Alpaca continues to bring huge updates to its platform, exemplifying exactly what protocols should be doing in the current stagnating crypto market!
Update After Update
Alpaca Finance has had an incredible month of updates and features brought to their protocol during the last month of June. From adding NFTs to offering some of the highest yields found on the Binance Smart Chain (BSC) network, Alpaca Finance have stayed very busy. Alpaca released their June recap via a twitter post on July 10th.
As the crypto markets stagnate, Alpaca Finance has remained proactive. June was a huge month for the protocol, and below we’re going to go over all the value add the protocol brought during the last month.
Valuation + New Vaults = Growth
Alpaca Finance throughout the month of June secured a massive $1.2 billion dollars of total value locked (TVL). The protocol is now considered one of the largest decentralized finance projects across all blockchain projects. 25 highest TVL projects in all of DeFi. From June 18th-25th, Alpaca Finance was ranked #9 in transaction volume and #1 in TVL growth. Alpaca Finance also hints that when analyzing the metrics and comparing them to other DeFi, the protocol may still be undervalued. The $ALPACA token is trading at $.57 according to CoinMarketCap.
New vaults were another major update to the protocol. The Alpaca platform launched a BTCB lending pool, allowing investors to loan and earn competitive yields. Wault Swap was also integrated into the Alpaca Finance protocol with farming pairs in addition to 19 new farms being added.
APY Comparisons, Single Asset Staking + More Updates
The current APYs hosted on Alpaca Finance have also been highly competitive against the other top yield farming protocols Autofarm and Beefy Finance. Shown below, one can see that Alpaca Finance boasts an average percent gain of 24.9% when compared to Beefy Finance and Autofarm.
The Alpaca protocol has also launched single asset staking leverage yield farming. At the moment, Alpaca Finance is offering 340% APY on CAKE leveraged at 2.5x. The protocol looks to add more single asset staking opportunities, as single asset staking removes the risk of impermanent loss entirely.
Alpaca Finance in the month of June also accomplished:
New Listing: $ALPACA is now listed on KuCoin
NFTs: New Grazing Farms for NFTs, where users can stake ibALPACA to earn special NFTs shown below
Token Burn: The monthly burn of Alpaca totaled 198,888 tokens, equivalent to $74,000 USD
Legal: Alpaca Finance is now incorporated
Learning: Alpaca has improved upon their learning guides for new users to their platform
API Integration: Alpaca has created a guide to help third parties integrate with the Alpaca platform
UI: Alpaca Finance has added a ton of user interface benefits, including up to date info displayed on price action as well as a new search bar to find farms with filters to sort by TVL or APY.
Alpaca Finance has continued to bring massive improvements to their protocol. The Alpaca team has been working incredibly hard to bolster and separate themselves from the other projects on the BSC. As time goes on and if Alpaca Finance can keep the momentum, they will surely be a force to be reckoned with.
What is Alpaca Finance?
Alpaca Finance is the largest lending protocol allowing leveraged yield farming on Binance Smart Chain. It helps lenders to earn safe and stable yields, and offers borrowers undercollateralized loans for leveraged yield farming positions, vastly multiplying their farming principles and resulting profits.
Alpacas are a virtuous breed. That’s why, Alpaca Finance prides itself on being a fair-launch project with no pre-sale, no investor, and no pre-mine. So from the beginning, the project has always been a product built by the people, for the people. Or as they like to say: by the Alpacas, for the Alpacas.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.