewards once the campaign end around Oct 6th, 2022., — 🎁 Grazing Range Reward Details - Total Rewards: 980,000 PSTAKE (~$200k USD) PSTAKE Token: 0x4C882ec256823eE773B25b414d36F92ef58a7c0C Rewards Period: 8 weeks Rewards Start Date: August 11th, 2022 Rewards End Date: October 6th, 2022 Distribution Schedule: — Exclusive NFT Cards for Pool’s Stakers - To be eligible, you must stake ALPACA in the governance vault during the first 4 weeks of the Grazing Range campaign starting from before Aug 11th 00:01 UTC until at least September 8th. The NFT tier you receive will be based on the amount of your xALPACA balance during that entire period. (Since xALPACA balance naturally decreases over time, make sure to watch yours) Green Tier: held at least 500 xALPACA, Silver Tier: held at least 5,000 xALPACA, Gold Tier: held at least 50,000 xALPACA, — About pSTAKE Finance - pSTAKE is a Liquid staking protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive staked underlying representative tokens (stkASSETs) which can be used to explore additional yield opportunities across DeFi. pSTAKE’s liquid staking solution for $BNB will go live on 8th August 2022. At present, pSTAKE supports Cosmos ($ATOM), Persistence ($XPRT) and Ethereum ($ETH) networks’ native tokens, with a view to support more chains and assets in the future. — 🔒Security Scorecard on PSTAKE - Have the contracts been audited by professional auditing firms? Protocol security is of the highest priority for pSTAKE. The stkBNB smart contracts have been audited by Peckshield and Halborn, who are among the most reliable auditors in the BNB ecosystem. The Certora team has performed formal verification for the most critical smart contracts for pSTAKE. pSTAKE has also set up Forta bots for continuous on-chain monitoring of user activity. What is the project’s inception date? The stkBNB product is expected to go live on 8th August. Has your project even been involved with a hack or exploit? No, we have never been involved with a hack or exploit. What safety measures are in place to secure your protocol from centralization risk? What contracts are not under timelock? Who has multi-sig? All admin roles in the protocol are controlled by a multisig with important team members as the signers. The team has implemented two multisigs to ensure quick action can be taken in case the members of one multisig are not available. Timelock functionality is present for any change in admin multisig members, and an emergency shutdown function for the smart contract. Does your token have a maximum supply cap? The stkBNB token is minted only when a user deposits a BNB token to the pSTAKE smart contract. stkBNB does not have a fixed supply and the supply will be driven by BNB staked by users. - $PSTAKE token, the governance token for pSTAKE protocol which will be used for incentivisation of users, has a total genesis supply of 500 Mn. Mint function. If your token does not have a maximum supply, how is the mint function controlled? Users will be issued stkBNB based on an exchange rate model, inspired by Compound’s cToken model. The value of stkBNB will keep increasing against BNB as it accrues staking rewards in the background, which will be reflected in the exchange rate (c-value). The mint will happen only when the contract receives BNB deposits. Centralized treasury. If the protocol collects fees, where do they go and how are they controlled? Is there any kind of treasury or insurance fund under centralized control? pSTAKE protocol charges a share of staking rewards earned. The fees go to a Fee Vault contract that is only accessible by the admin multisig. The protocol has waived the transaction fee for the first three months for early adopters on the platform. Migration Function. Is there a migration function in the code? Why is this there and how to control this function from making a malicious action? There is no migration function for our contract. Upgradeable contracts. Are the contracts upgradeable? Why is this there and how to control this function from making a malicious action? Yes, the contracts are upgradable to ensure that the contracts can be changed in future for further feature additions or in case of any bug/issue with the contracts. To ensure security for the function, the deployer keys are securely stored in AWS infra and any access is monitored by an audit log. Third-party risk. What underlying external parties do your contracts rely on? The contracts do not rely on any third party. Where is your token currently listed? stkBNB will be listed on two of the major DEXs in the BNB ecosystem after the launch. The PSTAKE token is listed on DEXs in Ethereum (Sushiswap) and the Cosmos (Osmosis) ecosystem, and will soon be available on DEXs BNB chain ecosystem. It is also listed on multiple CEXs (Complete list available here). Please briefly describe the utility of your tokens and all the relevant tokenomics (e.g., burn, staking, locking, etc.). $PSTAKE holders can participate in the protocol’s governance and protocol improvement proposals to ensure the long term security of the protocol. In the long-term, the $PSTAKE token will be used to incentivise the core contributors of the pSTAKE ecosystem. $PSTAKE will also be used as a dis-incentivization token in case stakeholders (validators) staking the token act maliciously or are unable to perform their respective duties appropriately. The token has a fixed supply which is vested across multiple years. The tokenomics details can be found here. Does your token have any advanced mechanics such as deflationary/rebase/reflexive? No, our token doesn’t have such mechanics. Please share your project’s roadmap Here’s what the stkBNB roadmap will look like: 1. Launch of v1 with a high priority on security Security audits conducted by Halborn, Peckshield, Binance Security team and Certora, Strong monitoring of on-chain activities with Forta, Bug