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Home Platforms Alpaca Finance
Alpaca Finance reviews

Average rating of 91% based on 11 reviews.

Founded 3 years ago in 2021.

Decentralised exchange.

Open source code can be publicly reviewed.

Reviewed by Yunis
18 October 2022 (Updated 21 July 2024)

Alpaca Finance Crypto Platform

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.

Pros

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

Alpaca Finance Staking Yields

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Alpaca Finance Reviews

Based on a total of 11 reviews across the web for Alpaca Finance we gave the platform an overall rating of 91%.

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Alpaca Finance Key Data

Company
Year founded 2021
Decentralised tick Yes
Open source tick Yes
Key People
Yoshi Yokokawa
CEO & Co-Founder
Hitoshi Harada
CPO and co-founder
Yuki Hayashi
Co-Founder & Advisor

ALooking at reviews from across the web, Alpaca Finance has an average review score of 91% based on 11 reviews.

Useful Links

Alpaca Finance Contact Details

https://www.alpacafinance.org/

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