In what promises to be an exciting partnership, top BSC DEX platform, Pancakeswap has teamed up with the Alpaca City NFT project. A new Syrup pool yielding ALPA tokens is now available to holders of CAKE token.
Introduction
Pancakeswap, the most prominent dApp on Binance Smart Chain, is a prime platform for the incubation of upcoming projects. It has the largest number of users and has the biggest trading volume of all BSC dApps. Presently, Pancakeswap has a colossal total value locked (TVL) of more than $8 billion. Exposure to such a platform opens up a new project’s visibility to a broader range of potential users. This is what Alpaca City is set to leverage.
Spotlight On Alpaca City
Alpaca City is a futuristic blend of decentralised finance and non-fungible tokens (NFTs). Built for both Ethereum and Binance Smart Chain networks, the city is a virtual world inhabited by alpacas – a rare species of animals native to South America in the real world.
Currently, NFTs and yield farming are the most vibrant DeFi sectors. The vision of Alpaca City is to build an accessible DeFi ecosystem that harnesses the benefits of both yield farming and NFTs. The uniqueness of Alpaca City is that though alpacas are NFTs, they have DeFi capabilities. Owners of alpacas can deploy them to yield-farm the city’s native token, the ALPA.
Owners of alpacas can also breed between two alpacas to produce a new generation. The new generation often comes with improvements in traits over the parents. Each alpaca has unique genetic characteristics. These traits converge to define an alpaca’s energy, which is a measure of its ability to be useful in the city.
Why Syrup Pools?
Syrup Pools are Pancakeswap’s unique yield farming platform that helps projects to increase adoption. Holders of Pancakeswap’s CAKE tokens, can stake them in the Syrup pool to earn another project’s tokens as a reward. When you stake CAKE in the pool, you will receive a non-tradable token, SYRUP, which serves as your proof-of-stake. Based on the amount of CAKE staked, you will receive a proportionate amount of the partnering project’s new tokens.
Overview Of The ALPA Token
The governance token of Alpaca City is known as the ALPA. Holders of the token can use it to vote on community proposals and breed more alpaca NFTs etc
ALPA token has Ethereum and Binance Smart Chain variants. The alpaca ecosystem has a bridge that enables users to move their alpa tokens between the two blockchain platforms.
How To Stake Cake In The Syrup Pool And Earn Alpa
Holders of Cake token can easily stake their tokens and be rewarded with ALPA tokens. The simple procedure is outlined in the following steps,
1. Go to Pancakeswap’s website for Syrup pools: pancakeswap.finance/syrup
2. Scroll down to the “Alpa Pool”.
3. Click on “Approve CAKE.”
4. Click on the “Stake” button to choose how many CAKEs to
5. Confirm the transaction.
That’s all there is to it: very easy and straightforward.
A total of 406,000 ALPA has been allocated as the syrup pool’s reward. It will be distributed over a 60-day period beginning from 5.00AM UTC on April 15th (block 6578268) and ending at 5.00AM UTC on June 14th (block 8306260).
Source : bsc.news
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