bounty post-launch with Immunefi, 2. Integrations Decentralised Exchanges (at least 2 to create an arbitrage loop) (Leveraged) yield farming protocols., Borrowing/Lending platforms, Wallet service providers (to ensure users can liquid stake with their preferred wallets), To be confirmed — Listing of stkBNB on Binance exchange, Custody Providers, To be confirmed — Options & Derivatives, 3. Launch of V2 Features to improve the user experience, Increase decentralisation of the product, Implement automated delegation and rebalancing strategies to give users the best yields with the highest security, What % of the token supply is/will be controlled by the team? stkBNB — The team does not have any supply of the stkBNB token $PSTAKE — pSTAKE team has 16% of the total supply and which is vested across 36 months What % of the token supply is controlled by investors? What is the token distribution model? stkBNB — None $PSTAKE — Public sale (5%), Strategic seed sale (20%) Please share the profiles of key team members Tushar Aggarwal (CEO) — twitter.com Mikhil Pandey (pSTAKE lead) — twitter.com What monitoring or controls do you have in place that could catch issues, functions, or delay attacks to protect assets? pSTAKE has worked with Forta to deploy on-chain bots that will continuously track any suspicious activity on the product and send instantaneous updates. Do you have a bug bounty program in place/planned? pSTAKE will launch a bug bounty program with Immunefi to ensure that the protocol is stress tested from the start by a set of white hat hackers. Safety practices. Is there someone dedicated to security on the team? Does your git include your test/QA scripts? Describe your current IS/QA processes? Will you commit to auditing your code at least quarterly/semi-annually/annually and for major updates and releases? Security is the most important priority for the pSTAKE team. All of our products go through multiple audits before going live. We have team members dedicated to the security of the protocol, and are working on security focussed integrations like Forta and Certora to ensure we are on top of any challenges. The git includes the test/QA scripts for the formal verification done by Certora. pSTAKE team will continuously be adding rules to the repo to ensure that all the contracts are covered Audits are a standard practice for every major update or release by pSTAKE which has helped us in providing a secure platform to our users. We are committed to only launching audited products. To learn more about pSTAKE Finance, you can visit their official communication channels: Website · Telegram · Twitter · Blog · Youtube · Reddit Grazing Range Pool#55 — Welcome PSTAKE to the herd! was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
More Alpaca Finance (#ALPACA) News
|Gym Network Launches New DeFi Platform With Integrated Affiliate System
GYM NETWORK is a highly innovative DeFi platform that introduces affiliate marketing to decentralized finance, allowing users to earn commissions by referring others while profiting from the platform themselves.
$13M Total Value Locked in 5 Days
GYM NETWORK’s initial product, the GYMNET Vault, reached a total value locked (TVL) of
$13 million within the first 5 days after the launch.
“GYM Network is not about reinventing the wheel but creating something new and innovative based on existing, proven systems,” says Alberto Mera, the system designer of GYM Network. “The biggest innovation comes from adding rewards to the user for participating in the protocol and implementing an affiliate system so that you can receive affiliate commissions for referring other users.”
GYM NETWORK’s Initial Product: The Vault
GYM NETWORK has ambitious goals laid out in a long-term roadmap, that reaches ahead into 2024, with the vision to become a metaverse that’s combining an ecosystem of diverse DeFi earning opportunities, allowing its users to access them via a single virtual world. The first available product within this metaverse ecosystem is the GYMNET Vault which allows users to deposit their favourite crypto currency (it starts with BNB) and earn an interest rate on them. As they do this through the GYM NETWORK platform, they will also earn rewards in the form of the GYMNET Token.
What the GYMNET Vault does is, it connects to other established DeFi ...
|More Than 80% of the Funds Locked in Decentralized Finance Are Kept on 5...
In mid-March, the top five blockchains - in terms of total value locked (TVL) in decentralized finance (defi) - currently command more than 82% of the $198 billion TVL in defi across all blockchains. Each of these chains offers different types of defi protocols like decentralized exchange (dex) platforms and lending applications, allowing people to designate their finances in various ways.5 Blockchain Networks, 21 Defi Protocols
Today, there's just under $200 billion in defi and that's just the total value locked (TVL), as it doesn't include the large quantity of tokens tied to these specific protocols. Right now, five different blockchain TVLs represent 82% of the $198 billion locked in defi protocols. The chains include Ethereum, Terra, Binance Smart Chain, Avalanche, and Solana.
Ethereum currently holds the largest TVL with $108.51 billion or 54.59% of the value locked in defi protocols. On March 14, the top decentralized exchange (dex) platform tied to Ethereum is Curve Finance, with its $17.72 billion in TVL. Ethereum's top collateralized debt position (CDP) application is Makerdao, which is just under Curve as the second-largest TVL in defi today.
In terms of liquid staking, Lido is the top defi protocol and Convex Finance is Ethereum's top protocol for yield. Lastly, Ethereum's largest lending protocol is the defi application Aave, with its $11.35 billion TVL.
The second-largest chain in terms of TVL in defi is Terra, with $25.79 billion or 12.98% of the...