Alpaca Finance Crypto Platform

Pros

$364,720,746 USD currently invested (TVL)

Alpaca Finance Reviews

Alpaca Finance is a lending protocol on the BNB chain that allows leveraged yield farming. The protocol is a community-owned project with no institutional investor. Alpaca Finance is founded by Yoshi Yokokawa, Yuki Hayashi, and Hitoshi Harada from Alpaca company that develops API for trading, and investing apps. James Strudwick, Pete Woodard, SpicySquid168, Huacaya Chief, Samsara, and Rupert Douglas are in the team that works to develop the protocol. 

Users can lend cryptocurrencies to earn yields or borrow loans against collateralized crypto assets. What makes Alpaca different is a leveraged farming option on the protocol. Users can receive an undercollateralized loan and use loans in farming to multiply the yield. The protocol currently supports the BNB and Fantom Networks. Alpaca Finance is an open-source lending protocol which has been audited by 20 different companies as stated on the official webpage (here)
 
The protocol has a web app where users can connect their web wallets and start using the platform. Alpaca Finance has a very easy-to-use interface and anyone with basic knowledge can navigate the platform. Alpaca Finance doesn’t have a mobile app. Users have options for lending, yield farming, and staking on the platform. The protocol also offers to bridge between BNB and Fantom chains. BNB chain provides faster and cheaper transactions for the protocol.
 
ALPACA is the native token of the platform. Alpaca tokens are BEP20 tokens created on the BNB chain. The platform states that they used a method to ensure a fair launch for the platform’s native tokens to create a more democratic token distribution. You can see holders on the BSCScan. The platform has a buyback-and-burn policy to support its native tokens. Liquidations on the protocol go to a different wallet address and then the automated bot uses those funds to buy ALPACA tokens and burn them. The automated buyback and burn feature makes ALPACA tokens deflationary. ALPACA token holders are rewarded with the protocol’s revenue and given the right to participate in the protocol’s governance.
 
The good thing about the Alpaca protocol is that it has no hack or exploit in its history. The protocol is relatively new compared to other DEXes and has a short history. But the protocol raises some questions because of its undercollateralized loans that might lead to insolvency in the future.

How Much Can You Earn on Alpaca Finance?

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Alpaca Finance Key Data

Company

Year founded	2,021
Decentralised	Yes
Open source	Yes

Key People

Yoshi Yokokawa

CEO & Co-Founder

Hitoshi Harada

CPO and co-founder

Yuki Hayashi

Co-Founder & Advisor

Useful Links

Alpaca Finance Contact Details