Helped by the weekly buyback and burn program, the ALPACA token supply has been deflationary for 32 of the last 37 weeks.
86th Weekly Burn Completed
Alpaca Finance has now removed more than 15% of ALPACA tokens from circulation, following its 86th weekly buyback and burn.
According to an Alpaca Finance tweet, nearly 181,000 $ALPACA (valued at $43,700) was burned this week. In total, 28.3 million $ALPACA have been removed from circulation since March 2021.
With the tokens valued at the time they were burned, that’s a cumulative $14.8 million.
At the height of the crypto bull market, 1.2 million $ALPACA worth $830,000 was burned in a single week in late November 2021 by the BNB Chain lending protocol.
Aided by the continuing buyback and burn program, the ALPACA token supply has been deflationary for 32 of the last 37 weeks.
What is Alpaca Finance:
Alpaca Finance is one of the largest lending protocols that allows leveraged yield farming on BNB 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.
Alpaca Finance prides itself on being a fair-launch project with no pre-sale, no investor, and no pre-mine. From the beginning, the project has always been a product built by the people, for the people––or as the Alpaca team likes to say: by the Alpacas, for the Alpacas.
Where to find Alpaca Finance:
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.