Alpaca Finance is a decentralized Leveraged Yield Farming, Lending and Staking Platform on the Binance Smart Chain.
Written By Garrett Mckeown, Founder of Market Watch and Freelance Crypto Journalist
SmgProductions.hub@gmail.com
Disclaimers
Do I use the Alpaca Finance Protocol?
Yes, I use the lending and staking functions of Alpaca and have implemented them into my Passive Investment Tunnel (P.I.T..)
Do I own Alpaca?
Yes, I lend BUSD on Alpaca in return for interest bearing BUSD (ibBUSD). Then I stake the ibBUSD in return for Alpaca rewards which are then staked for more rewards.
Am I paid by Alpaca for this review?
No, I learned of Alpaca then checked it out and found the project useful to my investment strategy.
Review
Alpaca finance brings innovative features with its lending program. Users are able to exchange their crypto for an interest bearing (ib) equivalent. The “ib” tokens will passively increase your holdings of the underlying asset. You can also stake your interest bearing tokens on the platform for an additional APR rewarded in Alpaca.
Token
The native Alpaca token is stated to capture the economic benefits of the platform with a community driven governance system to determine the distribution of benefits. But Alpaca also has issued interest bearing token versions of underlying assets, including Alpaca.
Type: ERC-20
Chain: Binance Smart Chain
Supply Cap: 188 Million Alpaca
Transfer Fees: None
Launch
Fair Launch with 8.7% of the tokens going to team over 2 years and 4.3% of the tokens going to the “Warchest” which is basically a savings account for future project expenses.
Front End
The front end (website) is a clean, brings an original design, and, besides being an animal token, it looks professional.
Back End
Alpaca has its code openly viewable to the public here.
From my experience the code and platform does what it is described to do, I have found no issues with using the platform.
Code Security
The project has been awarded the highest security rating on BSC by Defi Safety and was ranked third in safety by Certik. The platform also has a bug bounty offering rewards for anyone who can find issues in the code.
Social Media
Youtube
Telegram
Docs and Medium (Social Resources)
Alpaca does an outstanding job with its documentation and medium articles. The documentation is in depth and easy to follow, includes videos and is a step above other projects. The medium page is artistically designed and contains a plethora of content.
Return on Investment
With Alpaca you can lend an asset, stake the lended asset, then restake your rewards if you choose.
Overall Rating
Alpaca does exactly what is describes itself as and it does it safely with no track record of exploits, hacks, breaches, or rugs. It brings innovative features in lending and staking which offer new ways of making passive income from your investments. Multiple investments strategies on the platform mean you can find a way that works for you risk assessment. Personally I found use for the Alpaca protocol in my Passive Investment Tunnel system.
4.5/5 Stars
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BTC: bc1qds40x08h6z44eqwpqufmgs2kzksk3n75aq3x4y
ETH: 0xB02522AF5046eeA6F82435B29fF47779f44Fa93a
BNB: 0x0e8d8668b2389fD586E298CBaCCcF1B9e3Ef4f10
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